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		<title>UN Nuclear Watchdog Alarmed by Drone Strike Near UAE Atomic Plant</title>
		<link>https://www.millichronicle.com/2026/05/67261.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sun, 17 May 2026 14:17:36 +0000</pubDate>
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					<description><![CDATA[Dubai-The International Atomic Energy Agency said on Sunday it was “gravely concerned” after a drone strike triggered a fire near]]></description>
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<p><strong>Dubai-</strong>The International Atomic Energy Agency said on Sunday it was “gravely concerned” after a drone strike triggered a fire near the Barakah Nuclear Power Plant in the United Arab Emirates, though Emirati authorities said there was no impact on nuclear safety or plant operations.</p>



<p><br>Authorities in Abu Dhabi said emergency teams responded to a fire in an electrical generator located outside the inner perimeter of the Barakah facility in the Al Dhafra Region following the drone strike.</p>



<p><br>The IAEA said it was closely monitoring developments and remained in continuous contact with UAE authorities, adding that it stood ready to provide assistance if required.</p>



<p><br>The Federal Authority for Nuclear Regulation said radiological safety levels were unaffected and confirmed the plant’s critical systems continued operating normally.</p>



<p><br>“No injuries were reported, and there was no impact on radiological safety,” the Abu Dhabi Media Office said in a statement, adding that all operational units at the facility remained functional.</p>



<p><br>Authorities urged the public to rely on official information sources and avoid circulating unverified reports related to the incident.</p>



<p><br>The Barakah plant, located west of Abu Dhabi near the Saudi border, is the Arab world’s first operational nuclear power facility and plays a central role in the UAE’s strategy to diversify energy sources and reduce carbon emissions.</p>



<p><br>The incident comes amid heightened regional tensions and increased concerns over the vulnerability of critical energy and infrastructure facilities to drone and missile attacks across the Gulf region.</p>



<p><br>Neither UAE authorities nor the IAEA immediately identified those responsible for the drone strike.</p>
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		<title>BRICS Rift Erupts as Iran Accuses UAE of Role in Wartime Strikes</title>
		<link>https://www.millichronicle.com/2026/05/67123.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 07:38:51 +0000</pubDate>
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					<description><![CDATA[Dubai-Iran’s Foreign Minister Abbas Araqchi accused the United Arab Emirates of direct involvement in military operations against Iran during a]]></description>
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<p><strong>Dubai-</strong>Iran’s Foreign Minister Abbas Araqchi accused the United Arab Emirates of direct involvement in military operations against Iran during a contentious BRICS foreign ministers’ meeting in New Delhi, escalating tensions between the two Gulf states amid the widening regional conflict.</p>



<p><br>Iranian state media reported on Thursday that Araqchi made the remarks after an exchange with the Emirati delegation at the BRICS gathering, where divisions over the Iran war threatened efforts to issue a joint communique.</p>



<p><br>“I didn’t name the UAE in my statement for the sake of unity,” Araqchi was quoted as saying. “But the truth is that the UAE was directly involved in the aggression against my country.”</p>



<p><br>Iranian media did not specify the comments made by the Emirati representative that prompted the response.</p>



<p><br>The diplomatic dispute followed the UAE’s denial this week of claims by Israeli Prime Minister Benjamin Netanyahu that he had visited the Gulf state during the ongoing Iran conflict.</p>



<p><br>Araqchi had earlier warned that countries “colluding with Israel to sow division will be held to account,” remarks widely interpreted by regional analysts as directed toward Gulf states accused by Tehran of covert coordination with Israel and the United States.</p>



<p><br>The Iran war began on Feb. 28 with U.S. and Israeli strikes targeting Iranian facilities, prompting retaliatory missile and drone attacks by Tehran against U.S. bases and other targets across Gulf countries.</p>



<p><br>Iranian officials have increasingly accused regional governments of facilitating military operations against the Islamic republic, particularly states hosting U.S. military installations.</p>



<p><br>According to Iranian state media, Araqchi argued during the BRICS meeting that reliance on U.S. military bases and security cooperation with Israel would not guarantee the UAE’s stability.</p>



<p><br>“We must live side by side in peace, and this requires peaceful relations and complete understanding between the two countries,” he said.</p>



