NEW YORK: Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years.
Saudi Crown Prince Mohammed bin Salman said that Riyadh and Moscow were considering a deal to greatly extend a short-term alliance on oil curbs that began in January 2017 after a crash in crude prices.
“We are working to shift from a year-to-year agreement to a 10 to 20 year agreement,” the crown prince told Reuters in an interview in New York late on Monday.
“We have agreement on the big picture, but not yet on the detail.”
Russia, not a member of the Organization of the Petroleum Exporting Countries, has worked alongside the 14-member group during previous oil gluts, but a 10 to 20 year deal between the two would be unprecedented.
Top OPEC producer Saudi Arabia recruited Russia and other non-OPEC countries to help drain oversupply when oil prices collapsed to below $30 a barrel in 2016 from over $100 in 2014.
Crude has since recovered to $70 but fast-rising output from US shale producers has capped prices.
“This is all about whether the arrangement is a short-term expedient to deal with this particular crisis in the oil market, or whether it reflects a realignment in world oil,” said oil historian Daniel Yergin, vice chairman at consultancy IHS Markit.
“OPEC countries want to find a way to institutionalize this relationship rather than to have it be a one-shot deal.”
Robert McNally at consultancy Rapidan Energy Group said Riyadh wanted help in breaking the boom-bust cycles that characterize oil markets by capping crude on the upside as well as by helping lift low oil prices.
“History shows that without a long-term, powerful, competent coherent, disciplined swing producer in the oil markets ... you get space-mountain oil prices. Wild volatility of the sort we have seen in the past 10 to 15 years and that Saudi Arabia and Russia do not want to see again,” McNally said.
He said that would require Russia to join Saudi in building spare production capacity to use when prices rise too much.
SAUDI, RUSSIA ALLIANCE “THICKER THAN OIL“
A long-term pact between Moscow and Riyadh would effectively co-opt Russia to the Saudi-led OPEC cartel while strengthening Russia’s hand in the Middle East where the United States has long been the dominant super-power.
News of the potential oil alliance came at a time when the two have been working to cement an economic relationship despite being at odds over the conflict in Syria, where they back opposing sides.
A meeting between the Saudi crown prince and Russian president Vladimir Putin on the sidelines of a G20 meeting in China in September 2016 was instrumental in bringing Russia on board to support OPEC, non-OPEC oil curbs.
Last October, Saudi King Salman became the first Saudi monarch to visit Russia, providing investment and political support for a Russian economy battered by Western sanctions.
“It is a very important strategic development,” Helima Croft at RBC Capital Markets said of a potential 10 to 20 year Saudi-Russia oil collaboration.
“First, the Crown Prince is making the statement, not the oil minister, one more clear sign that he (like Putin) is the final word on his country’s oil policy.
“Second it is one more sign of the major reversal in Saudi-Russia relations. Saudi was a staunch cold war ally of the US Now this Russia-Saudi alliance appears to be thicker than oil and seems to be driven by the personal affinity between Putin and MBS,” said Croft.
ARAMCO IPO LATE 2018, EARLY 2019
The crown prince predicted that world oil demand would not peak until 2040, despite advances in renewable energy technologies and the electric vehicle.
In an attempt to end Saudi Arabia’s reliance on oil, he is leading a push to diversify the Saudi economy away from oil and gas by 2030.
Riyadh plans to raise funds through the flotation of a 5 percent stake in state Saudi oil company Aramco. Time is running out for an initial public offering this year but the crown prince said the IPO could still take place at the end of 2018 or in early 2019, depending on financial market conditions.
Saudi Oil Minister Khalid Al-Falih said last week that documentation was ready but that a venue for the IPO had not yet been decided. The New York stock exchange is still in the running for the IPO, alongside London and Hong Kong, but Falih said there was a risk of a “frivolous” legal action if Aramco were listed in the United States.
OPEC seeks oil alliance with Russia for next 10-20 years - Saudi crown prince
OPEC seeks oil alliance with Russia for next 10-20 years - Saudi crown prince
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UN envoy in rare Yemen visit to push for peace
- Grundberg’s office said his visit would also “support the release of the arbitrarily detained UN, NGO, civil society and diplomatic mission personnel”
SANAA: Hans Grundberg, the United Nation’s special envoy for war-torn Yemen, arrived Monday in the rebel-held capital in a bid to breathe life into peace talks, his office said.
