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☆ Saudis aren’t weaponizing oil like Americans claim, top official says
▼ + stars: | 2022-10-12 | by ( Joshua Berlinger | ) edition.cnn.com time to read: +6 min

Experts also fear that continued high oil prices could make it more difficult for the US to tamp down inflation, which has already skyrocketed this year. “Saudi Arabia is taking the side of trying to ensure the stability of the oil markets.”“Saudi Arabia does not politicize oil. Saudi officials have insisted that the production cut is being done to protect the country’s economic interests. Democratic Sen. Richard Blumenthal of Connecticut on Wednesday called for immediate action on his bill that would stop US arm sales to Saudi Arabia. When asked about growing calls in Washington to limit ties with Saudi Arabia, al-Jubeir said he hoped that such talk was motivated by domestic politics ahead of the midterms.

☆ A top Senate Democrat threatens to block US cooperation with Saudi Arabia as MBS deepens ties with Putin
▼ + stars: | 2022-10-10 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

Sen. Bob Menendez threatened to block cooperation with Saudi Arabia. Menendez went on to excoriate Saudi Arabia, OPEC's leading member, accusing it of helping "underwrite Putin's war through the OPEC+ cartel." The Kingdom of Saudi Arabia chose the latter in a terrible decision driven by economic self-interest," Menendez said. Relations between the US and Saudi Arabia have been on shaky ground for years, largely since the brutal 2018 murder of Jamal Khashoggi by agents of the Saudi government. On the campaign trail, President Joe Biden pledged to make Saudi Arabia a "pariah" over Khashoggi's murder.

☆ Fury at Saudi Arabia revives calls for US to throw the book at OPEC
▼ + stars: | 2022-10-07 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

New York CNN Business —OPEC+’s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response. And as Democratic Congressman Ro Khanna told CNN earlier this week, in some ways the United States is less dependent on Saudi Arabia and other OPEC nations than in the past. US oil production has skyrocketed over the past 15 years, driving down foreign oil imports. Last year, US crude oil imports from OPEC nations stood at just 798,000 barrels per day. OPEC nations are among the only countries with the firepower to fill any gap created by the potential loss of Russian supply.

☆ Everything you want to know as OPEC+ agrees to cut oil production
▼ + stars: | 2022-10-06 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +7 min

OPEC+ agreed to cut production. But the group — which includes Saudi Arabia, the United Arab Emirates, and Russia — agreed Wednesday to slash daily oil production by 2 million barrels, in a bid to send crude prices higher. But OPEC+ defended their decision, saying it was in response to "uncertainty that surrounds the global economic and oil market outlooks." At a news conference after the meeting, the Saudi energy minister added: "We would rather be pre-emptive than be sorry," the New York Times reports. The country's deputy prime minister, Alexander Novak, said the EU's plan could lead to Russia temporarily cutting oil production further — a move that would see crude prices rise, and gasoline follow.

☆ Saudi Arabia just won a bid for the 2029 Asian Winter Games. The $500 billion city they're set to be hosted in doesn't exist yet.
▼ + stars: | 2022-10-05 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

Saudi Arabia is set to become the first country in West Asia to host the Winter Asian Games. But, like the rest of Neom, Trojena doesn't exist yet; it's slated to be completed in 2026, per the AFP. Neom, Saudi Arabia, on January 12, 2021. The Asian Winter Games are held every four years. Saudi Arabia stands to be the first West Asian country to host the event, which was most recently held in Sapporo, Japan, in 2017.

☆ Saudi Crown Prince Mohammed bin Salman Named Prime Minister
▼ + stars: | 2022-09-28 | by ( Summer Said | ) www.wsj.com time to read: 1 min

Saudi Crown Prince Mohammed bin Salman is leading an economic overhaul to reduce the kingdom’s dependence on oil, while also punishing dissent and limiting free speech. Saudi Arabia’s King Salman Tuesday named his son, Crown Prince Mohammed bin Salman , as prime minister Tuesday, boosting the profile of the 37-year-old day-to-day ruler of the kingdom as he tries to end years of international isolation over a journalist’s killing. Prime minister, a title traditionally held by the Saudi monarch, will extend Prince Mohammed’s tight grip on power, as he already oversees the country’s most sensitive portfolios—the economy, defense and oil. King Salman also sees his son as a national figure who represents the kingdom’s restless younger generation.