<p><br>The Wall Street Journal reported earlier this week that the UAE conducted military operations against Iran in early April. Reuters could not independently verify the report. Western and Iranian officials have also said Saudi Arabia carried out multiple unpublicized strikes against Iranian targets during the conflict.</p>



<p><br>The growing friction between Tehran and Abu Dhabi has complicated diplomatic dynamics within BRICS, the bloc comprising Brazil, Russia, India, China, South Africa and several recently admitted members, including Iran and the UAE.</p>



<p><br>Iranian media cited Deputy Foreign Minister Kazem Gharibabadi as saying there were “problems and communications” within the summit process because of the UAE’s participation.</p>



<p><br>The meeting in New Delhi was expected to focus on geopolitical coordination, trade cooperation and reform of global institutions, but the Iran war increasingly overshadowed proceedings as member states struggled to reconcile competing regional interests.</p>
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		<title>Iran Accuses UAE of Direct Involvement in US-Israeli Strikes at BRICS Meeting</title>
		<link>https://www.millichronicle.com/2026/05/67061.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Thu, 14 May 2026 15:43:38 +0000</pubDate>
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					<description><![CDATA[New Delhi — Abbas Araghchi accused the United Arab Emirates on Thursday of playing a direct role in the ongoing]]></description>
										<content:encoded><![CDATA[
<p><strong>New Delhi</strong> — Abbas Araghchi accused the United Arab Emirates on Thursday of playing a direct role in the ongoing US-Israeli military campaign against Iran, escalating tensions within the expanding BRICS bloc during a foreign ministers’ summit in New Delhi.</p>



<p>“The UAE is an active partner in this aggression, and there is no doubt about it,” Araghchi said while attending the BRICS gathering hosted by India.“It also became clear that they participated in these attacks and may have even acted directly against us,” he added, without publicly providing evidence to support the allegation.</p>



<p>The remarks underscored widening fractures within BRICS as the bloc attempts to project unity amid the war involving Iran and intensifying geopolitical instability across the Middle East.</p>



<p>Araghchi also referenced reports circulated by Israeli media concerning an alleged secret meeting between Israeli Prime Minister Benjamin Netanyahu and UAE President Mohammed bin Zayed Al Nahyan in the Emirates.Abu Dhabi has denied that any such meeting took place.</p>



<p>According to Iran’s Mehr news agency, Araghchi said he had initially avoided explicitly naming the UAE “for the sake of unity” during discussions among BRICS member states.“When the attacks started, they didn’t even issue a condemnation,” Araghchi said in response to remarks from the Emirati delegation.</p>



<p>The accusations come as BRICS foreign ministers meet to discuss the economic and geopolitical fallout from the Iran conflict, including disruptions to Gulf shipping lanes, energy markets and rising divisions among member countries.The UAE and Iran both joined BRICS during the bloc’s expansion phase in 2024, despite longstanding regional rivalries and competing strategic interests across the Gulf.</p>



<p>India, which currently chairs BRICS, is seeking to maintain consensus among members ahead of a leaders’ summit later this year, though disagreements over the Middle East conflict have complicated efforts to produce unified positions on global security issues.</p>
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		<title>Iran Accuses UAE of Direct Involvement in US-Israeli Strikes at BRICS Meeting</title>
		<link>https://www.millichronicle.com/2026/05/67042.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Thu, 14 May 2026 14:58:52 +0000</pubDate>
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					<description><![CDATA[New Delhi— Abbas Araghchi accused the United Arab Emirates on Thursday of playing a direct role in the ongoing US-Israeli]]></description>
										<content:encoded><![CDATA[
<p><strong>New Delhi</strong>— Abbas Araghchi accused the United Arab Emirates on Thursday of playing a direct role in the ongoing US-Israeli military campaign against Iran, escalating tensions within the expanding BRICS bloc during a foreign ministers’ summit in New Delhi.</p>



<p>“The UAE is an active partner in this aggression, and there is no doubt about it,” Araghchi said while attending the BRICS gathering hosted by India.“It also became clear that they participated in these attacks and may have even acted directly against us,” he added, without publicly providing evidence to support the allegation.</p>



