A new Bloomberg article quotes our very own Dr. Wouter Jacobs. The article discusses Russian commodity traders leaving Geneva for Dubai due to sanctions. Read more about the article and Wouter's quote here!
Wouter's quote
As was mentioned above, the article reports on Russian commodity traders leaving Switzerland for Dubai as their centre for operations due to European bans on export from Russia. Already several businesses have relocated, and others will soon follow, including Russia's three largest oil producers.
Dr. Wouter Jacobs had to say the following on the matter: "The trade will go on. Middle Eastern and Eastern jurisdictions will gain in importance relative to the rather euro-centric situation of the commodities business up to now."
Interested to read the full article? Click here!