☆ Saudi NEOM's tech unit rebrands, invests $1 bln in 2022 -CEO
▼ + stars: | 2022-09-27 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Saudi Crown Prince Mohammed Bin Salman announces a zero-carbon city called "The Line" to be built at NEOM in northwestern Saudi Arabia, January 10, 2021. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS/File PhotoRIYADH, Sept 27 (Reuters) - NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday. NEOM is Crown Prince Mohammed bin Salman's most ambitious project yet, although it has also met with scepticism from some observers. "NEOM is really becoming, in my opinion, the innovation engine for the GCC," he said in an interview with Reuters. Subscriptions to NEOM's metaverse platform will help people from around the world to virtually visit before physically investing in the city, Bradley said.

☆ Saudi king names crown prince as prime minister
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Saudi Crown Prince Mohammed bin Salman meets with Greek Prime Minister Kyriakos Mitsotakis (not pictured) at the Maximos Mansion in Athens, Greece, July 26, 2022. REUTERS/Louiza VradiSept 27 (Reuters) - Saudi Arabia's King Salman bin Abdulaziznamed his son and heir Prince Mohammed bin Salman as the kingdom's prime minister and his second son Prince Khalid as defense minister, a royal decree said on Tuesday. The reshuffle kept another son, Prince Abdulaziz bin Salman, as energy minister, theroyal decree, carried by state news agency SPA, said. Foreign Minister Prince Faisal bin Farhan Al Saud, Finance Minister Mohammed al-Jadaan and Investment Minister Khalid al-Falih remained unchanged, the decree showed. Prince Khalid bin Salman, MbS's younger brother, previously served as deputy defense minister.

☆ Saudi Arabia's wealth fund hires banks for debut green bonds
▼ + stars: | 2022-09-27 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterDUBAI, Sept 27 (Reuters) - Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has hired banks including Citi and JPMorgan (JPM.N) to arrange a debut issuance of multi-tranche U.S. dollar-denominated green bonds, a document showed on Tuesday. Sources told Reuters earlier this month that PIF would issue the long-planned green bonds this month or in October. Register now for FREE unlimited access to Reuters.com RegisterA debut issuance in tranches of five, 10 and potentially a longer-dated tenor will follow, subject to market conditions. "PIF is acting as the key vehicle to achieve KSA (the Kingdom of Saudi Arabia) green aspirations," the presentation said, referring to an ambitious economic reform agenda to wean the economy off oil. read more($1 = 3.7620 riyals)Register now for FREE unlimited access to Reuters.com RegisterReporting by Yousef Saba; Editing by Louise Heavens and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

The crown prince of Saudi Arabia, Russian oligarch Roman Abramovich , and a jet-set Ukrainian negotiator played key roles in months of talks that led to the release of more than 250 prisoners by Russia and Ukraine this week in a broader deal involving Turkey, according to U.S. and Saudi officials and others familiar with the negotiations. Mr. Abramovich personally accompanied 10 prisoners, including British and American detainees captured by Russia in Ukraine, on a private jet that took them to Riyadh, Saudi Arabia, from Russia earlier this week, Saudi officials said. Other people familiar with the situation confirmed Mr. Abramovich’s involvement.

☆ Saudi crown prince meets with Turkish officials- SPA
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterSaudi Crown Prince Mohammed bin Salman looks on during a signing ceremony at the Maximos Mansion, in Athens, Greece, July 26, 2022. REUTERS/Louiza VradiSept 24 (Reuters) - Saudi Arabia's Crown Prince Mohammed bin Salman met with Turkey's Finance Minister Nureddin Nebati and Ibrahim Kalin, Turkish President Tayyip Erdogan's spokesman and chief foreign policy adviser, in Jeddah on Saturday, Saudi state news agency SPA reported. Turkey is hoping for a currency swap deal with Saudi Arabia, after it established one with the United Arab Emirates earlier this year. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Nayera Abdallah Editing by Peter GraffOur Standards: The Thomson Reuters Trust Principles.

