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Saudi-Turkey Ties Grow with Erdogan Visit, Agree to Form ‘Strategic Cooperation Council’
- December 30,2015
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- SUSTG Team
Turkish President Recep Tayyip Erdogan visited Saudi Arabia this week to meet with top Saudi officials to discuss security and energy cooperation. Erdogan said his government and Saudi Arabia are working “in solidarity and consultation” to find a political solution for Syria, as both countries push for an agreement that would remove Assad from power, […]
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Early Look at Saudi Arabia’s 2016 Budget Reveals Spending at $226b
- December 28,2015
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- SUSTG Team
Saudi officials revealed the Kingdom’s 2016 budget at a press conference today in Riyadh, a budgeted spend of 840 billion riyals ($224 billion) and forecasted revenue at 513 billion ($137 billion). The budget plan aims to reduce the fiscal deficit while raising revenues from sources other than oil. King Salman said that Saudi Arabia’s economy […]
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‘Major Economic Shake-Up’ In the Works for Saudi Arabia
- December 21,2015
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- SUSTG Team
Saudi Arabia’s deputy crown prince Mohammed bin Salman, Minister of Defense and chair of the powerful Council of Economic and Development Affairs, is planning a major economic shake-up that involves “plans to reshape the economy to withstand low oil prices,” sources told Reuters privately. The strategy includes state spending reforms and privatizations. Bloomberg reports that Saudi officials […]
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Foreign Minister Al-Jubeir Discusses Yemen, Islamic Military Alliance in France 24 Interview
- December 18,2015
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- SUSTG Team
In an interview with France24 on YouTube, Saudi Arabia’s foreign minister Adel Al-Jubeir discussed the ongoing Yemen peace talks in Geneva, the situation in Yemen, the newly created Islamic Military Alliance and also responded to a question about Donald Trump’s recent remarks regarding Muslims in America. On the conflict in Yemen, Al-Jubeir said that he hoped […]
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No Change in Oil Strategy As Producers Continue With Pursuit of Market Share
- December 4,2015
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- SUSTG Team
OPEC appeared likely to maintain its policy of high production levels at its annual meeting in Vienna, according to reports, a decision that will continue downward pressure on crude prices in favor of greater market share. The decision to stick to the strategy was expected, but it is risky for countries that need the revenue, […]
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All Eyes on Vienna as OPEC’s 168th Meeting Marks One Year of Saudi-led Strategy to Squeeze High Cost Producers
- December 1,2015
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- SUSTG Team
The oil-producing nations of OPEC convene in Vienna on Friday, exactly one year since Saudi Arabia took the lead on its strategy to ramp up output to drive out higher-cost producers and secure market share. The results have been a global oil market in a state of persistent oversupply and unexpected resilience from smaller producers. Saudi […]
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Jeddah Construction Gets Boost with $2.2b Real Estate Fund
- November 30,2015
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- SUSTG Team
A new real $2.2 billion estate fund will drive ongoing construction at the Kingdom Tower Jeddah and the surrounding development, slated to become the world’s tallest building upon its targeted completion in 2018. Jeddah Economic Co., co-founded by Saudi billionaire Prince Alwaleed Bin Talal’s Kingdom Holding Co., is forming the 8.4 billion-riyal ($2.2 billion) real estate […]
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‘The key challenges are our overdependence on oil and the way we prepare and spend our budgets’, Saudi Deputy Crown Prince Mohammed bin Salman Says to NYT Columnist Friedman
- November 25,2015
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- SUSTG Team
In an op-ed published today in the New York Times, columnist Tom Friedman discussed his recent visit to Saudi Arabia and the seismic shift in governance in the Kingdom over the last year. The columnist spent an evening with one of the Middle East’s most powerful leaders, Deputy Crown Prince Mohammed bin Salman, and said the […]
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Report: Saudi Arabia to Work with OPEC to ‘Stabilize Prices’
- November 24,2015
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- SUSTG Team
A Bloomberg report citing the Saudi Press Agency said the Kingdom would work with producers within and outside the Organization of the Petroleum Exporting Countries to stabilize the market. The news sent oil price futures higher on international indices on Monday, but speculation about a global supply glut and signs of rising U.S. stockpiles caused […]
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Land Tax Finalized: 2.5% Annual Fee on Property Approved in Cabinet Session Chaired by King Salman
- November 23,2015
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- SUSTG Team
Saudi Arabia’s cabinet, in a meeting chaired by King Salman, finalized a 2.5% fee on undeveloped land within city limits intended for residential or commercial use, according to the SPA and reports. Property experts told the Saudi Gazette that the fee could raise up to $13 billion (SR50 billion) worth of revenues annually for the government. The […]
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MUST-READS
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U.S.-Saudi RelationsOpinion: A New Chapter in the Tangled U.S.-Saudi Relationship
Obama’s failure to match action to his verbal demand for Assad to leave has been at the heart of what had been an ever deepening malaise in U.S.-Saudi relations. The decline in the relationship dates back to the 2003 U.S. invasion of Iraq that had led to the 2006 election of a pro-Iranian government, with Washington’s backing, under Prime Minister Nouri al-Maliki only now leaving power. The Saudis were furious that the United States, its main foreign protector, had turned Iraq over to Iran “on a silver platter.”
