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☆ Pope Francis calls for investigation into Gaza genocide allegations
▼ + stars: | 2024-11-18 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +4 min

CNN —Pope Francis has said that allegations of a genocide in Gaza should be “carefully investigated” marking some of his strongest criticism yet of Israel’s war in the territory. “According to some experts… what is happening in Gaza has the characteristics of a genocide,” Vatican News, the Holy See’s official news outlet, cited the pontiff as writing in a forthcoming book. Pope Francis rarely comments on politics, often limiting his remarks to calls for peace. He lamented that “unarmed civilians are targets for bombs and gunfire” in Gaza and invoking scripture on war. Israel’s war in Gaza has killed more than 43,000 Palestinians, the ministry of health there says, and has flattened large swathes of the territory, triggering a humanitarian crisis.

Persons: Pope Francis, “, Hope, Yaron, ”, Omar Al, Saudi Arabia’s Crown Prince Mohammed bin Salman, Israel Organizations: CNN, Vatican, Vatican News, United Nations ’ International Court of Justice, Getty, ICJ, Hamas, UN, Saudi Arabia’s Crown Locations: Gaza, Israel, South Africa, Pretoria, Jabaliya, AFP, Parish

☆ Mohammed bin Salman: Saudi crown prince accuses Israel of committing ‘collective genocide’ in Gaza
▼ + stars: | 2024-11-12 | by ( Mostafa Salem | ) edition.cnn.com time to read: +2 min

CNN —Saudi Arabia’s Crown Prince Mohammed bin Salman has accused Israel of carrying out “collective genocide” in Gaza, in some of his strongest criticism of the country since the war began last year. Saudi Arabia strongly opposes Iran-backed militias such as Hezbollah and Hamas. Riyadh and Tehran repaired ties last year after decades of animosity over regional influence. Those attending the high-level meeting included Palestinian President Mahmoud Abbas, Lebanese caretaker Prime Minister Najib Mikati, Jordan’s King Abdullah II and Egyptian President Abdel Fattah el-Sisi. The conference was hosted by Saudi Arabia in Riyadh on November 11.

Persons: Saudi Arabia’s Crown Prince Mohammed bin Salman, Israel, Ayatollah Ali Khamenei, Adolf Hitler, Benjamin Netanyahu, Mohammad Reza Aref, General Hassan Nasrallah, Ismail Haniyeh, Yahya Sinwar, Mahmoud Abbas, Najib Mikati, Jordan’s King Abdullah II, Abdel Fattah el, Recep Tayyip Erdogan of, Bashar al, Assad of Organizations: CNN, Saudi Arabia’s Crown, Islamic, MBS, Iranian, Israeli Locations: Gaza, Saudi Arabia, Riyadh, Israel, Iran, Tehran, Recep Tayyip Erdogan of Turkey, Assad of Syria, Syria, ”

Simon & Schuster“That fucking Putin,” Biden said to advisers in the Oval Office not long after Russia’s invasion of Ukraine, according to Woodward. “This is what Putin plans to do,” CIA Director Bill Burns said to Biden, according to Woodward. Woodward asked Trump aide Jason Miller whether Trump and Putin had spoken since he left the White House. I wouldn’t purport to speak to what President Trump may or may not have done,” Haines said, according to Woodward. As Trump framed his presidential campaign around fear, Woodward writes that Graham said of the former president: “Trump is becoming more erratic.