<p>The remarks underscored widening fractures within BRICS as the bloc attempts to project unity amid the war involving Iran and intensifying geopolitical instability across the Middle East.</p>



<p>Araghchi also referenced reports circulated by Israeli media concerning an alleged secret meeting between Israeli Prime Minister Benjamin Netanyahu and UAE President Mohammed bin Zayed Al Nahyan in the Emirates.</p>



<p>Abu Dhabi has denied that any such meeting took place.According to Iran’s Mehr news agency, Araghchi said he had initially avoided explicitly naming the UAE “for the sake of unity” during discussions among BRICS member states.</p>



<p>“When the attacks started, they didn’t even issue a condemnation,” Araghchi said in response to remarks from the Emirati delegation.The accusations come as BRICS foreign ministers meet to discuss the economic and geopolitical fallout from the Iran conflict, including disruptions to Gulf shipping lanes, energy markets and rising divisions among member countries.</p>



<p>The UAE and Iran both joined BRICS during the bloc’s expansion phase in 2024, despite longstanding regional rivalries and competing strategic interests across the Gulf.</p>



<p>India, which currently chairs BRICS, is seeking to maintain consensus among members ahead of a leaders’ summit later this year, though disagreements over the Middle East conflict have complicated efforts to produce unified positions on global security issues.</p>
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		<title>Missile Barrage Tests Fragile Iran-U.S. Truce as UAE Activates Air Defenses</title>
		<link>https://www.millichronicle.com/2026/05/66648.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 08 May 2026 04:05:44 +0000</pubDate>
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					<description><![CDATA[Dubai— The United Arab Emirates Ministry of Defense said early Friday that the country’s air defenses were intercepting drones and]]></description>
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<p><strong>Dubai</strong>— The United Arab Emirates Ministry of Defense said early Friday that the country’s air defenses were intercepting drones and missiles targeting UAE territory, underscoring mounting pressure on a fragile ceasefire between Iran and the United States following weeks of regional conflict.</p>



<p>The ministry said in a statement that defense systems were “actively engaging” aerial threats and urged residents not to approach or photograph debris from intercepted projectiles.The attack came hours after the U.S. military said American naval forces in the Strait of Hormuz had intercepted Iranian attacks targeting three U.S. Navy vessels late Thursday and carried out retaliatory strikes against Iranian military facilities linked to operations against American forces.</p>



<p>United States Central Command said in a social media statement that U.S. forces responded to “unprovoked Iranian attacks” with what it described as self-defense strikes. The military said no American ships were hit and added that Washington did not seek further escalation but remained prepared to defend U.S. personnel and assets in the region.</p>



<p>Donald Trump told reporters in Washington that the ceasefire agreement between Tehran and Washington was still in effect despite renewed hostilities.</p>



<p>The latest violence threatens a truce that has largely held since April 8 after nearly six weeks of conflict triggered by U.S. and Israeli strikes on Iranian targets beginning Feb. 28.The UAE was among the Gulf states most affected during the conflict, facing repeated missile and drone attacks that authorities attributed to Iran. </p>



<p>Emirati officials said this week that strikes reported on Monday and Tuesday marked the first attacks on UAE territory since the ceasefire took effect.</p>



<p>According to UAE authorities, the country has been targeted by more than 2,000 drones, hundreds of ballistic missiles and dozens of cruise missiles since the war began. Officials said most were intercepted, but the attacks killed at least 13 people, injured more than 200 and damaged energy infrastructure and prominent buildings.</p>



<p>Other Gulf Arab countries also reported attacks during the conflict despite maintaining they were not directly participating in the U.S.-Israeli military campaign against Iran.On Thursday, the UAE announced the formation of a national committee to document what it described as Iranian attacks and the resulting human, economic and material losses, laying groundwork for potential legal action against Tehran.</p>



<p>State news agency WAM said the committee, chaired by the UAE attorney general, would gather evidence according to internationally recognized legal and technical standards to support future claims for accountability, reparations and justice.The move followed renewed diplomatic tensions after the UAE condemned statements by Iranian officials accusing Abu Dhabi’s security cooperation with Washington of threatening Iran’s national interests.</p>



<p>The United Arab Emirates Ministry of Foreign Affairs said the country’s defense partnerships were a sovereign matter.</p>