The crown prince of Saudi Arabia, Russian oligarch Roman Abramovich , and a top Ukrainian negotiator played key roles in months of talks that led to the release of more than 250 prisoners by Russia and Ukraine this week in a broader deal involving Turkey, according to U.S., Ukrainian and Saudi officials and others familiar with the negotiations. Mr. Abramovich personally accompanied 10 prisoners, including British and American detainees captured by Russia in Ukraine, onto a private jet that took them to Riyadh, Saudi Arabia, from Russia earlier this week, Saudi officials said. Other people familiar with the situation confirmed Mr. Abramovich’s involvement.

☆ Analysis: Saudi prince's Ukraine mediation signals 'useful' Russia ties - analysts
▼ + stars: | 2022-09-23 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +5 min

With Prince Mohammed's mediation, Russia on Wednesday released 10 foreigners it had captured in Ukraine, including five Britons and two Americans. He denied the Crown Prince had become involved to rehabilitate his reputation. U.S. citizens Alexander Drueke, 39, and Andy Huynh, 27, both from Alabama, are expected to leave Saudi Arabia within days, officials said. But Saudi Arabia has shown little readiness to join the effort to isolate Russia. U.S. National Security Adviser Jake Sullivan, Secretary of State Antony Blinken and British Prime Minister Liz Truss thanked the Saudi crown prince for his role.

☆ Billionaire Russian oligarch Roman Abramovich met Saudi Prince Mohammed bin Salman to help broker a Russia-Ukraine prisoner swap, report says
▼ + stars: | 2022-09-23 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Russian oligarch Roman Abramovich and Saudi Prince Mohammed bin Salman met in late August. Their meeting helped broker a Ukraine-Russia prisoner swap announced Thursday, Bloomberg reported. In a major prisoner swap announced Thursday, Ukraine handed over 55 captives, including pro-Russian tycoon Viktor Medvedchuk. The Saudi, Ukrainian, and Russian governments did not immediately respond to separate requests for comment from Insider on the prisoner swap Friday. The Sun newspaper reported Thursday that Abramovich was on a private jet used to transport the freed foreign prisoners from Russia to Saudi capital Riyadh.

☆ Russia releases 10 foreigners captured in Ukraine, after Saudi mediation, Riyadh says
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERSRIYADH, Sept 21 (Reuters) - Russia on Wednesday released 10 foreign prisoners of war captured in Ukraine, following a mediation by Saudi Crown Prince Mohammed bin Salman, the Saudi foreign ministry said. "The relevant Saudi authorities received and transferred them from Russia to the kingdom and are facilitating procedures for their respective countries," the statement said. A Saudi official said they were five Britons, two Americans, a Croatian, a Morrocan and a Swedish national. Large numbers of foreigners have travelled to Ukraine to fight since Russia's Feb. 24 invasion. Some of them have been caught by Russian forces, along with other foreigners in the country who say they were not fighters.

☆ UK lawmaker says Aiden Aslin among prisoners released by Russian-backed forces -statement
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Video released June 8, 2022. Supreme Court of Donetsk People's Republic/Handout via REUTERS TV ATTENTIONLONDON, Sept 21 (Reuters) - British lawmaker Robert Jenrick on Wednesday said Aiden Aslin was among the prisoners released by Russia on Wednesday following a mediation by Saudi Crown Prince Mohammed bin Salman. "I am delighted that my constituent, Aiden Aslin, and the other British prisoners of war held captive by the Russian authorities have finally been released and are on their way back to the UK," Jenrick said in an emailed statement. Aslin was captured earlier this year then sentenced to death by a court in the self-proclaimed Donetsk People's Republic (DPR), one of Russia's proxies in eastern Ukraine. Register now for FREE unlimited access to Reuters.com RegisterReporting by William James Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