Persons: CNN —, Bob Woodward, Joe Biden’s, Benjamin Netanyahu, Vladimir Putin, Bibi Netanyahu, he’s, ” Biden, Woodward, Simon, Schuster, Putin, “ Putin, ”, Donald Trump’s, Putin –, Trump, Biden, Netanyahu, Hunter Biden’s, – Woodward, – Biden, “, General Merrick Garland, Barack Obama’s, Barack, ’ Woodward, ” Woodward, Joe Biden, Brendan Smialowski, —, Bill Burns, I’ve, Putin “, Volodymyr Zelensky, Kamala Harris, Harris, Zelensky, Alex Wong, Jake Sullivan, Lloyd Austin, ” Austin, Sergei Shoigu, ” Shoigu, “ Mr, ” Colin Kahl, Abbott, Putin —, Covid —, ” Putin, ” Trump, Donald Trump, Trump’s, Jason Miller, ” Miller, National Intelligence Avril Haines “, ” Haines, ‘ Trump, Sen, Lindsey Graham, ” Graham, Biden “, “ You’ve, you’ve, ” “, Graham, “ Trump, ” ‘ Bibi, Israel, ” Netanyahu, “ Bibi, ’ ” Biden, Saudi Arabia’s Crown Prince Mohammed bin Salman, State Anthony Blinken, Blinken, Antony Blinken, Saudi Crown Prince Mohammed bin Salman, Evelyn Hockstein, Woodard, bin Salman, JAKE SULLIVAN, ” ‘, Garland ’, George W, Bush, Obama, Merrick Garland, ” Bush, Garland, Hunter Biden, “ Hunter, Biden —, ” Blinken, You’ve, that’s, Kevin Dietsch, ” Harris, Joe Manchin Organizations: CNN, Trump, Putin, White House, Villa, Grange, Getty, CIA, Munich Security Conference, ”, White, Pentagon, Russia, National Intelligence, South Carolina Republican, Iranian Revolutionary Guard Corps, Iran, Saudi Arabia’s Crown, State, MBS, Saudi Crown, South, Saudi, “ TRUMP, Biden, intel, Justice Department, Democratic Party, Democratic, Democratic National Convention, United Center Locations: Gaza, Ukraine, Afghanistan, Crimea, Russia, Geneva, AFP, “, Washington , DC, Russian, United States, Helsinki, North Korea, ”, Israel, Rafah, Syria, Iran, Saudi Arabia, Jordan, Beirut, Ula, Saudi, Palestinian, South Carolina, Chicago

☆ What we know about the Moscow concert hall attack
▼ + stars: | 2024-03-23 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +9 min

Nearly a dozen people have been detained in connection with the attack, which saw armed assailants storm a popular concert venue complex on the outskirts of the capital, killing more than 130 people. An unnamed male witness who survived the attack said the gunmen entered the concert hall and “started shooting everyone.”“I was sitting in the hall upstairs where the balconies were. Law enforcement officers outside the burning Crocus City Hall concert venue following the attack on Friday. The United States had previously warned Moscow that ISIS militants were determined to target Russia in the days before assailants stormed the concert hall. Video Ad Feedback ISIS claims responsibility for attack in busy Moscow-area concert hall 05:22 - Source: CNNWhat else is Russia saying?

Persons: “, ”, Molotov, Yulia Morozova, Andrey Vorobyov, ” Vorobyov, Olga Maltseva, Amaq, Adrienne Watson, Putin, people’s, Alexander Bortnikov, Maria Zakharova, David Cameron, Olaf Scholz, Emmanuel Macron, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Xi Jinping, Antonio Guterres Organizations: CNN, Attackers, Ostorozhno Novosti, Reuters, Crocus City, Russian Emergencies Ministry, Hall, Russia’s, Authorities, Getty, ISIS, SITE Intelligence Group, Islamic, SITE, United, US National Security, RIA Novosti, RIA, Russian Security Service, Russian Foreign, ”, Ukrainian Foreign Ministry, Kremlin, Ukrainian Defense Intelligence, British, India’s, Saudi Arabia’s Crown, United Nations Security Council Locations: Russia, Crocus, Moscow, AFP, Islamic State, United States, ”, Ukraine, ” Ukraine

NEW YORK (AP) — Jared Kushner, Donald Trump’s former White House adviser and his son-in-law, defended on Tuesday his business dealings after leaving government with the Saudi crown prince who was implicated in the 2018 killing of Washington Post columnist Jamal Khashoggi. After Kushner left the White House, he started a private equity firm that received a reported $2 billion investment from the sovereign wealth fund controlled by Prince Mohammed, drawing scrutiny from Democrats. He dismissed the idea of there being any concerns about the appearance of a conflict of interest in his business deal. He also defended Prince Mohammed when asked if he believed U.S. intelligence reports that the prince approved the 2018 killing of Khashoggi, a Saudi dissident and Washington Post columnist. Kushner said he had not seen the intelligence report released in 2021 that concluded the crown prince likely approved Khashoggi’s killing inside the Saudi consulate in Istanbul.

