Group items tagged

To ease the isolation and economic pressure, Iran is looking to strengthen trade and financial relations with Russia as well as China and neighboring countries such as Turkey, Iraq and Afghanistan.

Iran has been seeking to conclude banking agreements and establish non-dollar and SWIFT-free financial mechanisms with these countries. Iran's efforts in this regard in relation to Iraq, the United Arab Emirates and Turkey have been somewhat fruitful.

 trade between Iran and Russia grew 24.6% in the first seven months of 2019, reaching $1.33 billion. Russian exports to Iran reached $999.3 million (39.3% growth) and Iran’s exports to Russia stood at $333.7 million — a 6.2% decrease compared with the same period in the preceding year. Iran's share of Russia's total foreign trade rose from 0.3% to 0.4%.

Saudi Arabia says it is "insulted" by a parliamentary inquiry into how the UK deals with the country and Bahrain. Saudi officials have told the BBC they are now "re-evaluating their country's historic relations with Britain" and that "all options will be looked at".

In September, the British Parliament's Foreign Affairs Committee (FAC) announced it would be opening a wide-ranging review into the UK's relations with Saudi Arabia and Bahrain

The FAC said its new inquiry would look closely at how the UK balances its various interests in these countries in defence, trade, security, counter-terrorism and human rights.

Washington is now embarked on a campaign to persuade itself, the American people and the rest of the world that the ‘global war on terrorism’ (GWoT) will be a ‘long war’. This ‘long war’ is explicitly compared to the Cold War as a similar sort of zero-sum, global-scale, generational struggle against anti-liberal ideolo-gical extremists who want to rule the world.

When the Cold War ended, Washington seemed to experience a threat defi cit, and there was a string of attempts to fi nd a replacement for the Soviet Union as the enemy focus for US foreign and military policy: fi rst Japan, then China, ‘clash of civilizations’ and rogue states

the GWoT had the feel of a big idea that might provide a long-term cure for Washington’s threat defi ci

British Prime Minister Theresa May has said that she wants to deepen defence cooperation with Gulf countries and work towards signing "an ambitious trade agreement" with them.

it is possible to say that she was mainly looking for the economic good news that the UK desperately needs at the moment

Theresa May was "in search of an alternative to the economic stability that the EU provided for the UK before the Brexit vote," Al Jazeera's Elshayyal said. "May now sees an opportunity in the GCC, not only because of the vast natural resources that are here, but also because of the idea that the GCC countries between themselves have a lot of trade agreements already in place. "So, to her, setting up a trade agreement here is like setting up something with a much bigger entity rather than just looking for bilateral trade ties between the UK and another country."

“The Russians need us commercially more than we need them. The entire global market is our playground, from Australia to Hawaii. We are traders by birth and culture. The GCC countries produce more than 26 percent of the world’s oil. We are gradually transforming into a global market for gas supplies and renewable energy, in particular, solar energy. We truly could do without them.”

the GCC is looking to adapt to recent global economic and trade developments. This means seeking to strengthen ties with other fast-growing and influential countries such as Brazil, China and India, without neglecting trade relations with current primary partners. These international changes, which include the European Union’s enforced trade restrictions on GCC countries, require the GCC to reform its global economic relations

Should the mass adoption of electric vehicles occur, access to reliable and affordable sources of minerals like cobalt, graphite, lithium, manganese, and nickel, which are used in modern electric-vehicle batteries, will come to occupy a larger share of energy security concerns, especially since one country has already gained control over much of the world’s production and processing of those minerals

oil has remained abundant and affordable, despite major production disruptions during the Arab Spring from 2010-2012, in Libya from 2013-2016, and in Venezuela after 2017. In fact, oil prices had dropped 60 percent from their 2008 highs by early 2020, even before the COVID-19 pandemic had made a dent in the global economy.

falling oil prices throughout the 2010s may have lulled Western policymakers into believing that the Russian Federation, whose economy is heavily reliant on oil and natural gas exports, would become more docile. It did not; instead, it continued to modernize its military and intimidate its neighbors

Scientists first produced Captagon, the brand name of the drug fenethylline, in the 1960s to treat depression and children with attention deficit hyperactivity disorder. Two decades later, the World Health Organization banned the substance due its high potential for addiction, abuse, and other adverse health effects. But counterfeit Captagon—which is sometimes just a cocktail of amphetamines with no fenethylline—remains in demand on the black market in the Middle East.

pills intercepted in Salerno arrived on three ships from Latakia, a Syrian port, and Italian police quickly announced that the Islamic State was responsible for their production and shipment—allegedly to fund its global terrorism operations.