Grundberg last visited the capital Sanaa, controlled by the Iran-backed Houthis, in May 2023 for meetings with the rebels’ leaders in an earlier effort to advance a roadmap for peace.
The envoy’s current visit “is part of his ongoing efforts to urge for concrete and essential actions... for advancing the peace process,” Grundberg’s office said in a statement.
Yemen has been at war since 2014, when the Houthis forced the internationally recognized government out of Sanaa. The rebels have also seized population centers in the north.
In March 2015, a Saudi-led coalition intervened to prop up the beleaguered government.
A UN-brokered ceasefire in April 2022 calmed fighting and in December 2023 the warring parties committed to a peace process.
But tensions have surged during the Israel-Hamas war in Gaza, as the Houthis struck Israeli targets and international shipping in the Red Sea and Gulf of Aden, in a campaign the rebels say is in solidarity with Palestinians.
In response to the Houthi attacks, Israel as well as the United States and Britain have hit Houthi targets in Yemen over the past year. One Israeli raid hit Sanaa’s international airport.
Grundberg’s office said his visit would also “support the release of the arbitrarily detained UN, NGO, civil society and diplomatic mission personnel.”
Dozens of staff from UN and other humanitarian organizations have been detained by the rebels, most of them since June, with the Houthis accusing them of belonging to a “US-Israeli spy network,” a charge the United Nations denies.
Leao, Pulisic and Abraham inspire AC Milan comeback in 3-2 win over Inter in Italian Super Cup final
Leao, Pulisic and Abraham inspire AC Milan comeback in 3-2 win over Inter in Italian Super Cup final
- It was the fifth time in the last seven years that the competition was played in Saudi Arabia
RIYADH: It took exactly one week on the job for Sergio Conceicao to earn his first trophy as AC Milan’s coach — with two comeback wins no less.
Milan came back from two goals down to beat city rivals Inter Milan 3-2 and win the Italian Super Cup on Monday.
Rafael Leao came off the bench and played a part in all three of Milan’s goals from Theo Hernandez, Christian Pulisic and Tammy Abraham.
Conceicao was hired to replace the fired Paulo Fonseca last Monday and also led the Rossoneri to a comeback win over Juventus in the semifinals.
This time, Lautaro Martinez and Mehdi Taremi put Inter ahead with goals on either side of halftime.
Leao then earned a foul that resulted in a free kick which Hernandez curled in around Inter’s wall.
Then Pulisic finished off a counterattack by shooting through Augusto’s legs on a play that began with Leao.
For the third goal, Leao provided a through ball for Pulisic, who crossed to Abraham, who tapped into an empty net in stoppage time.
It was the fifth time in the last seven years that the competition was played in Saudi Arabia, and the second year of an expanded four-team format.
A throw-in led to Inter’s opener as Taremi fed the ball inside the area to Lautaro, who cut back before shooting through Hernandez’s legs on Inter’s only real chance of the half.
Taremi, who was playing in place of the injured Marcus Thuram, finished off a counterattack right after the break.
Milan play their first Serie A match under Conceicao against Cagliari on Saturday. The Rossoneri are in eighth place but will return to league action with much more confidence.
US says anti-Daesh operation in Iraq kills coalition soldier
- US officials have said Daesh is hoping to stage a comeback in Syria following the fall in December of Syrian President Bashar Assad
WASHINGTON: The US military said on Monday operations against Daesh in Iraq over the past week led to the death of a non-US coalition soldier and wounded two other non-US personnel.
It also detailed operations in Syria against Daesh militants led by the US-backed Syrian Democratic Forces, including one that resulted in the capture of what the US military’s Central Command said was an Daesh attack cell leader.
US officials have said Daesh is hoping to stage a comeback in Syria following the fall in December of Syrian President Bashar Assad.
Saudi Interior Ministry confirms ban on transferring or publishing security surveillance camera recordings
- Anyone who violates the rule will be punished with a fine of SR20,000 ($5,327), interior ministry says
RIYADH: Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera recordings.
