Saudi foreign policy favors peace over escalation: FM

Arab News
September 30, 2018

Jeddah, Sept 30: Saudi foreign policy is based on consistent principles, including peacefully resolving disputes and preventing escalation, Foreign Minister Adel Al-Jubeir told world leaders at the UN General Assembly in New York. Countering Iran’s “subversive strategies” is an important part of solving the many conflicts plaguing the Middle East, he said.

“Our region has never been spared from the scourge of terrorist groups,” he added, outlining Tehran’s support for such groups. The Houthi militia in Yemen depends on Iran, which has provided ballistic missiles that have been fired at Saudi cities, Al-Jubeir said. Saudi Arabia will “continue to facilitate all humanitarian efforts to end the disaster plaguing the Yemeni people,” he said. “We have sought to support the Yemeni economy, including recently with the establishment of a $2 billion fund based at the Central Bank of Yemen.”

Terrorism and extremism are among the most important challenges facing the entire world, Al-Jubeir said.

“We renew our call… for intensifying international cooperation to eliminate all forms of terrorism and to drain its sources of funding, and to punish those who support it and feed its activities in any way,” he added.

The boycott of Qatar is necessary as the country supports terrorism, harbors extremists and allows hateful rhetoric through its media outlets, he said.

“Sovereignty is a red line,” he added, saying the Kingdom rejects interference in its internal affairs “from any country.”

“Saudi Arabia has taken care of the Syrian people, and fulfilled Syrians’ aspirations to live safely in their land and to reach a political solution in accordance with the principles of the Geneva Declaration,” Al-Jubeir added.

“The Kingdom has worked to unite the Syrian opposition so that it can negotiate with the regime to ensure the security and stability of Syria and its unity, and to prevent foreign interference,” he said.

Al-Jubeir reiterated the need to “resolve the Libyan crisis” and preserve the country’s “unity and territorial integrity.” He also reaffirmed the Kingdom’s support for the efforts of the UN and its envoy to Libya. “The Kingdom is one of the largest donor countries in the humanitarian and development fields,” Al-Jubeir said.

Its assistance amounts to 3.7 percent of Saudi gross domestic product (GDP), “surpassing the UN-proposed rate of 0.7 percent of GDP,” he added.

Al-Jubeir highlighted the Kingdom’s “sincere partnership with the world to have a prosperous present and a bright future, and for future generations to live in security, stability and peace.” He wished the UN “more success in achieving its lofty goals.”

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Arab News
March 9,2020

Dubai, Mar 9: The eyes of the world will be on the oil markets when the big trading hubs in Europe and North America open following the end of the deal between Saudi Arabia and Russia that has helped to sustain crude at relatively high levels for the past three years.

There were big falls on Friday when ministers from the Organization of the Petroleum Exporting Countries (OPEC) failed to get a deal with non-OPEC members — the so-called OPEC+ — to extend output agreements. Brent oil was down nearly 10 percent at $45.27 going into the western weekend.

Saudi Aramco took immediate action to cut prices after the OPEC+ collapse, offering big discounts for crude deliveries from next month, when the current output restrictions end.

According to a notification sent to customers by Saudi Aramco, seen by Arab News, the Kingdom’s oil giant will cut between $4 and $8 per barrel, with the biggest discounts being offered to buyers in northwest Europe and the US.

Roger Diwan, an oil analyst at consultancy IHS Market, said: “We are likely to see the lowest oil prices of the past 20 years in the next quarter.”

West Texas Intermediate, the US oil benchmark, fell to $28.27 in November 2001.

The move raises the possibility of a “crude war” between the three biggest oil blocs — the US, Russia and the Arabian Gulf. Some analysts believe the American shale industry is more vulnerable to low prices than either the Russians or the Saudis.

Robin Mills, head of the Qamar consultancy, told Arab News: “I don’t think this was premeditated but Saudi Arabia has clearly swung quickly into action to put the Russians under pressure. But the Russians, with low debt and a flexible exchange rate, can cope with a few months of low prices.”

The boom in US shale has made the country the biggest oil producer in the world, but with high financing costs. Lower global prices would put a lot of shale companies out of business.

On the other hand, American motorists, and President Donald Trump, would be pleased to see lower fuel prices in an election year.

In Moscow, one prominent financier with ties to the Kingdom played down the long-term significance of the Vienna fallout.

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, told Arab News: “Saudi Arabia is our strategic partner, and cooperation between our two countries will continue in all areas. We will also continue to work within the framework of the Russia-Saudi Economic Council.”

One Russian official, who asked not to be named, added: “There is a good relationship between Alexander Novak, Russian energy minister, and his Saudi counterpart Prince Abdul Aziz bin Salman, and I am sure they will continue talking to each other less formally.”

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Agencies
July 19,2020

Kuwait City, Jul 19: Kuwaiti ruler Sheikh Sabah al-Ahmad al-Jaber al-Sabah has successfully undergone surgery early on Sunday, the emir's office said.

"His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah ... has undergone surgery this morning, with thanks to God for its success," the head of the emir's office Sheikh Ali Jarrah al-Sabah said, as quoted by state news agency KUNA.

The 91-year-old was admitted to hospital for a medical checkup.

Yesterday, a royal order was issued assigning Crown Prince Sheikh Nawaf al-Ahmed al-Sabah, the emir's designated successor, "to take over some constitutional jurisdictions of His Highness the Emir temporarily"

In August 2019, Kuwait acknowledged the emir suffered an unspecified medical "setback" that required him to be hospitalised.

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Agencies
August 8,2020

Beirut, Aug 7: A devastating explosion that destroyed much of Beirut might have been the result of a missile attack or bomb, Lebanese President Michel Aoun said, as the death toll from the blast rose to 154.

More than 2,700 tons of ammonium nitrate had been sitting in a port warehouse for six years, but there have been conflicting accounts about why Lebanese authorities decided to empty the shipment of explosive material. The vessel carrying the flammable cargo was heading from Georgia to Mozambique when it stopped in the Lebanese port to load up on iron, according to the ship’s captain.

By Friday, 19 suspects had been arrested and Lebanon’s former director general of customs Chafic Merhy had been questioned by military police.

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