Trump Pulled In About $1.4 Billion From Crypto Ventures, Financial Disclosure Shows

© Eric Lee for The New York Times

© Eric Lee for The New York Times
US secretary of state seeks to reassure UAE, Kuwait and Bahrain over security and US-Iran ceasefire deal
The US secretary of state, Marco Rubio, has said no country, including Iran, would be allowed to charge tolls for shipping in the strait of Hormuz as he sought to reassure US allies in the Gulf that Washington would take a firm line in peace negotiations with Tehran.
Rubio is to meet Gulf allies on Tuesday and Wednesday in an attempt to reassure them that the US remains committed to their security and the 60-day ceasefire deal struck with Iran last week will not embolden Tehran.
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© Photograph: Julia Demaree Nikhinson/AP

© Photograph: Julia Demaree Nikhinson/AP

© Photograph: Julia Demaree Nikhinson/AP

© Arash Khamooshi/Polaris for The New York Times
As US lifts its blockade, Tehran says fees to cover cost of managing waterway will come into effect at end of 60-day negotiation period
Iran has announced plans to introduce a system of maritime fees in the strait of Hormuz in two months, after the 60-day period of negotiation that has been triggered by the signing of the memorandum of understanding.
Tehran, claiming a historic victory over the US, said the strait was under its control and a European plan for a naval mission to escort ships though the strait would not be welcome. The US on Thursday lifted its blockade of Iran, and oil tankers began freely moving through the critical channel.
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© Photograph: Reuters

© Photograph: Reuters

© Photograph: Reuters
Sellers of luxury villas have wiped tens of millions of pounds off asking prices, with sales down 19% in May from the previous month
Property sales in Dubai have fallen “off a cliff”, a leading market watcher has said, after war in the Middle East forced a dramatic slowdown in one of the world’s most expensive real estate markets.
Sales in the city dropped 19% in May compared with the previous month, accelerating from a 4% drop in April, the researcher ValuStrat found.
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© Photograph: Fadel Senna/AFP/Getty Images

© Photograph: Fadel Senna/AFP/Getty Images

© Photograph: Fadel Senna/AFP/Getty Images
Sky News Arabia to retain name in brand licensing deal after criticism of its coverage of atrocities in Sudan
Sky is exiting its TV news joint venture with the United Arab Emirates, Sky News Arabia, which has been criticised for its coverage of the war in Sudan, with accusations of genocide denial.
Sky and its partner IMI – the investment vehicle controlled by Sheikh Mansour bin Zayed al-Nahyan, the vice-president of the UAE and owner of Manchester City – have announced a new commercial deal in which the UK-based broadcaster will relinquish all strategic and operational ownership of the 24-hour Arabic language news and current affairs service.
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© Photograph: Sky News Arabia

© Photograph: Sky News Arabia

© Photograph: Sky News Arabia
Region adapting to diminished US power after Washington fails to land knockout blow on Tehran or safeguard allies
The shock of the Iran war and its fallout has driven rivals in the Middle East to get behind a peace deal, pushing the Trump administration to accept a tentative agreement in the face of furious opposition from Israel and its supporters in Washington.
The diplomatic efforts come as the region is reshaping to adapt to diminished US power after Washington’s inability to land a knockout blow on Iran, force the opening of the strait of Hormuz or safeguard its Gulf allies. Tehran has few friends in the region, but the regime’s survival has meant that its neighbours have had to find an accommodation.
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© Photograph: EPA

© Photograph: EPA

© Photograph: EPA
Abu Dhabi denounces ‘dangerous escalation’ as Iran war ceasefire grows more precarious, and US president voices impatience at stalemate
The United Arab Emirates has blamed a fire near its nuclear power plant on a drone launched by Iran or one of its proxies in what the UAE called a “dangerous escalation”.
The fire was just outside the Barakah nuclear plant and caused no injuries or radiation alerts, with the emirate’s nuclear regulator saying there was no radioactive leak or risk to the public.
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© Photograph: Arun Girija/Emirates News Agency/AP

© Photograph: Arun Girija/Emirates News Agency/AP

© Photograph: Arun Girija/Emirates News Agency/AP
Outrage is mounting about the Gulf country’s complicity in Sudan’s catastrophic civil war – and it might be starting to hit them where it hurts
There are certain states whose reputations in the global community are tainted. For habitual violations of international law, they are shunned, boycotted or slammed with economic sanctions. Reading these words, perhaps you’re thinking of Russia, Israel, Iran or North Korea. But there is one country that is rarely considered an outlaw, even if its actions increasingly fit the bill.
The United Arab Emirates (UAE) is belatedly starting to draw some scrutiny over mounting evidence that it is backing the Rapid Support Forces (RSF) that have been terrorising Sudan for years. Since the beginning of the civil war in 2023, which was triggered by a contest for power between the RSF militia and the Sudanese army, the RSF has been accused of ethnic cleansing and sexual violence. A United Nations fact-finding mission concluded that its assault on non-Arab populations in the west of the country carried “the hallmarks of genocide”.
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© Photograph: AP

© Photograph: AP

© Photograph: AP
Emirates’ foreign ministry rejects claims that Netanyahu visited the country describing them as ‘baseless’
Benjamin Netanyahu has claimed he made a secret trip to the United Arab Emirates at the height of the Iran war to meet the president, Sheikh Mohamed bin Zayed Al Nahyan.
“This visit has led to a historic breakthrough in relations between Israel and the UAE,” the Israeli prime minister’s office said on Wednesday night.
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© Photograph: Ronen Zvulun/Reuters

