World ‘cannot trust Iran’ over nuclear future: Saudi foreign minister

Arab News
February 23, 2018

London, Feb 23: Adel Al-Jubeir, Saudi minister of foreign affairs, said on Thursday that the nuclear deal with Iran was unacceptable because Tehran could not be trusted to not produce a nuclear bomb in the future.

The so-called “sunset clause” in the Joint Comprehensive Plan of Action (JCPOA) means that in eight to ten years’ time Iran could manufacture a nuclear bomb “within weeks.”

Addressing the foreign affairs committee of the European Parliament, Al-Jubeir said: “We believe the sunset provision is very dangerous. We don’t trust that Iran will not try (to make a nuclear bomb) eight to 10 years from now.

“By the time they kick out the inspectors and by the time the condemnations end, they’ll have one bomb,” he said. “By the time they get a resolution in the UN, they’ll have three bombs and by the time the resolution is in place they’ll have a dozen bombs. And we are right next to them.

“Our point is enough is enough. They need to start to act as a normal country. The revolution is over. If they want to be respected in the world they need to abide by the rules of the world.”

The sunset clause allows Iran to gradually increase production of centrifuges and uranium enrichment after eight to ten years.

Speaking in London at the Royal Institute for International Affairs at Chatham House a few hours earlier, Iran’s Deputy Foreign Minister Abbas Araghchi denied that the JCPOA contained a sunset clause, saying the deal made clear Iran’s “permanent” commitment to not having nuclear weapons.

But he insisted the nuclear deal still gave Iran the right to continue its ballistic missile program.

“We — that is Iran and the Joint Comprehensive Plan of Action participants — decided quite intentionally to de-link Iran’s nuclear program from any other issue. Otherwise if we had wanted to have a package — with ballistic missiles, regional issues — then we would still be in negotiations,” said Araghchi, who is also Iran’s chief nuclear negotiator.

“We were successful (in negotiating JCPOA) because we focused on one issue. It would be a big mistake if anyone tried to link the Joint Comprehensive Plan of Action to any other issue — to regional issues, to Syria or Yemen. Not only would we lose the JCPOA but it would not help those other issues.”

He accused the US of pouring “poison” on Iran by prevaricating over whether Tehran had complied with the terms of the nuclear deal.

“The US has created an atmosphere of uncertainty. This is like poison for the business community for Iran. This destructive atmosphere prevents banks, companies, entities from working with Iran.”

US President Donald Trump’s denunciations of the deal were “a violation of the letter and the text of the deal, not just the spirit.”

Iran had accepted some restrictions on its stockpiles of material as part of the deal to earn the trust of the other parties to the deal.

“We have accepted these limitations to our nuclear program to build confidence,” Araghchi said. “When these restrictions are finished it doesn’t mean Iran can go for the bomb.”

Araghchi told the Chatham House audience that while the nuclear deal “is a successful story for you — the West,” Iranians had not benefited greatly from the lifting of sanctions because of what he described as the suspicion and mistrust generated primarily by the US.

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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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News Network
January 3,2020

Hong Kong, Jan 3: Oil prices soared more than four per cent Friday following claims that the US had killed a top Iranian general, ratcheting up tensions between the foes and fuelling fears of a conflict in the crude-rich region.

The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad international airport early Friday, according to Hased, a powerful Iraqi paramilitary force linked to Tehran.

Brent surged 4.4 per cent to USD 69.16 and WTI jumped 4.3 per cent to 63.84.

“Oil prices still have room for further upside as many analysts are still having to upgrade their demand forecasts to include a rather calm period on the trade front,” Moya said, referring to the warming trade relation between China and the United States.

“President Trump is likely to take a break on being ‘tariff man’ until we get beyond the presidential election in November.”

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News Network
April 27,2020

Dubai, Apr 27: Saudi Arabia has reported 1,289 new Covid-19 cases on April 27, its Ministry of Health tweeted.

Of the newly diagnosed cases, Jeddah recorded 294 infections, followed by Makkah (218) and Madinah (202).

The ministry also confirmed five additional coronavirus-induced deaths, spiking the total death toll to 144.

2,507 people are talking about this
Since the outbreak of the virus strain in the Chinese city of Wuhan late last year, Saudi Arabia has reported a total of 18,811 Covid-19 infections.

As many as 2,531 patients have till now recovered from the virus.

Oman
The sultanate registered 51 new Covid-19 cases on April 27, including 37 nationals and 14 expatriates, spiking the total number of infections to 2,049, Oman News Agency tweeted.

Meanwhile, 10 coronavirus-related deaths have been confirmed in the country.

Qatar
The Ministry of Public Health has reported 957 Covid-19 cases among the 3,420 people tested in the last 24 hours.

As many as 85,709 people have been tested for the virus across the country.

The total number of Covid-19 infections since the outbreak has now risen to 11,244.

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