Persons: — Jared Kushner, Donald Trump’s, Jamal Khashoggi, Kushner, Trump, Saudi Arabia’s Crown Prince Mohammed bin Salman, Prince Mohammed, ” Kushner, Khashoggi, “, ”, Joe Biden Organizations: House, Washington Post, Saudi Arabia’s Crown, White, Nintendo, Microsoft, Trump Locations: Saudi, Miami, America, Istanbul, Florida

☆ US and India’s strengthening bond is weak on trust
▼ + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.

Persons: Kevin Lamarque, soberly, ”, Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, “, Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York

CNN —Iranian President Ebrahim Raisi is in the Saudi capital Riyadh for a major summit on the Israel-Hamas war, where Arab leaders pressed for an end to the conflict. It marks the first trip by an Iranian leader to Saudi Arabia in 11 years after the two countries restored diplomatic relations in March. He shook hands with Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS), the heir to the Saudi throne and the country’s de facto ruler. A significant number of Arab leaders are attending the emergency gathering Saturday, titled the Joint Arab Islamic Extraordinary Summit. The summit is being hosted by Saudi Arabia in response to the “unprecedented circumstances in Gaza,” according to a statement released by the Saudi Ministry of Foreign Affairs.

Persons: Ebrahim Raisi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Raisi, ”, we’ve, “, Mahmoud Abbas, Hassan Nasrallah, Israel’s, Bashar al, Assad Organizations: CNN, Saudi Arabia’s Crown, Palestinian, –, Hamas, Arab, Saudi Ministry of Foreign Affairs, Arab League Locations: Saudi, Riyadh, Israel, Saudi Arabia, …, Al, Aqsa, ”, Gaza, United States, Washington, Palestine, Iran

☆ Blinken to Return to Israel After Six-Stop Arab Tour
▼ + stars: | 2023-10-15 | by ( ) www.wsj.com time to read: 1 min

U.S. Secretary of State Antony Blinken will return to Israel for meetings with Israeli government officials on Monday following a tour of six Arab nations, a State Department spokesman said. Blinken met Saudi Arabia’s Crown Prince Mohammed bin Salman early Sunday morning before flying to Cairo, where he is expected to sit down with Egyptian President Abdel Fattah Al Sisi to discuss Gaza border issues and ways to contain an expansion of violence in the region. Blinken is scheduled to arrive in Amman, Jordan, later Sunday.

Persons: Antony Blinken, Blinken, Saudi Arabia’s Crown Prince Mohammed bin Salman, Abdel Fattah Al Sisi Organizations: State Department, Saudi Arabia’s Crown Locations: Israel, Cairo, Gaza, Amman, Jordan

☆ Israel Gaza war: Growing humanitarian crisis in Gaza, Israel forms war cabinet and prepares hospitals as troops mass
▼ + stars: | 2023-10-12 | by ( Nada Bashir Kareem El Damanhoury Ali Younes Mohammed Tawfeeq Rhea Mogul | Nada Bashir | Kareem El Damanhoury | ) edition.cnn.com time to read: +10 min

Gaza’s only power station stopped working on Wednesday after running out of fuel, the head of the Gaza power authority Galal Ismail told CNN. So death was a blessing,” he told CNN, his voice broken, tears streaming down his tired, ashen face. Izzat al-Risheq, a senior Hamas official, told CNN on Wednesday that it’s too early to exchange Israeli hostages. “We are extremely worried that what is happening now is totally unprecedented,” Najla Shawa, an Oxfam worker in Gaza, told CNN. “I was sleeping, and then suddenly everything started falling on us,” one little girl waiting in a hospital with blood all over her face, told CNN.

Persons: Jerusalem CNN —, Israel, ’, Israel’s, Yahya Hassouna, Galal Ismail, Karama, “, we’re, Jonathan Conricus, Khan, Ibraheem Abu Mustafa, Benjamin Netanyahu, Benny Gantz, Gantz, Netanyahu, Yoav Gallant, ” Gantz, Abir, Mahmoud Abbas, Antony Blinken, Abbas, King Abdullah II of Jordan, Mohammed Bin Salman, Ebrahim Raisi, Tom Hand, Emily, wasn’t, ”, Izzat, it’s, Risheq, Baz Ratner, Fabrizio Carboni, ” Carboni, Najla Organizations: Jerusalem CNN, Palestinian, Getty, Palestinian Health Ministry, United Nations Office, of Humanitarian Affairs, CNN, Israel Defence Force, Reuters, National Unity Party, Alternate, Defence, Chagall State, Palestinian Authority, Palestine Liberation Organization, PLO, West Bank, Oslo Accords, Israel, Saudi Arabia’s Crown, Saudi Press Agency, Hamas, International IDF, Kibbutz, International Committee, Cross, ICRC, UN, Oxfam Locations: Gaza, Jerusalem, Israel, Gaza City, AFP, Al, Khan Younis, Chagall, Abir Sultan, Amman, Oslo, Doha, Qatar, Egypt, Kibbutz Be'eri, “