© Photograph: Ronen Zvulun/Reuters

© Photograph: Ronen Zvulun/Reuters
If current precarious ceasefire between US and Iran ends, Emirates are more likely to be targeted by Tehran
The risk of some Gulf states becoming embroiled in a direct war with Iran has risen after it was reported the United Arab Emirates had secretly launched a major attack on Iran during the conflict.
In addition, Kuwait has said that at least four members of the Islamic Revolutionary Guard Corps had been captured trying to carry out “terrorist attacks” on the Kuwaiti-owned Bubiyan Island, the largest island in the Kuwaiti coastal chain.
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© Photograph: Benoît Tessier/Reuters

© Photograph: Benoît Tessier/Reuters

© Photograph: Benoît Tessier/Reuters

© Noufal Ibrahim/EPA, via Shutterstock
Al Nahyans’ control over farmland in Europe has meant they receive proportion of payments to farms
The United Arab Emirates’ ruling royal family is benefiting from tens of millions in EU subsidies to grow crops destined for the Gulf, it can be revealed.
A cross-border investigation by DeSmog and shared with the Guardian found subsidiaries controlled by the Al Nahyans collected more than €71m (£61m) in six years for farmland it controls in Romania, Italy and Spain.
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© Photograph: Anadolu/Getty Images

© Photograph: Anadolu/Getty Images

© Photograph: Anadolu/Getty Images
Conflict appears to have reached impasse, but leaders in Tehran and Washington seem to think victory is near
The month-old ceasefire between Iran and the US appeared to be in new peril on Tuesday with a fresh barrage of Iranian missiles reported to have targeted the United Arab Emirates as US naval forces pressed ahead with efforts to reopen the strait of Hormuz.
The Iranian strike on the UAE was the second in 48 hours, and came shortly after the US defence secretary, Pete Hegseth, insisted the shaky truce which has paused the war in the Middle East was intact, despite the new increase in violence.
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© Photograph: Amirhossein Khorgooei/ISNA/AFP/Getty Images

© Photograph: Amirhossein Khorgooei/ISNA/AFP/Getty Images

© Photograph: Amirhossein Khorgooei/ISNA/AFP/Getty Images
Quintessentially almost quadrupled staff in Middle East and Asia less than year before wealthy began to flee Gulf
The embattled luxury concierge service co-founded by Queen Camilla’s nephew Ben Elliot embarked on what appeared to be an inopportune hiring spree in the Middle East and Asia before wealthy individuals began fleeing the region because of the US-Israel war on Iran.
Quintessentially almost quadrupled staff in the regions from 22 to 84 during its financial year to 30 April 2025, according to newly released annual accounts, which again reported multimillion-pound losses and warned of “material uncertainty” about its future.
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© Photograph: AFP/Getty Images

© Photograph: AFP/Getty Images

© Photograph: AFP/Getty Images
A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to come
The conflict in the Middle East has claimed Opec as the latest casualty of war. The United Arab Emirates’ shock exit from the oil cartel on Tuesday after 60 years is expected to weaken the alliance, which under the leadership of Saudi Arabia has helped to soothe volatility in the global oil market for decades.
Global oil prices reached the highest level in four years on Thursday, rising above $126 a barrel. But as the region grapples with the continuing conflict, a fresh war may be brewing in the international oil markets, which could lead to greater market volatility for years to come.
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© Photograph: Kamran Jebreili/AP

© Photograph: Kamran Jebreili/AP

© Photograph: Kamran Jebreili/AP
The world must accelerate the shift to renewables, regardless of the economic effects of Abu Dhabi’s decision
Opec appears to be the latest casualty of the Iran war. On Tuesday, the United Arab Emirates announced that it was leaving the oil cartel after 60 years. The loss of a critical member is a blow to the group and its de facto leader, Saudi Arabia, in the midst of the biggest supply crisis in history.
This is a geopolitical decision, not merely an economic one. The UAE has built itself into an increasingly interventionist and unilaterally minded power, not only challenging Riyadh’s dominance but undermining its more cautious approach to regional affairs. The rift has become increasingly public and bitter – with Saudi Arabia bombing what it called a UAE-linked arms shipment in Yemen in December. Abu Dhabi, as the main target of Iranian strikes among the Gulf countries, is also enraged by what it sees as a feeble regional response to the current conflict, and has been privately pushing for counterattacks.
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© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images
US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices
The United Arab Emirates has quit the Opec oil cartel after 60 years of membership, in a heavy blow to the group and its de facto leader, Saudi Arabia, as global energy markets contend with the biggest supply crisis in history.
The shock loss of the UAE, Opec’s third-largest oil producer, is expected to weaken the group, which for decades has worked together to use its collective oil production to influence global oil market prices.
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© Photograph: Giuseppe Cacace/AFP/Getty Images

© Photograph: Giuseppe Cacace/AFP/Getty Images

© Photograph: Giuseppe Cacace/AFP/Getty Images
The RSF leadership, accused of committing genocide, used UAE as a ‘safe haven’ for family members and their wealth, records show
A network linked to the leadership of a militia accused of genocide has amassed a vast property portfolio in Dubai as part of a sprawling “paramilitary-industrial complex” across Africa and the Middle East, an investigation has revealed.
Family members, sanctioned individuals, and entities linked to the leader of Sudan’s Rapid Support Forces (RSF), Mohamed Hamdan Dagalo, known as Hemedti, have acquired more than 20 luxury properties, worth £17.7m, in the United Arab Emirates (UAE), according to the Sentry, a US investigative group.
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© Photograph: Abdel Hadi Ramahi/Reuters

© Photograph: Abdel Hadi Ramahi/Reuters

© Photograph: Abdel Hadi Ramahi/Reuters

© Kenny Holston/The New York Times