Arab State Doubles Down On Russian Oil: 'Volume Is Needed Today'
Good day from REEDNEWSARABWORLD for Tuesday, March 29, 2022!
The United Arab Emirates' energy minister doubled down on the oil alliance with Russia, saying OPEC+ isn't political and that no other source can substitute for Russia's 10 million barrels of oil each day. The oil-producing countries aren't "superheroes" and OPEC+, the minister said, isn't political, indicating the alliance won't move against Russia because of the Ukraine invasion.
OPEC+ members meet this week to discuss oil production levels, and only a small increase in the continuing limited program is expected. Kurdistan, the minority region of northern Iraq, can produce enough gas to help supply Europe and Turkey, its president says, but then comes the news that Iran's attack on a house in Erbil was because plans for a gas pipeline were being made there.
The French foreign minister expects a nuclear deal with Iran to be completed soon, but the U.S. envoy to Iran is skeptical. The Arab League's secretary-general says even if the talks succeed, Iran will only be prevented from building a nuclear weapon for a few years, and "the Arab world needs more assurances."
German prosecutors say Lebanon’s central bank governor is an embezzlement suspect in a case of $132 million in seized money . The speaker of Tunisia's suspended parliament says he will call two full meetings this week, and his opponent, the Tunisian president, says the parliament can meet in a spaceship but any actions will be null and void.
And news from Saudi Arabia, Kuwait (fire at the airport), Jordan (the king visits the West Bank), Morocco, Algeria, and More.
The United Arab Emirates isn't about to strike out on its own and increase oil production unilaterally. Energy Minister Suhail al-Mazrouei defended the OPEC+ scheme of limited monthly increases in oil output and declared the need for OPEC+ unity -- "Staying together, staying focused, and not allowing politics to kick in to this organization." The minister defended the alliance with Russia in the face of the Russian invasion of Ukraine, saying Russia is an important member of OPEC+ and "leaving the politics aside, that volume is needed today," referring to Russia's production of 10 million barrels a day of oil. "We don't see that anyone can substitute Russia. Always, Russia is going to be a part of that group and we need to respect them."
Associated Press, UAE energy chief doubles down on OPEC alliance with Russia.
CNBC, Russia will 'always' be a part of OPEC+, UAE energy minister says.
The United Arab Emirates urged Western countries to be "reasonable" in their expectations of oil production. UAE Energy Minister Suhail al-Mazrouei said ramping up oil production to bring down prices was "difficult," and that oil-producing countries face a "natural reduction" because of shrinking long-term investments. He said "if Europe needs gas and needs gas quickly, they need to sit with the producers. they need to identify the requirements, and they need to be reasonable and realistic."
AFP, UAE To West: Be reasonable on oil expectations.
Oil-producing countries are seen as "superheroes" but that's not how it works. The UAE oil minister said the producers were outcasts at a climate conference but now are being treated as heroes because oil supply is in strong demand. "Now we are again superheroes, but it's not going to work like that."
Reuters, Oil producers as 'superheroes' is not how it works, UAE minister says.
OPEC+ is expected this week to approve only a slight increase in oil production over its current plan, and that's not because of appeals by oil-consuming nations. The alliance has been adding 400,000 barrels a day each month since August. Starting in May, that monthly target increase will be 432,000 barrels per day. The slight increase comes from recalculations of production levels, with Saudi Arabia, Russia, Iraq, and the United Arab Emirates getting higher baselines.
Reuters, OPEC+ set for only slight output target increase despite Ukraine - sources.
Iraqi Kurdistan has enough energy capacity to help Europe. Kurdish Prime Minister Masrour Barzani said the region of northern Iraq can make up for at least some of the energy shortfall in Europe. "I am confident that Kurdistan will soon become an important source of energy for the world's growing demand. We will become a net exporter of gas to the rest of Iraq, to Turkey and Europe in the near future."
Reuters, Iraqi Kurdistan has energy capacity to help Europe, says Iraqi Kurdish PM.
That unusual Iran missile attack on a villa in Iraq is now seen as triggered by Iraqi Kurdistan plans to supply gas to Turkey and Europe. When the March 13 attack on Erbil occurred, hitting near the U.S. consulate, it destroyed a large structure owned by a businessman without any connection to Israeli operations, which Iran said were the target. Now Turkish and Iraqi officials say Iran was angered by a nascent plan for Iraq's Kurdistan region to supply gas to Turkey through a new pipeline.