☆ Bust of slain commander forces cancellation of soccer match between Iranian and Saudi teams
▼ + stars: | 2023-10-03 | by ( Mostafa Salem | ) edition.cnn.com time to read: +4 min

The Quds Force is an elite unit that handles Iran’s overseas operations – and one designated as a terrorist organization by the US and Saudi Arabia. Riyadh severed ties with Tehran in 2016 after Iranian protesters stormed the Saudi embassy in the capital following the execution of a Shiite Muslim cleric in Saudi Arabia. The recent détente however brought hopes of long-lasting peace as Saudi Arabia redirects its resources toward economic development. Iranian and Saudi teams competed last month for the first time in seven years in Iran, where billboards in the streets welcomed the Saudi teams in English, Arabic and Farsi. Iranian soccer fans have also been seen wearing Saudi team jerseys after the kingdom’s clubs made high-profile purchases of international soccer stars.

Persons: Qasem Soleimani, Soleimani, Donald Trump, Ittihad, Tasnim, Morteza Salehi, Mohammad Reza Saket, –, Saudi Arabia’s Crown Prince Mohammed bin Salman, ” Organizations: UAE CNN —, Asian Champions League, Saudi, Sepahan FC, Jahan, Iranian Revolutionary Guards, Force, Quds Force, US, Al, Sepahan, Asian Football Confederation, AFC, Saudi Press Agency, AFP, Getty, CNN, Soccer, Saudi Arabia’s Crown, MBS Locations: Abu Dhabi, UAE, Saudi, Iran, United States, Al, Ittihad, Naghsh, Isfahan, Saudi Arabia, China, Tehran, Riyadh, AFP, Iranian

☆ Iran’s president defends uranium enrichment after Europeans ‘trampled on their commitments’
▼ + stars: | 2023-09-24 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

They (European states) trampled upon their commitments,” Raisi told CNN’s Fareed Zakaria in New York on the sidelines of the UN General Assembly this week. Nuclear power, which Iran says is the purpose of its nuclear program, requires uranium to be enriched to 3% to 5%. There is also concern that if Iran’s nuclear program is not kept in check, it could lead to further nuclear proliferation in the Middle East. The agreement capped Iranian uranium enrichment at 3.67% in exchange for sanctions relief. “Now, you see that the Iranians and the Americans have reached an understanding that has toned down Iran’s nuclear program, in which Europe played no role,” Vaez said.

Persons: Ebrahim Raisi, ” Raisi, CNN’s Fareed Zakaria, Saudi Arabia’s Crown Prince Mohammed bin Salman, Donald Trump, Ali Vaez, ” Vaez, Iran hasn’t, “, ” Organizations: CNN, “, UN, Assembly, International Atomic Energy Agency, IAEA, Reuters, Saudi Arabia’s Crown, European Union, US, Group, Tehran, ”, Iran’s, Agency, Crisis Locations: New York, Islamic Republic of Iran, Iran, Natanz, Tehran, Israel, East, United States, Washington, …, “, Islamic Republic, ” Tehran, France, Germany, United Kingdom, Europe, Qatar

☆ Netanyahu says Israel is edging 'closer' to normalization deal with Saudi Arabia
▼ + stars: | 2023-09-22 | by ( Sana Noor Haq | ) edition.cnn.com time to read: +3 min

CNN —Israeli Prime Minister Benjamin Netanyahu said it is “likely” Israel will reach a normalization agreement with Saudi Arabia, in what would mark a seismic foreign policy shift for both countries as they edge closer to reaching a deal mediated by the US. Speaking to CNN’s Kaitlan Collins in an interview on Friday, Netanyahu touted the potential pact as “a quantum leap” in the region. Saudi Arabia, like many Arab states, does not currently recognize Israel; such a deal would have potential to enhance Israel’s acceptance in the Muslim world, particularly considering Saudi Arabia’s role as the custodian of Islam’s holiest sites. Netanyahu has made tightening relations with Saudi Arabia a linchpin of his premiership, although it is unclear what kind of concessions toward Palestinians would be allowed by his right-wing coalition. Israel says the raids are intended to prevent or punish Palestinian militant attacks on Israeli civilians because the Palestinian Authority is failing in its security obligations.

