Menu

Post image 1
Post image 2
Post image 3
Post image 4
Post image 5
1 / 5
0

UAE’s ruling royal family benefits from more than €71m in EU farming subsidies

the Guardian·Clare Carlile·26 days ago
#nluXgtEN
Reading 0:00
15s threshold

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. The Al Nahyan family is the second richest in the world, with an estimated wealth of more than $320bn (£235bn), mostly derived from the Emirates’ vast oil reserves. Subsidies under the common agricultural policy (Cap) make up a third of the EU’s entire budget, paying out about €54bn each year to farmers and rural areas across the bloc. But an unknown proportion of this ends up in the hands of foreign investors – including those controlled by autocratic states.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More