• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Russian Commodities Traders Rush to Dubai After Fleeing Switzerland

June 23, 2022
in Finance
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


  • Russian commodities traders are fleeing Switzerland for Dubai, Bloomberg reported.
  • Switzerland has ramped up sanctions on trading certain commodities, so Russian energy giants and others are moving.
  • Execs from Russia’s largest state-run oil firms have explored relocating or are in talks to relocate to Dubai.
Loading Something is loading.

Thanks to war-time sanctions in Switzerland, Russian commodities traders who normally work within Swiss territory are rushing to set up business operations in Dubai.

According to Bloomberg, Switzerland’s ramp-up of restrictions is making it increasingly difficult for commodities traders to use the country as a base to deal with Moscow. It has spurred an exodus to Dubai as traders leave the nation that has long been home to middlemen matching Russian producers and their buyers.

Per the report, Russia’s three largest oil producers are in talks for trading operations in Dubai, and several other companies have already made the move.

Dubai makes an attractive landing spot for commodities traders because it hosts an abundance of free-trade zones, has low taxes, and is close to Middle Eastern energy producers.

“Middle Eastern and Eastern jurisdictions will gain in importance relative to the rather euro-centric situation of the commodities business up to now,” Wouter Jacobs, the director of the Erasmus Commodity & Trade Center in Rotterdam, told Bloomberg.

The Swiss have claimed neutrality amid war in Ukraine. But in line with the European Union, they have imposed more and more strict parameters around certain commodities.

Sources told Bloomberg that execs from Russia’s state oil producer Rosneft explored the idea of business in Dubai last month, while officials from Gazprom have done the same.

Additionally, the sales and trading arm of Lukoil, another Russian energy giant, is eyeing a relocation to Dubai from Geneva. Solaris Commodities, a Russian grain trader, has already relocated to Dubai as of last week, per the report.

Meanwhile, the EU plans to have bans in place by the end of 2022 to stop insuring and financing Russian oil cargoes. Switzerland has said it will take the same measures.

Previous Post

New Tesla factories “losing billions” Musk says

Next Post

Title IX opened doors for girls, but there’s still work to be done

Related Posts

Call for rental reform to address crisis
Finance

Call for rental reform to address crisis

Live Australia’s housing system is...

Read more
UK housebuilding activity falls for first time in two years
Finance

UK housebuilding activity falls for first time in two years

Residential housebuilding activity across Britain...

Read more
Prosecutor Calls for Assault Weapons Ban After Highland Park Shooting
Finance

Prosecutor Calls for Assault Weapons Ban After Highland Park Shooting

Loading Something is loading. Lake...

Read more
Hyundai Motor’s union in S. Korea votes to authorize strike
Finance

Hyundai Motor’s union in S. Korea votes to authorize strike

SEOUL — Hyundai Motor Co's...

Read more
Long Position vs. Short Position: Key Differences
Finance

Long Position vs. Short Position: Key Differences

Long Position vs. Short Position:...

Read more
Load More
Next Post

Title IX opened doors for girls, but there's still work to be done

  • Trending
  • Comments
  • Latest
‘RHOBH’ Star Stormed Out of Kyle Richards’ House After ‘Big Fight’

‘RHOBH’ Star Stormed Out of Kyle Richards’ House After ‘Big Fight’

Ex-porn star Lana Rhoades flaunts 2.5st weight loss two weeks after giving birth

Ex-porn star Lana Rhoades flaunts 2.5st weight loss two weeks after giving birth

Model Christy Giles found dead on footpath after night out in LA

Model Christy Giles found dead on footpath after night out in LA

Horror as goat gives birth to ‘humanoid kid’ with baby-like face

Playboi Carti Kisses Fan After Saving Him From Festival Security

Playboi Carti Kisses Fan After Saving Him From Festival Security

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

Kentucky recruits thriving for USA Basketball team in Spain

Kentucky recruits thriving for USA Basketball team in Spain

NRL ScoreCentre: Cronulla Sharks vs Melbourne Storm, live scores, stats and results

NRL ScoreCentre: Cronulla Sharks vs Melbourne Storm, live scores, stats and results

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Playboi Carti Kisses Fan After Saving Him From Festival Security

Playboi Carti Kisses Fan After Saving Him From Festival Security

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

Playboi Carti Kisses Fan After Saving Him From Festival Security

Playboi Carti Kisses Fan After Saving Him From Festival Security

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

These 10 Dividend Aristocrat stocks have made investors a lot of money — which might soar from here?

Kentucky recruits thriving for USA Basketball team in Spain

Kentucky recruits thriving for USA Basketball team in Spain

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Posting....