Strong US-Saudi ties will weather JASTA impact: Fahad Nazer

September 30, 2016

Jeddah, Sep 30: A leading Washington-based analyst feels that firmly rooted Saudi-US ties will weather all possible consequences of Wednesday’s passage of the controversial 9/11 bill, known as the Justice Against Sponsors of Terrorism Act (JASTA).

fahad nazerFahad Nazer, a non-resident fellow with the Arab Gulf States Institute in Washington (AGSIW), told Arab News that the current state of Saudi-US relations is strong and solid.

“Their close cooperation on counterterrorism, the continued Saudi preference for American weapons, the important role that Saudi Arabia plays in stabilizing international energy markets and the $70 billion worth of annual trade between the two countries will sustain the relationship for the foreseeable future,” he said.

In addition, he said, one should certainly not underestimate the massive soft power of “the thousands of Saudis who have studied in the US and the thousands of Americans who have made a living in Saudi Arabia over the years — they have all played an important role in building a level of trust and familiarity between Saudis and Americans.”

Having said all that, he admitted that it would be difficult to argue that the relationship has not experienced strain.

“JASTA’s becoming the law of the land is clearly troubling to Saudi officials,” said Nazer. “Crown Prince Mohammed bin Naif reiterated Saudi Arabia’s concern for the implications of the legislation and the principle of sovereign immunity. This concern was made clear in his address to the UN General Assembly last week.”

The Saudis have repeatedly said that the legislation could have an adverse impact on the way that international relations are conducted and that the US could leave itself open to similar measures by other countries which would make American diplomatic and military personnel vulnerable to prosecution.

“This is the same argument that senior US administration officials, including President Barack Obama himself and Secretary of Defense Ash Carter, have made on multiple occasions,” said Nazer. “The legislation goes beyond straining US-Saudi relations.”

According to Nazer, although Saudi officials are clearly frustrated by the continuing accusations that they are to blame for the Sept. 11, 2001, attacks, US government investigations have concluded that there is no evidence to support these allegations.

“It appears that Saudi officials take some solace in the fact that many US security and counterterrorism officials give Saudi Arabia high marks for the measures it has taken to counter Daesh and other terrorist groups,” he said.

“Yes, JASTA is now a serious concern, but Saudi officials are well aware that the US administration shares some of the same concerns,” said Nazer. “I think they understand that the American government and public are not monolithic.”

That can also be said of the US Congress, he said, pointing out that there is a stark contrast between the views of Senators John McCain and Rand Paul as far as relations with Saudi Arabia are concerned.

“The defeat of Sen. Paul’s measure that would have blocked $1.5 billion worth of weapons to Saudi Arabia last week suggests that some of the pillars of this relationship, including military purchases and training, remain strong,” he said.

“If one takes into account the administration’s position and various Congressional leaders’ public pronouncements, it appears that a majority of American officials in both parties still appreciate and support strong US-Saudi relations,” added Nazer.

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News Network
April 18,2020

Dubai, Apr 18: Saudi Arabia has reported 1,132 new coronavirus cases, taking the total number of confirmed COVID-19 patients to 8,274, the Ministry of Health revealed on Saturday.

The ministry has also announced five more deaths from the virus, taking to 92 the Kingdom’s death toll.

Recoveries
As for recoveries, 280 new recoveries were reported, pushing the total number of patients recovered to 1,329.

The ministry revealed that 79 per cent of today’s cases are expatriates and that 65 per cent of the cases were detected through intensified and active COVID-19 screening in densely-populated areas.

A total of 201 patients of Saturday’s cases have contracted the disease due to being in contact with existing cases, the ministry added.

The new infected cases have been placed under complete isolation and they are receiving necessary medical care, an official from the ministry said.

He affirmed that medical teams are intensifying efforts and screening tests in workers' neighbourhoods and accommodations in order to limit the spread of the disease.

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News Network
April 11,2020

Dubai, Apr 11: Saudi Arabia has reported another 382 new cases of coronavirus, bringing the total number of infections in the country to 4,033, the Ministry of Health announced on Saturday.

The ministry also confirmed five more deaths from the virus, pushing the death toll in Kingdom to 52.

A total of 35 people has made full recovery from the deadly disease, taking the tally of patients recovered to 720.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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