In the first quarter of the year, Russian oligarchs and businessmen were the target of heavy sanctions by the European Union (EU), the United States and the United Kingdom, and decided to bet on Dubai as an escape country.

Property purchases in Dubai by Russian oligarchs increased by 67% in the first quarter of 2022 when compared to the first three months of last year, a new study cited by the "BBC" has shown.

By not applying sanctions on Russia, criticizing the invasion of Ukraine, or barring entry to Russians not on the blockade list, the UAE has become a haven for those who decide to flee.

"We are getting five times more demand from Russians since the war started," pointed out George Hojeige, CEO of Virtuzone, a company that helps establish operations in Dubai. An economist consulted by the publication estimates that more than 200,000 citizens left Russia in the ten days following the start of the war, although there are no official figures.

George Hojeige explains that the Russians' flight to Dubai serves as a way to protect their fortunes, as they fear "an economic collapse" in the coming months due to the war.

But if the demand for properties has increased, prices have also followed the trend. Luxury villas and apartments have been the first properties to be crossed off the shopping list, as Russians plan to move to Dubai almost permanently.

However, the "BBC" concludes that it is not only oligarchs to pick up their bags and take refuge in the country that has not spoken out. Many companies saw attractiveness in Dubai when it came to fleeing Ukraine and Russia. WeWay was one such example, as it had offices and workers in both countries when war broke out.

The founder of WeWay, Fuad Fatullev, pointed out that the choice to move to the United Arab Emirates was due to the healthy economic and political environment, something that allows to continue with the business. Recall that many international companies closed their doors in Russia after the invasion.