Persons: Kaitlan Collins, Benjamin Netanyahu, CNN’s Kaitlan Collins, Netanyahu, ”, Israel, Saudi Arabia’s Crown Prince Mohammed bin Salman, bin Salman, Joe Biden, Kevin Lamarque, Collins, “, Mahmoud Abbas, ” Abbas Organizations: CNN, Israeli, United, United Arab Emirates, Saudi, Saudi Arabia’s Crown, Fox News, Assembly, Reuters, UN, Palestinian, West Bank, Israel, Palestinian Authority Locations: Israel, Saudi Arabia, Asia, Jordan, United Arab, Riyadh, New York City, New York

☆ Saudi crown prince says normalization with Israel gets 'closer' every day
▼ + stars: | 2023-09-21 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

Abu Dhabi, UAE CNN —Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) said that his country was moving “closer” each day toward reaching a normalization deal with Israel, the first time he has publicly acknowledged the process. We’re gonna see how it goes.”The Biden administration has for several months been in talks with Saudi Arabia on the matter, according to US officials. Saudi Arabia has been strengthening its ties with China as Washington’s rivalry with the Asian nation heats up. “We are the biggest buyer of American armored manufacturing,” he said, adding that Saudi Arabia is “critical” to US arms exports. Saudi Arabia is in the process of changing laws to make them “more realistic” for Saudis, he said.

Persons: UAE CNN — Saudi Arabia’s Crown Prince Mohammed bin Salman, ”, Biden, don’t, Benjamin Netanyahu, Netanyahu, Joe Biden, Fox News ’ Brett Baier, ” BRICS, BRICS, Jamal Khashoggi, Khashoggi Organizations: UAE CNN — Saudi Arabia’s Crown, Fox News, Saudi, MBS, ”, West Bank, Wednesday, CNN, Fox, White, America, CIA Locations: Abu Dhabi, UAE, Israel, Saudi, Saudi Arabia, Riyadh, ”, Iran, Tehran, China, Beijing, Gulf, America, Arabia, West, Russia, Istanbul

NEW DELHI (AP) — India and Saudi Arabia agreed Monday to expand trade and security ties, two days after their leaders and others attending a Group of 20 summit announced a new railways and port corridor deal that will link India, Middle East and Europe. The two leaders discussed issues ranging from energy security, trade and investment to defense, health care and food security, India’s foreign ministry spokesperson Arindam Bagchi said. The India-Saudi Arabia Strategic Partnership Council, established in 2019, serves as a platform between the two countries to increase ties. During last week's G20 summit, India, Saudi Arabia, the United States, the European Union and other countries announced an ambitious rail and shipping corridor that will link India with the Middle East and Europe in a bid to strengthen economic growth and political cooperation. India views Saudi Arabia as one of its most important strategic partners in the Middle East.

Persons: Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Arindam Bagchi, Modi, ”, Prince Mohammed Organizations: DELHI, —, Indian, Saudi Arabia’s Crown, Partnership Council, Partnership, European Union, East . Trade Locations: — India, Saudi Arabia, India, Middle East, Europe, New Delhi, United States, East, Asia, West Asia

Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Saudi Aramco did not immediately respond to a Reuters' request for comment. The company completed the world’s largest initial public offering in late 2019, raising $25.6 billion and later selling more shares to raise the total to $29.4 billion. Saudi Arabia had planned in addition to sell Aramco shares worth up to $50 billion last year, but decided market conditions were unfavourable, the Journal said. It reported a 38% decline in second quarter profit to 112.81 billion riyals from the year earlier period.

