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Russian Millionaires Escape to Dubai

Tall buildings on the edge of the marina with boats

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The arrival of Russians boosted demand for luxury apartments and condos in the city.

Dubai has been gaining ground as a sanctuary for wealthy Russians fleeing the brunt of sanctions over the war in Ukraine.

Russian billionaires and businessmen have been arriving in the UAE in record numbers, executives told the BBC.

Real estate purchases in Dubai by Russians grew by 67% in the first quarter of 2022, according to a report.

The UAE did not impose sanctions on Russia or criticize the invasion of Ukraine.

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