On The Arabian Peninsula

So much is happening these days while the pandemic has our attention diverted to national stuff….the peninsula in the Middle East is heating up…..

Let’s begin with the UAE……they recently co-signed a demand against Qatar and they demanded that Qatar end all ties with terrorist organizations….

Numbers 3 and 4 are of interest…….

3) Sever ties to all “terrorist, sectarian and ideological organisations,” specifically the Muslim Brotherhood, ISIL, al-Qaeda, Fateh al-Sham (formerly known as the Nusra Front) and Lebanon’s Hezbollah. Formally declare these entities as terror groups as per the list announced by Saudi Arabia, Bahrain, UAE and Egypt, and concur with all future updates of this list.

4) Stop all means of funding for individuals, groups or organisations that have been designated as terrorists by Saudi Arabia, UAE, Egypt, Bahrain, US and other countries.

I bring up this because of the news I read…..after their demand for Qatar…..

The United Arab Emirates will be placed under a year-long observation by a global finance watchdog for failing to stem money laundering and terrorist financing. Abu Dhabi, says the Paris-based Financial Action Task Force (FATF), is not doing enough and has been urged to take extra measures to avoid being included on an international watchlist.

“Generally, fundamental and major improvements are needed across the UAE in order to demonstrate that the system cannot be used for money laundering and terrorist financing,” said FATF in a report compiled after a 14-month investigation.

UAE failing to stem money laundering and terrorist financing, says watchdog 

Again Saudi Arabia forcing their neighbors to fall in-line with their desires……

Speaking of KSA…..mismanagement is driving the Kingdom to the point of bankruptcy….even with all the oil they are blowing it big time……and it all comes down to oil prices…..

On 6 March, the OPEC+ cartel failed to agree on a cut in oil production in the light of reduced demand due to the coronavirus pandemic affecting almost every country in the world. All of this came in the middle of a global financial crisis. Saudi Arabia proposed the cut, and OPEC members accepted it, but Russia, which is OPEC’s “+”, spearheaded the call to reject it.

“We have made this decision because no consensus has been found of how all the 24 countries should simultaneously react to the current situation,” Russian Energy Minister Alexander Novak told reporters after the OPEC+ meeting in Vienna. “So as from April 1, we are starting to work without minding the quotas or reductions which were in place earlier, but this does not mean that each country would not monitor and analyse market developments.” Hours later, oil prices plummeted.

Mismanagement is driving Saudi Arabia towards bankruptcy

Speaking on oil prices……

Trump has told KSA that they need to cut their oil supply or lose  US funds….

In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.

The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic – scoring a diplomatic victory for the White House.

https://www.msn.com/en-us/news/world/special-report-trump-told-saudis-cut-oil-supply-or-lose-us-military-support-sources/ar-BB13pCYe

What about this pandemic?

The world is on the cusp of a geopolitical reset. The global pandemic could well undermine international institutions, reinforce nationalism and spur de-globalization. But far-sighted leadership could also rekindle cooperation, glimmers of which appeared in the G-20’s offer of debt relief for some of the world’s poorest countries, a joint plea from more than 200 former national leaders for a more coordinated pandemic response and an unprecedented multinational pact to arrest the crash in oil markets.

The remarkable effort to address the turmoil in the oil markets will be critical to oil’s eventual balance — although the past two weeks have shown that its promised production cuts were too slow and insufficient in the face of oil demand’s plunge. The challenges and opportunities that the collapse in the oil market is pushing to the fore are perhaps just the first taste of Covid-19 induced geopolitical crises that world leaders and policy makers will need to grapple with in the coming months and years.

https://www.bloomberg.com/opinion/articles/2020-04-29/covid-19-oil-collapse-is-geopolitical-reset-in-disguise

So much is happening on the Peninsula…..and so much is being overlooked by the MSM…..

I Read, I Write, You Know

“lego ergo scribo”

6 thoughts on “On The Arabian Peninsula

  1. One good thing about the pandemic is the impact on oil prices, and the loss of power for those oil-producing nations. But all they have to do is sit it out until we all start driving and flying again, then watch the oil prices soar back up.
    Best wishes, Pete.

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