INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Arab League plays safe, calls for diplomatic solution in Ukraine

Permanent Representative of the Russian Federation to the United Nations, Vassily Nebenzia arrives to speak on the Russia-Ukraine conflict at the General Assembly emergency special session in New York, on February 28, 2022. (Photo by Kena Betancur / AFP)
  • Most Arab countries so far have not come down on one side or the other in the war
  • Middle East and North African governments are cautious in their response to Russia, a major supplier of the region's wheat and weapons.

The Arab League on Monday expressed its worry over Russia’s invasion of Ukraine and called for a “diplomatic solution,” as the regional bloc’s members grapple with conflicting loyalties.

Most Arab countries so far have not come down on one side or the other in the war. Middle East and North African governments are cautious in their response to Russia, a major supplier of the region’s wheat and weapons.

At the same time they don’t want to alienate the United States, which supports Ukraine and is a historic ally of major powers in the Middle East.

After an extraordinary meeting held on the fifth day of Russia’s invasion, the 22-member Cairo-based League issued a statement reflecting its wish not to offend anyone.

It recalled “the importance of respecting the principles of international law”, while pleading for “restraint” and a “diplomatic solution”.

The bloc said its members pledged to cooperate to ensure the safety of its citizens, mainly students, thousands of whom are stranded in Ukraine.

Russia is the world’s top wheat exporter and Ukraine the fourth, leaving the Middle East and North Africa vulnerable to potential shortages of the staple food in a region where millions already struggle to get by.

The Gulf, long aligned with Washington, has stayed largely silent. On Friday the United Arab Emirates joined India and China in abstaining in voting on a United Nations Security Council resolution, which Russia vetoed, demanding the immediate withdrawal of Moscow’s troops from Ukraine.

Syria, which the Arab League suspended in 2011 and whose regime Russia has aided in its years-long civil war, leans clearly towards Moscow.

Algeria and Sudan tilt the same way, a reflection of their military links with Russia and the Soviet Union before it.