US-Arab coalition vows to crush ISIS

September 12, 2014

Jeddah, Sep 12: The world has come together in the fight against the Islamic State (IS) terror group with the GCC led by Saudi Arabia, agreeing to join the US-led campaign.

US-Arab coalition

At a crucial meeting hosted by Saudi Arabia in Jeddah on Thursday, foreign ministers of more than 10 countries vowed to crush the IS, which recently changed its name from the Islamic State of Iraq and Syria (or the Levant). The group is still known by the acronyms ISIL or ISIS.

“All of us have decided to take the fight to the ISIL camp and to defeat them through a coordinated military campaign,” said US Secretary of State John Kerry at a joint press conference with Foreign Minister Prince Saud Al-Faisal. “They are evil and have tarnished the image of the great religion of Islam.”

Kerry said Arab states would play a critical role in an anti-IS coalition but there would be no Arab or foreign soldiers on the ground. “The Iraqi army is robust and we will retrain them, recast them to take the fight to the enemy camp,” he said. “No country in the alliance is talking about sending ground troops.”

Kerry praised Saudi Arabia and its leadership for taking an unequivocal stand on the IS. “We are grateful to King Abdullah in taking the lead in hosting this meeting at such a critical time in the history of mankind,” he said. “This is a moment in history when leaders can bend the arc of history. This coalition can become a model for addressing the problem of extremism wherever it exists. We are all up to this task. We believe that we will beat back the evil of ISIS.”

He said the meeting was not limited to one state. “Libya, Lebanon, Yemen … We discussed all countries that have become safe havens for terrorists,” he said. “We will fight this evil through all available means.”

The conference was attended by Sheikh Abdullah bin Zayed Al-Nahyan of UAE, Sheikh Sabah Khaled Al-Sabah of Kuwait, Khaled Al-Attiyah of Qatar, Yousuf bin Alawi Abdullah of Oman, Sheikh Khalifa bin Ahmed Al-Khalifa of Bahrain, Ibrahim Al-Jaafari of Iraq, Nasser Judeh of Jordan, Sameh Shoukry of Egypt, Gebran Bassil of Lebanon and Mevlut Cavusoglu of Turkey.

Kerry acknowledged that the IS cannot be defeated only through military means. “A concerted effort has to be made to stop them from abusing the name of Islam,” he said. “No religion, not a great religion like Islam would ever condone the kind of acts that ISIS perpetuates.”

Prince Saud said there was total unanimity and clarity of purpose in defeating the IS. When an American journalist asked about the disagreements between the Saudi and American positions on Iraq and Syria in the past, he said: “Today, I will only talk about agreements. Nothing more, nothing else.”

Referring to US President Barack Obama’s television address to the American nation on Wednesday, Prince Saud said Obama had outlined important points. “That shows the seriousness of the US on many issues that bedevil the region,” he said.

Obama said he had ordered the US military to expand its operations against the IS. “Our objective is clear: We will degrade, and ultimately destroy ISIL through a comprehensive and sustained counter-terrorism strategy,” Obama said. “I will not hesitate to take action against ISIL in Syria, as well as Iraq.”

Obama announced that the US would ramp up military assistance to the Syrian opposition. “In the fight against ISIL, we cannot rely on an Assad regime that terrorizes its own people — a regime that will never regain the legitimacy it has lost. Instead, we must strengthen the opposition as the best counterweight to extremists such as ISIL, while pursuing the political solution necessary to solve Syria’s crisis once and for all.”

Kerry said the formation of a coalition against the IS comes on a very somber day. “Today is Sept. 11 and on this day 13 years ago, terrorists unleashed their evil designs and all of us are still facing the consequences of that act of terror,” he said.

Kerry said the participating countries also agreed to stop the flow of funds and fighters to the IS and help rebuild communities brutalized by the group’s members.

He said the Russian position that there should be a United Nations mandate to conduct aerial attacks inside Syria and Iraq was laughable.

“I must say if it weren’t so serious what’s happening in Ukraine one might almost laugh at the idea of Russia raising the issue of international law or any question of the UN,” said Kerry. “I am surprised that Russia has questioned the legality of the attacks.”

On reports about Saudi Arabia conducting training for the moderate Syrian opposition fighters, Prince Saud said all neighboring countries have been doing so for the legitimate Free Syrian Army personnel. “There is nothing new in it,” he said.

The presence of Iraqi Foreign Minister Ibrahim Al-Jaafari augured well for the coalition. Saudi Arabia has backed the formation of a new government in Iraq, which took place two days ago. The previous divisive government of Nuri Al-Maliki was seen as the lightening rod for disaffected Sunnis of Iraq to gravitate toward the IS. The new Iraqi Prime Minister Haider Al-Abadi enjoys the trust of almost all neighboring countries, including Saudi Arabia.

Kerry will meet Arab League chief Nabil Elaraby to brief the secretary general on the results of the Jeddah conference, said the Saudi Press Agency.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 25,2020

Riyadh, Apr 25: Saudi Arabia announced nine deaths and 1,197 new cases of the COVID-19 virus on Saturday.

Of these cases, 120 were recorded in Madinah, 364 in Makkah, 271 in Jeddah, 170 in Riyadh and 43 in Dammam.

The number of people who had recovered from the coronavirus in the Kingdom increased to 2,214 after 165 patients were reported to have recovered.

A total of 136 people have died of the disease in the Kingdom so far.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 16,2020

Cairo, Mar 16: Saudi crown prince Mohammed bin Salman said G20 summit will work to combat coronavirus and coordinate efforts to ease its economic burdens, state news agency SPA said on Sunday.

In a phone call with British Prime Minister Boris Johnson, Salman discussed international efforts to fight the flu-like disease, saying the next G20 summit, which will be hosted by the Kingdom, will work on finding medical solutions, SPA added.

The G20 Summit is an annual gathering of representatives of the world's largest economies.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.