The move is unexpected, since Russian-backed separatists last month said there would be a trial of Azov personnel, who Moscow describes as Nazis. Register now for FREE unlimited access to Reuters.com RegisterIn a statement, Yermak said the freed prisoners included Azov commander Lieutenant Colonel Denys Prokopenko and his deputy, Svyatoslav Palamar. Also at liberty is Serhiy Volynsky, the commander of the 36th Marine Brigade of the Ukrainian Armed Forces. Earlier in the day, Saudi Arabia said Russia had released 10 foreign prisoners of war captured in Ukraine following mediation by Saudi Crown Prince Mohammed bin Salman. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Ljunggren Editing by Alistair Bell and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Russia frees 2 Americans who were captured while fighting for Ukraine and threatened with the death penalty
▼ + stars: | 2022-09-21 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Two Americans who were captured by Russia while fighting in Ukraine have been released. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. The two men, Alexander John-Robert Drueke, 39, and Andy Tai Ngoc Huynh, 27, were detained in June while fighting in eastern Ukraine. The men were reportedly part of a 10-person group released as part of a prisoner exchange between Ukraine and Russia. At the time, Kremlin spokesperson Dmitry Peskov said the men could face the death penalty.

☆ Trump may be called to testify at ally's foreign agent trial, judge says
▼ + stars: | 2022-09-19 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

U.S. District Judge Brian Cogan in Brooklyn told several prospective jurors for Barrack's trial about the prospect of Trump testifying to gauge whether they might be biased against the defendant. Barrack raised money for Trump during the 2016 presidential campaign and chaired Trump's 2017 inaugural committee. Twelve jurors and four alternates are due to serve in the trial, which is expected to last about one month. Cogan dismissed one prospective juror who said she did not like Trump, prompting the judge to ask if she could set her feelings aside. the prospective juror asked.

☆ The world's most powerful are gathered in London for Queen Elizabeth II's funeral. Here's who is — and isn't — there
▼ + stars: | 2022-09-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Wpa Pool | Getty Images Entertainment | Getty ImagesHundreds of global dignitaries are gathered in London Monday to attend the funeral of Queen Elizabeth II, marking a level of ceremony unseen in the U.K. for decades. Britain's King Charles III waves as he's driven down the Mall in London on September 19, 2022, ahead of the State Funeral Service of Britain's Queen Elizabeth II. - Leaders from around the world will attend the state funeral of Queen Elizabeth II. President of United States Joe Biden and Jill Biden arrive for the State Funeral of Queen Elizabeth II at Westminster Abbey on September 19, 2022 in London, England. Japan's Emperor Naruhito and his wife Empress Masako arrive at Westminster Abbey in London on September 19, 2022, for the State Funeral Service for Britain's Queen Elizabeth II.

As Russia bombs its neighbor, what has become the biggest European war since 1945 has had an outsized impact far south, in the Middle East. Here are four ways the Ukraine war has affected the Middle East over the last six months:Energy exporters are cashing inThe war has seen oil prices rise to as much as a 14-year high. Despite vowing to turn Saudi Arabia into a pariah, US President Joe Biden visited Saudi Arabia in a landmark trip last month. Saudi Arabia: #How_many_wives_would_you_takeSaudi men took to Twitter to ask each other how many wives they’d like to take. According to the 2019 report by the Doha International Forum called State of Marriage in the Arab World, information on polygamy in Saudi Arabia is not readily available.

☆ ‘Unique’ Aramco IPO changes the dynamics of Saudi Arabia’s economy, stock market CEO says
▼ + stars: | 2018-05-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

"The Saudi Stock Exchange is as excited as everybody else with the listing of Aramco," Khalid Abdullah Al Hussan, CEO of the Saudi Stock Exchange, told CNBC's Hadley Gamble in Riyadh on Wednesday. watch nowThe world's largest initial public offering (IPO) will radically transform the way in which Saudi Arabia's economy operates, according to the chief executive of the Saudi Stock Exchange. So far, Saudi Arabia's Tadawul is the only confirmed listing exchange for state-owned energy giant, Saudi Aramco. "The Saudi Stock Exchange is as excited as everybody else with the listing of Aramco," Khalid Abdullah Al Hussan, CEO of the Saudi Stock Exchange, told CNBC's Hadley Gamble in Riyadh on Wednesday. "It is almost doubling the size of the Saudi market and that is definitely changing our position as far as size ... (And) will change the dynamics of how the Saudi capital market — as well as the economy — operates," he added.

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