The moral of P&O: too many strategic assets are in foreign hands

P & O once stood for ‘Peninsular and Oriental’, with pleasant connotations of sailings to Cadiz and Constantinople – but after the furious reaction to P&O Ferries’ sacking of 800 UK workers, to be replaced by cheaper overseas agency staff, you might think it stands for ‘Putin and his Oligarchs’.

With the mad Russian warmonger filling every headline, now is not a good time to turn yourself into a high-profile hate figure. With the pandemic barely over, now’s also not a good moment to be caught brutalising your workforce. But the man behind this sacking decision did all that in spades. He is Sultan Ahmed bin Sulayem, chairman of Dubai-based port operator and P&O Ferries owner DP World, and reported to have a private island and a hotline to Dubai’s ruling Al Maktoum family. In short, he’s the very essence of an Emirati oligarch – and no one anywhere is prepared to defend his company’s action.