Persons: Dado Ruvic, Saudi Arabia’s Crown Prince Mohammed bin Salman, Prince Mohammed, Urvi, Louise Heavens, Barbara Lewis Organizations: Saudi Aramco, REUTERS, Wall Street, Aramco, Saudi, Saudi Arabia’s Crown, Public Investment Fund, Investment Initiative, Thomson Locations: Saudi, Riyadh bourse, Riyadh, Saudi Arabia, Bengaluru

☆ LIV Golf’s al-Rumayyan and the PGA Tour’s Monahan Make Strange Bedfellows
▼ + stars: | 2023-06-12 | by ( John Branch | ) www.nytimes.com time to read: +1 min

After more than a year of high-stakes jockeying and long-distance accusations, Jay Monahan and Yasir al-Rumayyan finally met in May, an arranged blind date in some Venice cafe or hotel. The 53-year-olds in charge could not be more different: Monahan, the American commissioner of the PGA Tour since 2017, and al-Rumayyan, the trusted confidant of Saudi Arabia’s Crown Prince Mohammed bin Salman and overseer of his country’s massive Public Investment Fund. It is that fund, claiming to be worth somewhere close to $700 billion, that bought its way into golf last Tuesday. It ended a sniping, court-complicated fight between the PGA’s American and European tours and the Saudi-backed LIV Golf tour. It instantly solved the PGA Tour’s financial struggles.

Persons: Jay Monahan, Yasir al, Rumayyan, bedfellows, Monahan, Saudi Arabia’s Crown Prince Mohammed bin Salman, LIV Organizations: PGA, Saudi Arabia’s Crown, Public Investment Fund Locations: Venice, Saudi

☆ Saudi Crown Prince Test Drives Nonaligned Foreign Policy
▼ + stars: | 2023-03-14 | by ( Stephen Kalin | Summer Said | ) www.wsj.com time to read: 1 min

Saudi Arabia’s Crown Prince Mohammed bin Salman whose decision making has been criticized in the past as erratic. RIYADH, Saudi Arabia—Flush with cash from an oil boom, Saudi Crown Prince Mohammed bin Salman is making foreign-policy and business moves that test whether it is possible not to take sides in the rivalries between the U.S. and Russia and China. Last week’s China-brokered agreement to renew diplomatic relations with Saudi Arabia’s rival Iran demonstrated a shrewd pragmatism from the 37-year-old de facto ruler, whose decision making has been criticized in the past as erratic. The deal would cool tensions across the Persian Gulf and bring Saudi Arabia closer to its biggest trading partner, China, without alienating its top security partner in Washington, where officials said they saw the detente as positive.

As the Covid-19 pandemic sent global markets swooning in early 2020, Saudi Arabia’s Crown Prince Mohammed bin Salman, sensing opportunity, pressed the country’s sovereign-wealth fund to go on an international stock-buying spree. The board of the Public Investment Fund, or PIF, resisted the move as too risky, but soon found itself overruled by an even higher authority, Prince Mohammed’s father, King Salman, according to an October podcast by the PIF governor, Yasir al-Rumayyan.

☆ China’s Xi gets a warm welcome from MBS in Riyadh
▼ + stars: | 2022-12-08 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +2 min

Saudi state TV showed a grand ceremony laid out for the Chinese leader, as bin Salman, the kingdom’s de facto ruler known as MBS, received him at Al-Yamamah Palace. Chinese and Saudi Arabian flags dotted the premises as members of the Saudi Royal Guard lined up with swords and played music. The two leaders smiled warmly and looked on for photographs, a contrast to the atmosphere of US President Joe Biden’s visit to Saudi Arabia earlier in the year. Xi landed in the capital Riyadh on Wednesday, where he was received by Saudi Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, and Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs. Saudi Crown Prince Mohammed bin Salman fist bumps US President Joe Biden upon his arrival at Al Salman Palace, in Jeddah in July.

In trying to keep inventories low through the cycle, OPEC+ risks worsening any global recession, and overtightening the market during the next upturn. Chartbook: Global petroleum inventoriesSEVERELY DEPLETED INVENTORIESThe extreme backwardation in Brent futures prices is a symptom global petroleum inventories have become uncomfortably low. BALANCING RISKS AMID UNCERTAINTYWhen spare capacity and inventories are both low, the volatility-reducing course is to put whatever spare capacity there is into production immediately to accumulate inventories pre-emptively. But the timing, duration and depth of the next downturn remains uncertain as does any reduction in oil consumption, either in absolute terms or relative to trend. Related columns:- OPEC+ cut draws hedge funds back into the oil market (Reuters, Oct. 10)- Oil investors ready for recession (Reuters, Oct 3)- Recession will be necessary to rebalance the oil market (Reuters, Sept. 22)- Oil prices and financial markets brace for recession (Reuters, Sept. 15)- John Kemp is a Reuters market analyst.

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