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Anti-ISIS StrategyHagel Says U.S. Seeks Three-Front War on Islamic State
The U.S. will combat Islamic State extremists through a “three-front” battle waged by Syrian rebels, Kurds and Iraqi security forces, Defense Secretary Chuck Hagel said.
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US MilitaryRift widens between Obama, U.S. military over strategy to fight Islamic State
Despite Obama’s promise that he would not deploy ground combat forces, Dempsey made clear that he didn’t want to rule out the possibility, if only to deploy small teams in limited circumstances. He also acknowledged that Army Gen. Lloyd Austin, the commander for the Middle East, had already recommended doing so in the case of at least one battle in Iraq but was overruled.
- Reuters - France Says It Launches First Air Strikes in Iraq
- Army Times - Odierno Did Not Call for U.S. Ground Forces to Fight ISIS, Spokeswoman Says
- Stars and Stripes - Islamic State opens major offensive in north Syria
- Government Executive - Obama's ISIS Strategy Will Not Achieve Its Goals, Security Insiders Say
- National Journal - Pentagon Signs Off on Plan for Striking ISIS in Syria
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AfghanistanAfghan official says the government has nearly run out of money, needs U.S. bailout
Afghanistan’s central government is nearly broke and needs a $537 million bailout from the United States and other international donors within “five or six days” to continue paying its bills, a senior Afghan finance official said Tuesday. Crippled by a growing budget shortfall, the Afghan government has spent hundreds of millions of dollars of easily accessible reserve funds this year, said Alhaj M. Aqa, the director general of the treasury at the Finance Ministry.
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Islamic StateIgnatius: U.S. boots are already on the ground against the Islamic State
Title 50 of the U.S. Code regulates the activities of the Central Intelligence Agency. An often-cited passage is Section 413b, which deals with presidential approval and reporting of “covert actions.” In essence, this statute gives the president authority, with a proper “finding,” to send U.S. Special Operations forces on paramilitary operations, under the command of the CIA. The best-known example was the 2011 raid on Abbottabad, Pakistan, that killed Osama bin Laden.
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US-SyriaU.S. lawmakers move toward arming Syrian rebels, with conditions
The U.S. House of Representatives will begin debating legislation on Tuesday to give President Barack Obama approval for arming and training rebels who oppose both Islamic State militants and Syria's government. Republican lawmakers unveiled a measure, written with input from the White House, that would quickly provide the authority - but not the funding - that Obama wants to equip and train the moderate Syrian rebels.
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Syrian Rebel GroupsPotential U.S. allies? Syrian rebel groups at a glance
President Obama has said a key part of his strategy to degrade and defeat Islamic State militants will be working with moderate Syrian opposition groups. He has called on Congress to authorize $500 million to train and arm Syrian rebels to become America's partners. But who are these groups, and to what degree can the U.S. rely on them?
- Lawfare - Opinion: The Foreign Policy Essay: Is this How to Win the war on Terrorism?
- Small Wars Journal - Opinion: If You Liked Vietnam, You'll Love the War With the Islamic State
- NYT - Syrian Leaders See Opportunities and Risks in U.S. Striking ISIS on Their Soil
- NYT - Opinion: To Stop ISIS in Syria, Support Aleppo
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US Energy ProductionFracking Gives U.S. Energy Boom Plenty of Room to Run
But the boom already has lasted longer than anyone would have imagined just a decade ago and has more room to run. That's because oil and natural-gas wells have become more productive—an unrecognized but potent trend that should keep the fuels flowing.
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US-SaudiArab Nations Offer to Conduct Airstrikes Against ISIS, U.S. Officials Say
Several Arab countries have offered to carry out airstrikes against militants from the Islamic State in Iraq and Syria, senior State Department officials said Sunday.
- Washington Post - U.S. aims to exclude Iran from coalition against Islamic State
- CNN - Who is doing what in the coalition battle against ISIS?
- CBS News - John Kerry: "We are at war" with ISIS
- Defense One - Here's What Arab Militaries Bring to the Fight Against the Islamic State
- Al-Arabiya - Opinion: America can degrade ISIS, Arabs should destroy it
- The Guardian - US 'encouraged' as UAE and Saudis offer help in coalition attack on Isis
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U.S. Wars‘American War Generals’ a sobering reflection on U.S. failures in Iraq
As the U.S. escalates its campaign against jihadists in Iraq and Syria, a new documentary offers a cautionary tale about putting too much faith in technology and forgetting hard-fought lessons from the past. “American War Generals,” which airs Sunday at 8 p.m. on the National Geographic Channel, looks at how the U.S. military recovered from its disastrous endeavor in Vietnam, remade itself into an all-volunteer force that focused on fighting conventional wars, and then came close to defeat in Iraq and Afghanistan as it faced a type of enemy it vowed never to fight again.
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