Reuters, Iran struck Iraq target over gas talks involving Israel - officials.
Saudi Arabia is hosting factions from the war in Yemen — except the Houthis — in an effort to stop the war and plan a future for Yemen. Representatives of the six-state Gulf Cooperation Council met behind closed doors with Yemeni groups in a separate action from the United Nations’ truce effort. The rebel Houthi militia in Yemen rejected the GCC meeting.
Reuters, Saudi Arabia hosts Yemen talks, focus on truce with absent Houthis.
Associated Press, Gulf states plan Yemen talks without Houthi rebels present.
France's foreign minister said negotiations on a nuclear deal with Iran are "near an agreement," but a U.S. envoy says he "can't be confident." France's Jean-Yves Le Drian said a few items still need to be settled, but "We are near an agreement." Le Drian spoke at a news conference in Doha, Qatar.
Reuters, French foreign minister Le Drian: Confident Iran nuclear deal is near.
U.S. special envoy to Iran Robert Malley appeared skeptical about prospects for an early nuclear deal with Iran. "I can't be confident it's imminent," Malley said. "It's not just around the corner and it's not inevitable." The remarks were in contrast to Sayyid Kamal Kharrazi, foreign policy adviser to Iran's supreme leader, who said a new nuclear deal is "imminent."
Kharrazi said, however, the question of the United States labeling Iran's Islamic Revolutionary Guard Corps remains a concern.
Fox News, US envoy to Iran says he 'can't be confident' a new nuclear deal is 'imminent.'
The Arab League's chief said a new Iran deal won't end the nuclear threat. An agreement in Vienna won't end the threat from Iran, "but only freezes it for several years," the secretary-general of the League of Arab States, Aboul Gheit, said. "The Arab world needs more assurances from two sides, from Iran and from Israel, that the threat of nuclear weapons and nuclear armament must be abandoned." He stressed that the Middle East has been demanding a nuclear-free zone for 40 years.
The National, Aboul Gheit says a new Iran deal 'does not end' the nuclear threat.
U.S. Secretary of State Antony Blinken is traveling to Morocco and Algeria this week after a meeting with Israeli, Arab, and Palestinian leaders. He was scheduled to meet with Morocco's foreign minister, Nasser Bourita and other senior government officials, and also meet in Rabat with the UAE crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed al-Nahyan, who is visiting Morocco. From Rabat, Blinken goes to Algeria for meetings with President Abdelmadjid Tebboune and foreign minister Ramtane Lamamra.
UPI, Blinken travels to Morocco to talk security after meet with Israeli, Palestinian leaders.
Qatar and Saudi Arabia say the West swiftly mobilizes support for Ukraine but won’t relieve suffering in the Middle East. The crowd at the Doha Forum erupted in applause when Qatar Foreign Minister Mohammed bin Abdulrahman al-Thani said helping Ukrainians should establish a precedent to show the world is "witnessing the brutality" against Syrians, Palestinians, Libyans, Iraqis, and Afghans. He said he hopes this is a "wake-up call for everyone in the international community to look at our region." Saudi Foreign Minister Faisal bin Farhan al-Saud made similar remarks.
Washington Post, Qatar, Saudi Arabia say the West mobilizes support for Ukraine but falls short in the Middle East.
US lawmakers are criticizing Israel's lack of action to help Ukraine. Israel's prime minister has yet to condemn Russia for its invasion of Ukraine, instead walking a line between the U.S. and other Western nations and Russia. A bipartisan group in the U.S. Congress expressed disappointment that Israel, the largest recipient of U.S. foreign aid, hasn't sent weapons to Ukraine or joined in sanctions. "They ought to be stepping up like the rest of the world," Senator Angus King of Maine, an independent, said. "I don't understand it."
CNN, Lawmakers are starting to grumble about Israel's lack of action in Ukraine.
Construction of Egypt's first nuclear power plant could be disrupted by Russia's war in Ukraine. Rosatom, Russia's state atomic energy corporation, was supposed to start work on the project this summer, but sanctions on Russian businesses threaten to delay the beginning. One Egyptian politician said he expects work on the project to be suspended and not resume until after the Ukraine war, and then possibly with a country other than Russia. The nuclear plant had been postponed for two years because of the Covid-19 pandemic.
All-Monitor, Ukraine war could delay Egypt's first nuclear plant.