Global media outlets disseminated the information provided by the Italian police without questioning it, replicating misinformation without considering how a scattered group of Islamic State members could pull off such an operation—but the truth is, they probably didn’t

Turkish President Recep Tayyip Erdogan enters this weekend's G20 summit in Rome fresh off an African tour aimed at cementing lucrative partnerships during another spell of tensions with the West.From mining to health, energy to infrastructure, Turkish businesses are popping up across the resource-rich continent and signing deals hailed as a "win-win".

This pivot away from traditional European markets has already seen Turkey's trade with Africa balloon from $5.4 billion when Erdogan came to power in 2003 to $25.4 billion last year.

Erdogan once described Turkey as an "Afro-Eurasian" nation and has visited the most African countries -- 30 out of 54 -- of any non-African head of state.

Several of the region’s most pressing crises can be traced directly to the Trump summit, from the blockade of Qatar, which began two years ago this week, to the explosion of Libya’s “third civil war” in April. Far from collectively achieving its goals, the Saudi-led bloc forged two years ago has mostly just set itself back—and its members are increasingly turning against each other

Disagreement has also been growing within the countries in the Saudi-led bloc. Dubai, for instance, believes its economy has been directly hurt by the aggressive regional approach pursued by fellow emirate Abu Dhabi. Historically, Dubai’s priority has been to encourage tourism, trade, and foreign investment, while steering clear of regional conflicts. The persistent war in Yemen, the blockade of Qatar, and the internal security restrictions imposed across the United Arab Emirates by the increasingly dominant Abu Dhabi were bad for Dubai’s business. Experts estimate that Dubai loses $5 billion a year in trade with and shipping to and from Qatar, before even accounting for tourism, other trade activities, and losses incurred by the airline Emirates as a result of having to avoid Qatari airspace. “The effects of the Gulf crisis have been felt most severely in Dubai,” said Andreas Krieg, assistant professor at King’s College London. “Dubai might be economically hurting the most from the crisis, far more than Qatar.”

In the case of Bahrain, many view its boycott of Qatar as mere subordination to Saudi will, rather than as reflecting grievances of its own. Bahrain is one of the countries most affected by the blockade, in terms of trade, tourism and investment, and some officials, such as the prime minister, were not on board with the move.

On December 15, 16 and 17, 2017, ATTAC Morocco, a member of the global network for the abolition of illegitimate debts (CADTM), organised a Maghreb seminar on free trade agreements, agriculture and food sovereignty under the slogan: No to colonial agreements, for the defence of people's sovereign right on their agricultural, food and environmental systems. The seminar was held in Agadir, Morocco with the participation of activists coming from Egypt, Tunisia, Algeria and Morocco.

trade agreements have deepened the control of multinational companies on agriculture and maritime fishing, exacerbated food speculation, and destroyed subsistence agricultural and fishing systems. Moreover, they accelerated the unlimited quest for the promotion of genetically modified seeds and the generalisation of the export-oriented agriculture and fishing industry. In the global south, International Financial Institutions (IFIs) are pursuing neoliberal policies that further deregulate, open borders to the invasion of foreign capital and subsidised products and ensure the transfer of profits and wealth. These neoliberal dictates are leading to an increase in public debt at the expense of the popular classes who shoulder the burden of austerity policies

affirm our support for people's food sovereignty and their right to determine their own food system, a system that ensures the production of healthy food in sufficient quantity while protecting nature and remaining in harmony with it

an increasingly close economic and security relationship. Saudi Arabia supplies China with 18 percent of its energy needs, and it is expanding orders for petrochemical, industrial, and military equipment, much of which it previously obtained from the United States

Beijing is offering Riyadh a deal: Sell us your oil and help us stabilize global energy markets; choose whatever military equipment you want from our catalogue; and benefit as you like from cooperation with us in defense, aerospace, the automotive industry, health, and technology. In other words, the Chinese are offering the Saudis a bargain that appears to be modeled on the U.S-Saudi deal that stabilized the Middle East for 70 years.

many young Saudis naively tout the idea of replacing the United States with China. As graduates of U.S. universities and voracious consumers of U.S. pop culture and consumer technology, most educated Saudis feel close to the United States—close enough to feel bullied by what we see as unfair attacks by U.S. media and policymakers against us, our country, our leaders, and our culture. The alternative, for many, is to learn Mandarin and imagine future careers promoting Chinese industry and trade.

There is a certain irony in the Arab Gulf states’ rising power across the Middle East and North Africa. International prestige, the ability to intervene militarily in regional conflict, and holding the same leverage as international financial institutions in aid and investment are what these states have long coveted. But now that they have the power – both economic and military – Gulf states like Qatar, Saudi Arabia and the UAE are faced with the dilemma of demonstrating their dominance without destroying the neighbourhood.