<p>Efforts to secure a broader settlement remain stalled after talks hosted by Pakistan last month between U.S. and Iranian representatives ended without a comprehensive agreement to halt the conflict permanently.</p>
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		<title>UAE to exit OPEC from May 1 in major shift to energy strategy</title>
		<link>https://www.millichronicle.com/2026/04/66025.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Tue, 28 Apr 2026 13:27:50 +0000</pubDate>
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					<description><![CDATA[Dubai — The United Arab Emirates said on Tuesday it will leave the Organization of the Petroleum Exporting Countries (OPEC)]]></description>
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<p> <strong>Dubai </strong>— The United Arab Emirates said on Tuesday it will leave the Organization of the Petroleum Exporting Countries (OPEC) effective May 1, marking a significant policy shift for one of the group’s major producers and signaling a broader recalibration of its long-term energy strategy.</p>



<p>The announcement was made through the state-run WAM news agency, which said the decision reflects the country’s changing economic priorities and expanding domestic energy ambitions.“This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,” the government said in a statement.</p>



<p>The UAE did not provide further details on how the move would affect its crude production policy or its broader cooperation with OPEC+, the wider alliance of oil-producing nations led by Saudi Arabia and Russia.</p>



<p>The decision comes at a time of heightened volatility in global energy markets, with oil prices rising sharply amid continued tensions surrounding the Iran war and concerns over supply routes through the Strait of Hormuz, a critical channel for global crude shipments.</p>



<p>The UAE has in recent years expanded its oil production capacity while also investing heavily in natural gas, renewables and low-carbon energy technologies as part of its broader diversification strategy.</p>



<p>Its departure from OPEC could reshape internal dynamics within the producer group, where production targets and output discipline have often been subjects of negotiation among member states.</p>



<p>OPEC, headquartered in Vienna, was founded in 1960 and remains one of the world’s most influential oil alliances, coordinating output policies among major exporters to stabilize prices and manage market supply.</p>



<p>The UAE has been one of the organization’s key Gulf members and among its largest producers, making its exit one of the most significant institutional changes for the cartel in recent years.</p>



<p>Markets and analysts are expected to closely watch whether Abu Dhabi maintains coordination with OPEC+ informally or pursues a more independent production strategy after its formal withdrawal takes effect.</p>
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		<title>Debris hits Dubai buildings after aerial interception, no injuries reported</title>
		<link>https://www.millichronicle.com/2026/04/64653.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 04 Apr 2026 08:18:07 +0000</pubDate>
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					<description><![CDATA[Dubai— Authorities in Dubai said no injuries were reported on Saturday after debris from an aerial interception struck the facade]]></description>
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<p><strong>Dubai</strong>— Authorities in Dubai said no injuries were reported on Saturday after debris from an aerial interception struck the facade of a building in the emirate’s Internet City, amid heightened regional tensions linked to the Iran conflict.</p>



<p>The Dubai Media Office said the incident involved fragments falling on an Oracle building following defensive action against an aerial threat. </p>



<p>“Authorities confirm that they responded to a minor incident caused by debris from an aerial interception.</p>



<p>No injuries were reported,” it said in a statement on X.Officials also reported a similar incident in Dubai Marina, where debris fell on a building facade without causing injuries or fire.</p>



<p>Oracle had previously been listed among 18 U.S. firms that Iran’s Islamic Revolutionary Guard Corps warned could be targeted in retaliation for attacks on the country.</p>



<p>Elsewhere in the United Arab Emirates, authorities said an Egyptian national was killed and four others sustained minor injuries after debris from an intercepted strike fell on gas facilities in Habshan, in the emirate of Abu Dhabi, on Friday. </p>



<p>A further 12 people were injured in a separate debris incident in Ajban, officials said.In Bahrain, the interior ministry reported that four citizens sustained minor injuries after shrapnel from intercepted drones struck residential areas in Sitra, damaging several homes. Emergency and civil defense teams were deployed to the site.</p>



<p>The incidents highlight the spillover risks of ongoing hostilities in the region, as air defense interceptions increasingly result in debris falling across civilian areas in Gulf states.</p>
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		<title>UAE FM Urges Ceasefire in Gaza During Talks with Israeli Counterpart</title>
		<link>https://www.millichronicle.com/2025/04/uae-fm-urges-ceasefire-in-gaza-during-talks-with-israeli-counterpart.html</link>
		
