Saudi Arabia, UAE Pledge $3 Billion to Yemen As President Is Removed, Peace Is Sought
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Saudi Arabia and the United Arab Emirates are ready to throw billions into a recovery for Yemen after removing the country's president. The ouster of Mansour Hadi, whose government was "weak, incompetent, and lacking in legitimacy," was just that, a removal, although Hadi announced that he was transferring power. The decision has been long in the making, and Saudi Arabia acted at the end of a consultation among Gulf states that was designed to rescue Yemen. There are questions about Hadi's replacement government, an eight-member presidential leadership council, because it includes people who have diametrically opposed views.
Saudi Arabia and Kuwait are returning their ambassadors to Lebanon after Prime Minister Najib Mikati promised to end all activities that Saudi Arabia and other Gulf states oppose. One activity is drug-smuggling, with Lebanon's Hezbollah a suspected culprit.
The International Monetary Fund reached a tentative agreement with Lebanon on a $3 billion bailout -- if Lebanon reforms its economy and government. Some warn not to expect the signing of an agreement anytime soon because there is "no will within the government." U.S. General Mark Milley opposes removing Iran's Quds Force from a terror list, Morocco welcomes Spain's support on Western Sahara, and almost all Gulf and Middle East countries choose to abstain in a United Nations vote tossing Russia off the Human Rights Council.
And news from Saudi Arabia, Kuwait, the United Arab Emirates, Jordan, Iraq and More.
Saudi Arabia and the United Arab Emirates will provide $3 billion to Yemen in an effort to restart peace talks. The money pledge came after a shakeup in Yemen's government, with President Abd Rabbuh Mansur Hadi firing his deputy, then quitting and transferring power to a new eight-person presidential leadership council. Saudi Arabia and the UAE will each provide $1 billion to Yemen's central bank, and Saudi Arabia will pay another $1 billion for oil products and development projects.
Bloomberg, Saudi Arabia, UAE to give $3 billion to Yemen in new peace push.
Analysts called the announcement of a new leadership council in Yemen a "big deal" but question how it will actually work. "The problem is that it is unclear how these various individuals, many of whom have diametrically opposing views, can work together," Gregory Johnsen, a former member of the United Nations expert panel on Yemen, said.
CNN, Hope of peace in Yemen as president hands power to new presidential council.
An overwhelming welcome throughout the Gulf states and the Middle East met the news that Yemen's leadership had changed and a new push started to end the war.
With a $3 billion aid package designed to help restore stability to the country, Yemen's new leadership council was welcomed by the governments of Egypt, Kuwait, Bahrain, Jordan, Djibouti, France, and Russia, and by the leaders of the Gulf Cooperation Council, the Arab League, the Arab Parliament, and the Organization for Islamic Cooperation.
Outgoing Yemeni President Mansur Hadi made clear he was quitting: "I irreversibly delegate to the presidential leadership council my full powers in accordance with the constitution and the Gulf Initiative and its executive mechanism."
Arab News, Saudi Arabia pledges billions in aid to Yemen as crown prince backs new leadership council.
Al Arabiya, GCC ministers support Yemeni presidential council's call to negotiate with Houthis.
The United States welcomed the announcement from Yemen's exiled president that he was ceding powers. The announcement came at a pivotal moment in Yemen's grueling civil war, and U.S. Secretary of State Antony Blinken said: "We urge the presidential leadership council to abide by the UN-negotiated truce and cooperate with comprehensive UN efforts to end the conflict. Yemeni must have the opportunity to determine the future of their country."
Al-Monitor, US welcomes Yemen's leadership shakeup as president cedes power.
Mansur Hadi struggled but ultimately failed to impose his authority during a turbulent decade as president of Yemen. Hadi, 76, a career army officer, assumed office in 2012, but soon fled to Saudi Arabia, and his extended time outside the country reinforced the impression that he was controlled by the Saudis. By 2014, the Iran-backed Houthi militias had taken over large swathes of Yemen.
AFP, Yemen's Hadi: Ineffective president in extended exile.
Saudi Arabia and Kuwait announced a return of their ambassadors to Lebanon. The joint moves were a sign of improved ties with Lebanon, after relationships hit rock-bottom last year and the Saudis and other Gulf states withdrew their envoys. Saudi Arabia and other wealthy Gulf states had been major donors to Lebanon, but relations were strained for years by the influence of the Iran-dominated Hezbollah movement.
Saudi Arabia said its ambassador was returning to Beirut in response to a call by moderate Lebanese political forces and after remarks by Lebanese Prime Minister Najib Mikati on "ending all political, military and security activities" that affected Saudi Arabia and other Gulf states.
Reuters, Saudi, Kuwait return envoys to Lebanon in sign of easing tensions.
Reuters, Kuwaiti ambassador to return to Beirut before end of the week - Lebanese prime minister statement.
The International Monetary Fund (IMF) reached a draft funding agreement with Lebanon. Beirut, however, must enact economic reforms first, before the IMF board decides whether to approve the deal. IMF support is widely seen as vital for Lebanon to start recovering from an economic meltdown. The new draft agreement covers a 46-month extended fund facility, and Lebanon has asked for access to about $3 billion.
Reuters, IMF, Lebanon reach draft funding deal, subject to reforms.
Analysts say it could take months or years for the IMF money to be implemented in Lebanon. Sami Nadeer, director of the Levant Institute for Strategic Affairs, said he doesn't expect the IMF agreement to be signed anytime soon. "There is no will within the government to implement these reforms."