Security surveillance camera recordings can only be transferred or published with the approval of the ministry or the Presidency of State Security, based on a judicial order, or at the request of an investigating authority.
The ministry explained that anyone who violates this rule will be punished with a fine of SR20,000 ($5,327).
This includes anyone who transfers or publishes recordings in violation of the law or damages or vandalizes security surveillance camera systems or recordings.
How Israeli raids on northern Gaza hospitals compound the enclave’s healthcare emergency
- Kamal Adwan Hospital was raided by Israeli forces on Dec. 27, dealing a fresh blow to Gaza’s already devastated health system
- Israel alleged the facility was a “Hamas terrorist stronghold,” detaining its director Dr. Hussam Abu Safiya, patients, and other staff
DUBAI: For months, prominent Palestinian pediatrician Dr. Hussam Abu Safiya had been pleading with the international community to protect medical staff and patients at the Kamal Adwan Hospital amid repeated Israeli assaults.
As one of just two functioning hospitals in northern Gaza, Kamal Adwan served as a lifeline for thousands in need of medical assistance under an Israeli siege that has blocked the delivery of food, shelter materials, and medical supplies since Oct. 5.
However, the pleas of Dr. Abu Safiya, the hospital’s director, fell silent on Dec. 27 when Israeli forces stormed the facility and detained him along with patients and other medical staff, alleging it was a “Hamas terrorist stronghold.”
Since early October 2024, Israel has intensified its siege on northern Gaza, mounting a series of operations intended to root out Hamas fighters. The raid on Kamal Adwan knocked the hospital out of action, dealing a fresh blow to northern Gaza’s already devastated healthcare system.
The following day, health officials said Israeli forces targeted Al-Awda Hospital, severely damaging the last functioning facility in northern Gaza. The hospital had been overflowing with patients after the Indonesian Hospital was reportedly put out of service earlier in the month.
On Dec. 29, the Palestinian health ministry said Israeli strikes had left two facilities in Gaza City — Al-Ahli Arab Baptist Hospital and Al-Wafaa Hospital — with significant damage.
“Hospitals have once again become battlegrounds, reminiscent of the destruction of the health system in Gaza City earlier this year,” the World Health Organization said in a statement.
Israel has long accused Hamas of using civilian hospitals for military purposes, employing patients and medical staff as human shields — a claim that the Palestinian militant group that governs Gaza has consistently denied.
In its latest raid on Kamal Adwan Hospital, the Israeli military said its troops had killed 20 “terrorists” and detained 240 others, including Dr. Abu Safiya on suspicion of being “a Hamas terrorist operative.”
On Friday, Israel confirmed it was holding Dr. Abu Safiya, but did not specify where. In a statement, the Israel Defense Forces said he was “currently being investigated by Israeli security forces” as he was suspected of being a “terrorist” and for “holding a rank” in Hamas.
Israel launched its military operation in Gaza in retaliation for the Oct. 7, 2023, Hamas-led attack on southern Israel that killed some 1,200 people, most of them civilians, and saw around 250 taken hostage, including many foreign nationals.
The air and ground campaign in Gaza has caused the death of some 45,400 Palestinians, more than half of them women and children, and left 108,000 wounded, according to the Palestinian health ministry. Around 100 Israelis remain captive in Gaza, but a third are believed to be dead.
Kamal Adwan Hospital has been the target of around 50 recorded attacks on or near the facility since early October 2024, according to the WHO.
The latest raid left the hospital’s laboratory, surgical unit, engineering and maintenance department, operating theater, and medical store severely damaged by fire.
Lieutenant Colonel Nadav Shoshani, an Israeli military spokesperson, denied troops had entered the facility or started the fire.
“While IDF troops were not in the hospital, a small fire broke out in an empty building inside the hospital that is under control,” he said. A preliminary investigation had found “no connection” between the military operation and the fire, he added.
Dr. Abu Safiya’s detention has sparked global outcry as UN agencies, rights groups, and non-governmental organizations demanded his immediate release.
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A viral image of Dr. Abu Safiya, believed to depict his final moments before his arrest, shows him walking alone, dressed in his white lab coat, among the rubble of a devastated street towards Israeli tanks.