		<dc:creator><![CDATA[Millichronicle]]></dc:creator>
		<pubDate>Mon, 07 Apr 2025 04:47:13 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=54526</guid>

					<description><![CDATA[Riyadh – The United Arab Emirates Foreign Minister, Sheikh Abdullah bin Zayed Al Nahyan, met with his Israeli counterpart, Gideon]]></description>
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<p><strong>Riyadh –</strong> The United Arab Emirates Foreign Minister, Sheikh Abdullah bin Zayed Al Nahyan, met with his Israeli counterpart, Gideon Saar, in Abu Dhabi on Sunday to address the escalating Gaza conflict, emphasizing the urgent need for a ceasefire and an end to the worsening humanitarian crisis in the region, according to a UAE foreign ministry statement.</p>



<p>Sheikh Abdullah, who also serves as the UAE’s deputy prime minister, underscored the importance of halting hostilities, securing the release of hostages, and preventing further escalation in the Middle East. The meeting, attended by UAE Assistant Minister for Economic and Trade Affairs Saeed Mubarak Al Hajeri and UAE Ambassador to Israel Mohamed Mahmoud Al Khaja, marked a rare diplomatic engagement between the two nations since the Gaza war began in October 2023.</p>



<p>The UAE and Israel normalized relations in 2020 under the US-brokered Abraham Accords, but bilateral interactions have been limited amid the ongoing conflict sparked by Hamas-led attacks on Israel. Saar noted on X that this was his second meeting with Sheikh Abdullah, signaling a cautious resumption of dialogue.</p>



<p>During the talks, Sheikh Abdullah called for a “serious political horizon” to restart negotiations for a two-state solution, reaffirming the UAE’s longstanding support for the Palestinian people and their right to self-determination. He also stressed the need to curb extremism, tensions, and violence across the region, the ministry statement said.</p>



<p>The meeting coincided with Israel’s intensified military operations in Gaza, which resumed last month after the collapse of a US-mediated truce. The Hamas-run health ministry reports that over 1,330 Palestinians have been killed since the offensive restarted, bringing the total death toll since October 2023 to 50,695 — numbers cannot be independently verified. The war erupted when Hamas militants attacked southern Israel, killing 1,200 people and abducting 251 hostages, of whom 59 remain in Gaza—24 believed to be alive.</p>



<p>Sheikh Abdullah’s push for peace reflects growing regional concern over Gaza’s humanitarian toll, with the UAE positioning itself as a mediator advocating for stability and Palestinian rights amid a conflict showing no signs of abating.</p>
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		<title>UAE Sentences Three Iran-Backed Uzbeks to Death for Israeli Rabbi’s Murder</title>
		<link>https://www.millichronicle.com/2025/03/uae-sentences-three-iran-backed-uzbeks-to-death-for-israeli-rabbis-murder.html</link>
		
		<dc:creator><![CDATA[Millichronicle]]></dc:creator>
		<pubDate>Sun, 30 Mar 2025 11:51:40 +0000</pubDate>
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		<category><![CDATA[Zvi Kogan]]></category>
		<guid isPermaLink="false">https://millichronicle.com/?p=54429</guid>

					<description><![CDATA[Abu Dhabi – The UAE has sentenced three Iran-backed Uzbek nationals to death for the kidnapping and murder of Israeli-Moldovan]]></description>
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<p><strong>Abu Dhabi – </strong>The UAE has sentenced three Iran-backed Uzbek nationals to death for the kidnapping and murder of Israeli-Moldovan Rabbi Zvi Kogan, Israeli sources in the Gulf reported. </p>



<p>The UAE’s Interior Ministry identified the convicted individuals as Olimpi Toirovich, 28, Makhmudjon Abdurakhim, 28, and Azizbek Kamlovich, 33. Authorities arrested the three men shortly after the crime, launching a swift investigation and legal proceedings.</p>



<p>Rabbi Kogan, 28, a young emissary dedicated to fostering Jewish life in the region, was reported missing on November 21, 2024. Three days later, his body was discovered in Al Ain, near the Omani border, sending shockwaves through the Jewish community and beyond. </p>



