Notes from Marinagrad as the Gulf warms to Russia

Regular readers will know of my longstanding interest in the affairs of “Marinagrad” – my shorthand for the growing role of the Russian community in Dubai. 

Over the past two weeks, it seems to me, this has taken a huge leap forward and recent developments in the region leave much to ponder.

First came the inaugural Saudi-Russian Business Forum, held in the chic affluence of the St Regis hotel in Via Riyadh, just over the road from the famous Ritz Carlton complex in the Saudi capital.

Some 450 companies from the two countries met and mingled in what was billed as a “vital platform for expanding direct business engagement”.

Then, barely had the ink dried on the MoUs there when the UAE rolled out its own carpet, with the UAE-Russia Business Forum hosting more than 600 participants at Dubai’s Museum of the Future – a dramatic official venue to bless a deepening relationship.

A few things struck me. First, the scale. These were not modest roundtables or mid-level delegations. Saudi Arabia and the UAE both hosted full ministerial turnouts on each side, accompanied by the requisite mix of sovereign fund representatives, conglomerate chiefs, bankers, tech bros and opportunists.

Second, the tone. There were solemn speeches that further formalised the bilateral friendship between Russia and the two leading economies of the Arabian Gulf, which have already been institutionalised into governmental committees and official councils.

In Riyadh, all the talk was of co-operation across the spectrum of economic, cultural and social activities, with an obvious emphasis on energy, where Saudi Arabia and Russia already work closely in the Opec+ alliance.

There was even a media link-up between the Saudi Press Agency and the Sputnik News Agency, a growing conduit for Russia’s view on global matters.

In Dubai, there was much talk of collaboration in the food sector, aviation, fintech and, inevitably, AI and robotics. One Russian technocrat talked about the prospect of building a “city of robots” in Ras Al Khaimah.  

The headline moment came in Riyadh with the announcement that Saudi Arabia will grant visa-free entry to Russian passport holders for tourism, business and leisure.

Russians now face exactly the same minimal entry requirements for the kingdom as citizens of the GCC – a valid passport – and a markedly smoother path than Europeans or Americans, who must at least navigate the electronic visa system.

This is not nothing. It is a diplomatic gesture of the first order that prompts some fascinating questions.

Was this, perhaps, a small bit of compensation offered to President Putin in the aftermath of Crown Prince Mohammed bin Salman’s extravagant White House reception? A visa waiver is not a state banquet, but in the coded language of international politics it is a notable signal.

Maybe I’m reading too much into it. A Saudi thought-leader explained to me that the kingdom would like to lower travel restrictions with as many countries as possible, but the Americans and Europeans have not been as willing as the Russians to reciprocate. 

Dubai’s Russian forum was less dramatic but no less intriguing. Officials openly discussed ways to allow Russian citizens to resume the use of electronic payment systems – frozen since the Ukraine invasion in February 2022 – inside the UAE.

The discussions are still exploratory, but if implemented they would significantly ease life for the Russian community and accelerate business links disrupted by sanctions. For a country like the UAE, whose retail sector thrives on frictionless spending, and with the Russian inclination to splash the cash on holiday, the incentive is obvious.

Is this all part of a coordinated Gulf re-engagement strategy with Moscow after the careful tightrope walk since 2022? My instinct is no. Saudi Arabia and the UAE do not synchronise their foreign policy choreography quite like that.

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The Russians, for their part, appear to be preparing for life after the Ukraine war, whenever that comes. There is a distinct air of positioning, of commercial diplomacy ahead of an anticipated sanctions thaw.

For the West, there is an uncomfortable undertone. While Europeans and Americans implement travel bans, visa freezes and financial sanctions (reluctantly in the case of Trump’s USA), the Gulf is visibly warming back up to Russian engagement.

All of which brings me back to Marinagrad – Dubai’s little corner of post-Soviet demography, where Russian is already the second language.

So perhaps my 2026 resolution should not be to get fitter or more productive but something more practical: finally learn Russian. Not for geopolitics, not even for social survival, but simply to understand what my neighbours are discussing in the lifts.

Frank Kane is Editor-at-Large of AGBI and an award-winning business journalist. He acts as a consultant to the Ministry of Energy of Saudi Arabia