Healthcare workers around the world joined an online solidarity campaign, prompting the launch of a petition calling on the US to pressure Israel to release Dr. Abu Safiya and stop targeting hospitals, medical staff, and patients.
Francesca Albanese, the UN special rapporteur on human rights in the occupied Palestinian territories, urged global medical professionals to cut ties with Israel in protest at the arrest.
“For each Palestinian life that should and could have been saved in Gaza, we have been put to the test. And we have failed, over and over,” she posted on X. “We must not fail again. All of us must do all we can to save Dr. Abu Safiya.”
According to the Palestinian health ministry, more than 1,000 medical workers have been killed and more than 300 detained since the war between Israel and Hamas began on Oct. 7, 2023, while some 130 ambulances have been knocked out of action.
The whereabouts of Dr. Abu Safiya and his staff remains unknown, although several released detainees told CNN he was being held at the Sde Teiman military base — a facility close to the Gaza border notorious for allegations of abuse, which Israel denies.
Dr. Abu Safiya rose to prominence for documenting the challenges facing healthcare professionals in Gaza since the war began, including shortages of staff and medical supplies.
In an earlier raid on Oct. 25, he was briefly detained and questioned after refusing multiple orders to leave Kamal Adwan Hospital. The Israeli army had stormed the facility, detained many patients and 57 hospital staff, according to Gaza health authorities.
During that Israeli operation, Dr. Abu Safiya’s 15-year-old son was reportedly killed in a drone strike at the hospital gate. Dr. Abu Safiya insisted on continuing to tend to his patients, and continued to do so even after he was wounded in an attack on Nov. 23.
“We are suffering from a severe shortage of doctors, especially surgeons,” he said at the time. “Right now, we only have pediatricians — it is a huge challenge to work under these circumstances.”
On Dec. 31, the Office of the UN High Commissioner for Human Rights published a report detailing the destruction of Gaza’s healthcare facilities. The report found that 27 hospitals and 12 other medical facilities had suffered 136 strikes between Oct. 7, 2023 and June 30, 2024.
The UN warned that the strikes caused “significant damage to, if not the complete destruction of, civilian infrastructure,” and pushed the healthcare system in the Palestinian territory to the “brink of total collapse.”
Just 17 of Gaza’s 36 hospitals remain partially functional, according to the WHO’s latest figures.
In its report, the UN labeled Israel’s claim that Gaza’s hospitals are being used by Hamas for military purposes as “vague” and “insufficient.”
A day earlier, UN human rights experts said the backing of allies has enabled Israel to continue committing “genocidal acts” and defying international law. They stressed that Israel needed to be held accountable for “inflicting maximum suffering” on Palestinian civilians, particularly in northern Gaza.
They noted the siege, “coupled with expanding evacuation orders, appears intended to permanently displace the local population as a precursor to Gaza’s annexation.”
Israel said the siege was aimed at preventing Hamas from regrouping.
As ceasefire talks continue, the Palestinian health ministry has called on the international community to intervene to protect healthcare professionals, secure the release of detainees, and facilitate a safe environment in which the sick and injured can receive treatment.
The closure of Kamal Adwan Hospital leaves a population of some 75,000 Palestinians in the north without access to medical care — a crisis exacerbated by bitter winter conditions and shortages of food, medicine, and shelter.
More than 90 percent of Gaza’s 2.3 million Palestinians have been repeatedly displaced, according to aid agencies, with many now enduring winter temperatures in squalid tent camps, often flooded by heavy rain, in south and central Gaza.
For those who have remained in northern Gaza, hospitals are no longer an option for shelter.
“As if the relentless bombing and the dire humanitarian situation in Gaza were not enough, the one sanctuary where Palestinians should have felt safe in fact became a death trap,” Volker Turk, the UN human rights chief, said in a statement.
Health officials say the loss of Kamal Adwan Hospital, in particular, will leave civilians in northern Gaza without treatment at the very moment they are most vulnerable.
In a post on X, Palestinian surgeon Dr. Ghassan Abu Sitta said hypothermia, malnutrition, and injury had become the triad of death.
“This means that people will die of hypothermia at higher temperatures, will starve to death much quicker, and will succumb to less severe wounds.”