<p>The tragic loss of the young rabbi, who managed a kosher supermarket in Dubai and played a key role in Jewish outreach, has raised concerns about the safety of Jewish residents and visitors in the Gulf region.</p>



<p>According to reports, the suspects acted under orders from Iran’s Islamic Revolutionary Guard Corps (IRGC) and had been tracking Rabbi Kogan’s movements before abducting and killing him. This revelation has heightened tensions in an already sensitive geopolitical landscape.</p>



<p>The UAE’s swift legal response reflects its commitment to justice and the safety of its diverse communities. Emirati authorities have been praised for their decisive action, reinforcing the nation’s stance on security and coexistence.</p>



<p>Rabbi Kogan’s tragic death serves as a solemn reminder of the threats faced by religious minorities and the importance of vigilance in protecting all communities.</p>



<p>However, there is no official confirmation from Emirati authorities.</p>
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		<title>Abu Dhabi&#8217;s ADNOC in almost $11 billion approach for Covestro</title>
		<link>https://www.millichronicle.com/2023/06/abu-dhabis-adnoc-in-almost-11-billion-approach-for-covestro.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Wed, 21 Jun 2023 00:59:34 +0000</pubDate>
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		<category><![CDATA[Middle East and North Africa]]></category>
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		<category><![CDATA[united arab emirates]]></category>
		<guid isPermaLink="false">https://millichronicle.com/?p=39416</guid>

					<description><![CDATA[(Reuters) &#8211; Abu Dhabi National Oil Company (ADNOC) has approached German plastics and chemicals maker Covestro AG (1COV.DE) with a takeover proposal]]></description>
										<content:encoded><![CDATA[
<p><strong>(Reuters) &#8211;</strong> Abu Dhabi National Oil Company (ADNOC) has approached German plastics and chemicals maker Covestro AG (1COV.DE) with a takeover proposal worth more than 10 billion euros ($10.9 billion), two people familiar with the matter said on Tuesday.</p>



<p>The energy giant has made an informal offer for a per share price in the mid-50 euros, which compares with a Monday closing price of 40.31 euros, said the sources, asking not to be named because the matter is confidential.</p>



<p>ADNOC and Covestro declined to comment.</p>



<p>Covestro, a maker of transparent polycarbonate plastics, as well as chemicals for insulation and upholstery foams, in April issued earnings guidance that reassured markets about its growth prospects. It also resumed a share buyback programme.</p>



<p>Earlier on Tuesday it confirmed its outlook for 2023.</p>



<p>Shares in Covestro were up 14% at 46 euros at 1400 GMT, trading at their highest in more than a year.</p>



<p>A combination would give energy giant ADNOC, also a maker of refined products and petrochemicals, access to more advanced materials that go into electric vehicles, thermal insulation for buildings as well as coatings, adhesives and engineering plastics.</p>



<p>It would also support Abu Dhabi&#8217;s plans to diversify the economy away from energy.</p>



<p>As part of that transformation strategy, which also invited foreign investment, ADNOC began floating units in late 2017.</p>



<p>Over the past two years, it has separately listed businesses offering investors exposure to its petrochemicals, fertilisers, drilling services, gas as well as logistics businesses.</p>



<p>ADNOC Chief Executive Sultan al-Jaber is leading the company&#8217;s push into new energy, low carbon fuels, such as ammonia and hydrogen, as well as liquefied natural gas and chemicals.</p>



<p>ADNOC has expanded in Europe previously, agreeing to buy 24.9% of Austrian oil and gas group OMV (OMVV.VI) last December.</p>



<p>The OMV deal would indirectly also increase ADNOC&#8217;s holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD).</p>



<p>A move for Covestro would mirror the expansion of other Middle Eastern energy and petrochemical players into European materials and plastics businesses.</p>



<p>Saudi Aramco in 2018 acquired the shares it did not already own in synthetic-rubber maker Arlanxeo from German co-owner Lanxess (LXSG.DE) for 1.4 billion euros.</p>



<p>SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S).</p>



<p>Thanks to a 2007 deal to buy GE&#8217;s plastics unit, SABIC competes with Covestro in polycarbonate plastics.</p>
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