Saudi Arabia and the United Arab Emirates are buying Russian oil products, the Wall Street Journal reports. The countries are using the deeply-discounted Russian oil for domestic consumption and refining, thus boosting their own export profits and undermining Western efforts to clamp down on Russian revenue streams enabling it to continue its war in Ukraine. The UAE will host COP28 in November, where the CEO of its state oil company will serve as president. Russian oil exports to the UAE tripled last year, and Saudi imports went from virtually none to 100,000 barrels per day. (Wall Street Journal $)