The National, Lebanon: PM says government will work on reforms to unlock IMF deal, analysts skeptical.
A confrontation in Lebanon between banks and the judiciary may be threatening the holding of elections in May. President Michel Aoun and his Free Patriotic Movement are being accused by opponents of being behind a judicial campaign against Lebanese banks. One political source said: "The ongoing crisis between the judiciary and the banking sector has put the government at bay."
Al Arabiya, Judiciary's clash with banks threatens Lebanon's elections.
The six Gulf Arab states abstained in a United Nations vote that suspended Russia from the UN's Human Rights Council. So did Egypt, Iraq, Jordan, Sudan, Tunisia, and Yemen. According to a UN tally, Israel, Libya and Turkey were the only three Middle East countries to vote for the resolution against Russia. Iran, Algeria, and Syria voted against the suspension, and Lebanon, Morocco, and Mauritania did not vote. The United States pushed the resolution suspending Russia, with 93 countries supporting, 24 countries voting no, and 58 abstaining.
Middle East Eye, Gulf states abstain as UN suspends Russia from rights council over Ukraine abuses.
The United Arab Emirates' economy grew by 3.8% in 2021, the highest in the region. The World Bank had expected growth of 2.1%. "In a turbulent, changing world, the UAE has not stopped moving steadily forward," Sheikh Mohammed bin Rashid Al-Maktoum, UAE prime minister and ruler of Dubai, said.
Khaleej Times, UAE achieves 3.8% growth in 2021, highest in the region: Sheikh Mohammed.
The Pentagon's top general opposes removing Iran's Quds Force from the United States terror list. The change is one of Iran's demands in the ongoing nuclear talks in Vienna, but General Mark Milley, chairman of the Joint Chiefs of Staff, said: "In my personal opinion, I believe the IRGC Quds Force to be a terrorist organization, and I do not support them being delisted from the foreign terrorist organization list." Iran has pressed for the removal from the list as a condition to returning to the 2015 nuclear agreement.
AFP, Top US General opposes 'terror' delisting for Iran Guards elite force.
Iran news sources said three Americans held in Iran will be released under a deal for unblocking millions of dollars in funds, but the U.S. State Department denied the reports.
"Reports that Iranian funds held in restricted accounts in third countries will be transferred are false," a statement said.
Al-Monitor, Iran hardline press says Tehran will release US prisoners for unfrozen assets.
Four U.S. troops were injured in a rocket attack on a base in eastern Syria. Operation Inherent Resolve said the troops received minor injuries and were being evaluated for traumatic brain injury. Earlier, the Green Village base was attacked in January when eight rockets landed inside the base perimeter.
Air Force Times, Four US troops injured in rocket attack on base in Syria.
Iraq has started work to connect its electricity grid with Jordan. Iraqi officials said they had started checking the path, connecting points, and making soil examinations. An electrical power transformation station, Al Qaim, is under construction and will complete the connection with Jordan.
Jordan Times, Iraq begins measures to connect its power grid with Jordan.
Iraq is able to export more than 3.3 million barrels of oil a day from its southern ports. Exports reached 3.244 million bpd in March, and oil minister Ihsan Abdul Jabbar indicated he expects shipments and oil prices to continue rising in 2022.
Reuters, Iraq can export more than 3.3 mln bpd from its southern ports, oil minister says.
Oman has a budget surplus of $545 million as oil revenues grow. At the end of February, the surplus showed a massive improvement over the same period a year ago when a deficit of 457 million Omani riyals was registered. The new figure of $545 million is 210 million Omani riyals.
Arab News, Oman's budget surplus hits $545m on the back of strong oil revenues.
Morocco and Spain have ended a diplomatic dispute after support for Morocco's sovereignty over Western Sahara. Morocco's King Mohammed VI and Spain's prime minister Pedro Sanchez "reiterated their willingness to usher a new phase," a statement from Morocco's royal palace said after a meeting in Rabat. Spain last month shifted its policy in favor of Morocco's claim to Western Sahara, a former Spanish colony.
Reuters, Morocco, Spain patch up diplomatic feud after Spanish shift on Western Sahara.
The jailed head of Sudan's former ruling party will be freed. Ibrahim Ghandour, who was foreign minister in the government of Omar al-Bashir, was expected to be released after being cleared of charges that included plotting the assassination of former prime minister Abdalla Hamdok.
Reuters, Jailed head of Sudan's outlawed ex-ruling party to be free- lawyer.
MORE: Egypt's foreign reserves fall as war pressures nation's finances, Bloomberg... Egypt introduces tourism incentives to ease losses from Russia-Ukraine crisis, CanIndia... Jordan's King Abdullah says Israelis and Palestinians paying price for violence, The National... Tunisia: President Saied to change structure of elections authority ahead of national vote, Middle East Eye... Bahrain invites private investors to develop government land, Trade Arabia.
News You Missed
The ousted Yemeni president, Mansour Hadi, had a government that was "weak, incompetent and lacking in legitimacy." There has been a general misconception that being anti-Houthi meant being pro-government in Yemen. "It did not."
AFP, What does Yemen's new leadership mean for the war-torn country?
Lebanon's financial system has suffered "eye-watering losses." The government estimated overall losses as of last September at $69 billion. The deputy prime minister said that amount will grow to $73 billion until the crisis is addressed.
Reuters, Factbox: Just how bad is Lebanon's economic meltdown?