Gulf states’ foreign policies are increasingly at odds with their economic interests

The economies of the Gulf states have changed dramatically since the beginning of the second oil boom, between 2003 and 2014. Joined together in the Gulf Cooperation Council (GCC) trade bloc, they are more integrated into the regional and wider international economy in trade and investment flows

in 1999, the Commodities Futures Trading Commission deregulated futures markets. All of a sudden, bankers could take as large a position in grains as they liked, an opportunity that had, since the Great Depression, only been available to those who actually had something to do with the production of our food

After World War II, the United States was routinely producing a grain surplus, which became an essential element of its Cold War political, economic, and humanitarian strategies -- not to mention the fact that American grain fed millions of hungry people across the world

Futures markets traditionally included two kinds of players. On one side were the farmers, the millers, and the warehousemen, market players who have a real, physical stake in wheat. This group not only includes corn growers in Iowa or wheat farmers in Nebraska, but major multinational corporations like Pizza Hut, Kraft, Nestlé, Sara Lee, Tyson Foods, and McDonald's -- whose New York Stock Exchange shares rise and fall on their ability to bring food to peoples' car windows, doorsteps, and supermarket shelves at competitive prices. These market participants are called "bona fide" hedgers, because they actually need to buy and sell cereals. On the other side is the speculator. The speculator neither produces nor consumes corn or soy or wheat, and wouldn't have a place to put the 20 tons of cereal he might buy at any given moment if ever it were delivered. Speculators make money through traditional market behavior, the arbitrage of buying low and selling high. And the physical stakeholders in grain futures have as a general rule welcomed traditional speculators to their market, for their endless stream of buy and sell orders gives the market its liquidity and provides bona fide hedgers a way to manage risk by allowing them to sell and buy just as they pleased.

the third Africa Investment Forum and the Intra-African Trade Fair, gatherings that seek to boost trade between Egypt and Africa

Egypt will also chair the African Union (AU) in 2019 and host the Common Market for Eastern and Southern Africa (COMESA) meeting in 2020.

Egypt previously served as president of the Organisation of African Unity (OAU) in 1964, 1989 and 1993. Cairo has long played a significant continental role, supporting the struggle for liberation by African countries throughout the 1950s.

Many diplomats have been dismayed by the Trump Administration; since the Inauguration, sixty per cent of the State Department’s highest-ranking diplomats have left. But Feeley broke with his peers by publicly declaring his reasons

Mariela Sagel, a prominent columnist with La Estrella, wrote to me, “Feeley’s lightning passage through Panama was as devastating to the self-esteem of Panamanians as it was for the Waked businesses. After less than two years on the job he quit, claiming that he was not in agreement with Trump’s policies. If those were his reasons, why didn’t he resign when that demented man won the Presidency?”

When Tillerson was fired, this March, eight of the ten most senior positions at State were unfilled, leaving no one in charge of arms control, human rights, trade policy, or the environment. For diplomats in the field, the consequences were clearly evident. In 2017, Dave Harden, a longtime Foreign Service officer, was assigned to provide relief to victims of the war in Yemen, one of the world’s worst humanitarian disasters. The entire diplomatic staff for the country was barely a dozen people. “We worked out of a three-bedroom house,” he said. “It felt like a startup.” There was no support from State, and no policy direction, he said: “The whole system was completely broken.” Harden resigned last month.

Saudi Crown Prince Mohammed bin Salman has rolled the dice with a US$ 374 million bid to acquire storied British soccer club Newcastle United. If approved by Britain’s Premier League that nominally maintains a high bar for the qualification of aspiring club owners, Prince Mohammed would have demonstrated that he has put behind him an image tarnished by Saudi conduct of a five-year long war in Yemen, the 2018 killing of journalist Jamal Khashoggi, systematic abuse of human rights and, more recently, the kingdom’s badly-timed oil price war with Russia.

the kind of financial muscle that allows it to acquire trophies that enable it to project itself in a different light and garner soft power rather than financial gain at a time of a pandemic and global economic collapse.

Aramco, the Saudi national oil company, was reported to be talking to banks about a US$10 billion loan to help finance its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC). The deal would pour money into the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund.

Saudi Arabian King Salman traveled to China Thursday to deepen economic ties between the world’s biggest oil exporter and the world’s second-largest oil consumer. It’s a key stop in the king’s six-week trip to Asia that comes as Riyadh struggles with a slumping oil market and a desperate need to diversify its economy.

up to $65 billion worth of economic and trade deals, spanning sectors from energy to space

more than 20 agreements on oil investments and in renewable energy