Russians are actively buying up housing in the UAE. According to Emirates.Estate analysts, since the beginning of 2023, Russian demand for real estate has skyrocketed by 56%.
According to Reuters, wealthy russians are investing in real estate in Turkey and the United Arab Emirates after russia’s full-scale invasion of Ukraine and the imposition of Western sanctions against country.
According to the publication: In Istanbul, russians buy 7-8 apartments for cash every day, open bank accounts, bring gold. Many transactions are carried out in cryptocurrency
In February, before the offensive, russians bought twice as many homes in Turkey and the UAE as last year
russians are looking for an opportunity to protect capital and obtain a resident visa for temporary relocation
In general, the sanctions mechanism is powerful, but so far russians have found ways to circumvent some of them. russia manipulates, using the thesis of “good russian” to return to the world economy. That’s why an expert group has been set up at the President’s Office to analyze the impact of sanctions against russia
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Cards from Russia are starting to be accepted
Air Arabia, Emirates, and Fly Dubai have started accepting Visa and MasterCard cards from the Russian Federation using SBP.