The United States granted Iraq another 120-day waiver from sanctions so it can pay for electricity imports from Iran. A State Department official called the electricity needs "short-term" while Iraq takes steps to reduce its dependence on imports. Washington has routinely provided sanction waivers to Iraq, and so far Iraq hasn't been able to do without the Iranian energy imports.
Al Arabiya, US grants Iraq another sanctions waiver to import electricity from Iran.
Jordan's King Abdullah II met in Ramallah with Palestinian Authority head Mahmoud Abbas in the king's first travel to the West Bank in five years. The visit lasted two hours, and Abdullah called on Israel to stop taking unilateral measures against a regional settlement and creation of a Palestinian state. He emphasized the need to maintain the status quo on holy sites in order to prevent violence. Jordan has been custodian of Jerusalem's Muslim holy sites since the 1920s.
MIddle East Eye, Jordan's King Abdullah meets Palestinian president after skipping Israel summit.
Prosecutors in Germany said Lebanon's central bank governor Riad Salameh is a suspect in a case involving $132 million of seized Lebanese assets. Eurojust, the European Union criminal justice agency based in The Hague, issued a statement saying the funds were seized from properties and bank accounts linked to five people suspected of embezzling. Prosecutors in Munich said the statement referred to Salameh, whose wealth is being investigated in at least five European states.
Middle East Eye, Lebanon: Central bank chief Salameh 'suspect' in 120m euro asset seizure across EU.
Lebanon's top prosecutor overturned a judicial decision, and now banks are allowed to move money out of the country. Judge Ghada Aoun had instructed customs authorities to prevent six banks from moving money, but Lebanon's banking association said the banks would be cut off from their correspondents abroad and that trade would suffer. Public prosecutor Ghassan Oueidat reversed Judge Aoun's decision.
Asharq Al-Awsat, Lebanesee prosecutor overturns decision barring banks from shipping money.
The United Arab Emirates is looking for 5% to 6% economic growth this year and hopes the same pace will double the economy by 2031. "The whole world is recovering, and I think we are in a recovery phase after the pandemic," UAE economy minister Abdulla Bin Touq Al-Marri said. He added that predicting growth is a challenge, but "that's the hope, we are very ambitious, very positive."
Asharq Al-Awsat, UAE hopeful of 5%-6% growth in 2022 and beyond.
Tunisia's suspended parliament will hold two full sessions this week. Speaker Rached Ghannouchi said the meetings will consider revoking moves by President Kais Saied toward a new constitution and one-man rule. Ghannouchi has been one of Saied's most vocal critics, following Saied's suspension of parliament last year. Saied said of reports that the parliament would convene: "Whoever wants to go back is delusional. Let them meet in a spaceship.""
Reuters, Tunisian parliament speaker defies president with planned sessions.
Tunisian President Kais Saied said the activities of parliament are suspended and that any decisions will be null and void. "Anyone who dreams of turning back the clock is delusional and his pipedreams will never come true."
AllAfrica, Tunisia: 'Parliament's activities are suspended,' insists President Kais Saied.
MORE: Israel offers support to Morocco over Western Sahara after summit, Reuters... ISIS attack kills two and injures six in Israel as Arab and Israeli officials hold historic summit, CNN... Fire at Kuwait's new international airport project extinguished, Reuters... Top diplomats meet in Egypt to improve ties with energy-rich Qatar, Associated Press... UAE aims to go green while continuing to produce oil, Times of Israel... East African leaders meet in Jordan to discuss efforts to counter terrorism, The National... Bangladeshi journo, engineer who went missing in Libya now in safe custody, Daily Star.
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The summit meeting of Arab states in Egypt's Negev desert was about more than confronting Iran. "This is the first time that Arab countries are meeting in Israel," a former U.S. diplomat said, and he believes the meeting was all about demonstrating a new regional coalition that includes Israel. For Israel, the meeting was an opportunity to show that not only does it oppose a nuclear agreement with Iran, but so do Arab states -- "there are Arabs who oppose it as well."
Al-Monitor, Goals of Israel-Arab summit go beyond Iran.
A regional security architecture, even a "mini-NATO," may come out of Israel's desert meeting with Arab leaders. Behind closed doors, Bahrain's foreign minister, Abdullatif Al-Zayani, talked about building such a force as the countries face similar security challenges.
Jerusalem Post, A 'mini-NATO' for the Middle East won't be stopped by terror - analysis.