A Saudi delegation arrived in Tehran to talk about reinstating diplomatic relations with Iran after a seven-year hiatus. The visit takes place two days after the historic summit between the heads of diplomatic missions of Iran and Saudi Arabia, which took place in China after the two nations decided to reestablish diplomatic relations last month.

Saudi Arabia’s delegation arrives in Iran to discuss embassy reopening

Saudi Arabia and Iran to implement 20-year old agreements

As Pakistan continues to struggle economically, a report by the prominent Washington-based think tank, United States Institute of Peace (USIP), said that the cash-strapped country needs to repay a whopping $77.5 billion in external debt from April 2023 to June 2026. The report published on Thursday (April 6) also warned that Islamabad could face “disruptive effects” if it ultimately defaults.&nbsp;

Pakistan is currently facing soaring inflation at 35.37 per cent which is the highest in over five decades while prices of essential food items such as wheat flour, sugar, and edible oil rose significantly. Meanwhile, the country is also facing political conflicts and rising terrorism, said the report, warning that it is at risk of default due to its massive external debt obligations.&nbsp;

According to the USIP report, in the next three years, the debt-stricken country has to repay a number of Chinese financial institutions, private creditors and Saudi Arabia. Between April to June, this year, Islamabad faces near-term debt repayment pressure as the external debt servicing burden is at $4.5 billion, said the report. It added that Pakistan has to repay $1 billion to the Chinese SAFE deposit and another loan of around $1.4 billion from Chinese commercial is also due to mature.&nbsp;

The US-based think tank, in its report, also suggests that Pakistani officials are hoping to convince the Chinese to not only refinance but also roll over both debts, adding that they have managed to do so before. However, even if they do pull it off this time as well, the next fiscal year for Pakistan would be more challenging as the debt servicing will reportedly rise to nearly $25 billion.

The short-term debt repayments include $4 billion to Chinese SAFE deposits, $3 billion to Saudi deposits and $2 billion to United Arab Emirates (UAE) deposits, said the report, adding that the “Pakistani government assumes they will be rolled over by the creditors each year.” Separately, Pakistan also needs to repay another $1.1 billion of long-term commercial loans to Chinese banks, said the USIP.&nbsp;

As of December 2022, Islamabad also holds external debt and liabilities of $126.3 billion, at least 77 per cent of this debt, which amounts to around $97.5 billion, is directly owed by the government of Pakistan to various creditors.&nbsp;

Meanwhile, Pakistan also continues to struggle with securing the $6.5 billion bailout package the International Monetary Fund (IMF) approved in 2019 which also expires in June this year. However, Pakistan and the IMF have been negotiating the programme's resumption for months but are yet to reach an agreement.

(With inputs from agencies)&nbsp; 
 
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As Pakistan continues to struggle economically, a report by the prominent Washington-based think tank, United States Institute of Peace (USIP), said that the cash-strapped country needs to repay a whopping $77.

As Pakistan continues to struggle economically, a report by the prominent Washington-based think tank, United States Institute of Peace (USIP), said that the cash-strapped country needs to repay a whopping $77.5 billion in external debt from April 2023 to June 2026. The report published on Thursday (April 6) also warned that Islamabad could face “disruptive effects” if it ultimately defaults. Pakistan is currently facing soaring inflation at 35.37 per cent which is the highest in over five decades while prices of essential food items such as wheat flour, sugar, and edible oil rose significantly. Meanwhile, the country is also facing political conflicts and rising terrorism, said the report, warning that it is at risk of default due to its massive external debt obligations. According to the USIP report, in the next three years, the debt-stricken country has to repay a number of Chinese financial institutions, private creditors and Saudi Arabia. Between April to June, this year, Islamabad faces near-term debt repayment pressure as the external debt servicing burden is at $4.5 billion, said the report. It added that Pakistan has to repay $1 billion to the Chinese SAFE deposit and another loan of around $1.4 billion from Chinese commercial is also due to mature. The US-based think tank, in its report, also suggests that Pakistani officials are hoping to convince the Chinese to not only refinance but also roll over both debts, adding that they have managed to do so before. However, even if they do pull it off this time as well, the next fiscal year for Pakistan would be more challenging as the debt servicing will reportedly rise to nearly $25 billion. The short-term debt repayments include $4 billion to Chinese SAFE deposits, $3 billion to Saudi deposits and $2 billion to United Arab Emirates (UAE) deposits, said the report, adding that the “Pakistani government assumes they will be rolled over by the creditors each year.” Separately, Pakistan also needs to repay another $1.1 billion of long-term commercial loans to Chinese banks, said the USIP. As of December 2022, Islamabad also holds external debt and liabilities of $126.3 billion, at least 77 per cent of this debt, which amounts to around $97.5 billion, is directly owed by the government of Pakistan to various creditors. Meanwhile, Pakistan also continues to struggle with securing the $6.5 billion bailout package the International Monetary Fund (IMF) approved in 2019 which also expires in June this year. However, Pakistan and the IMF have been negotiating the programme's resumption for months but are yet to reach an agreement. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Cash-strapped Pakistan owes $77bn to China, Saudi Arabia, needs to repay by 2026: Report

The rise of Mohammad Bin Salman and his policies are shaping not just Saudi Arabi but also West Asia. The Crown Prince is looking to mend ties with Iran, Syria & Yemen. After decades of war, is MBS pivoting towards peace?

Is Saudi Prince pivoting towards peace? | The West Asia Post

Saudi is all set to script history as it is about to send off its first woman astronaut Rayyanah Barnawi, along with a fellow Saudi, on their monumental space expedition to ISS on May 9.

During a joint press briefing on Thursday, NASA and Axiom Space officials said that Barnawi and Ali Al-Qarni will take off from Florida on a private mission to the International Space Station (ISS).

Barnawi, a breast cancer researcher, is the first Saudi woman to embark into space and will be joined by Ali Al-Qarni, a fighter pilot.

There are two other astronauts who will join Barnawi and Ali Al-Qarni in their voyage. They are Peggy Whitson, a former NASA astronaut who will be making her fourth flight to the ISS, and John Shoffner, a businessman from Tennessee who will serve as pilot.

All four of them will join UAE astronaut Sultan Al Neyadi, who began his six-month mission on March 3, on board the ISS.

SpaceX Falcon 9 rocket will carry the four-member crew and is scheduled for lift-off from the Kennedy Space Center at Cape Canaveral at 0243 GMT.

They will travel to the ISS aboard a SpaceX Dragon capsule and spend 10 days aboard the orbiting space station. The mission to the ISS, called, Axiom Mission 2, will be the second by Axiom Space, a private US space company.

Barnawai was excited when the announcement to the expedition was made. She said that this space voyage would complete the goals of the Kingdom’s space program and will contribute to achieving future explorations in various fields, reported the Saudi Gazette newspaper.

Echoing similar emotions, Al-Qarni stated, “The fact is that our mission as the first Saudi astronauts to visit the International Space Station would not have been possible without the support of our wise leadership.”

(With inputs from agencies)

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Saudi is all set to script history as it is about to send off its first woman astronaut Rayyanah Barnawi, along with a fellow Saudi, on their monumental space expedition to ISS on May 9.

Saudi is all set to script history as it is about to send off its first woman astronaut Rayyanah Barnawi, along with a fellow Saudi, on their monumental space expedition to ISS on May 9. During a joint press briefing on Thursday, NASA and Axiom Space officials said that Barnawi and Ali Al-Qarni will take off from Florida on a private mission to the International Space Station (ISS). Barnawi, a breast cancer researcher, is the first Saudi woman to embark into space and will be joined by Ali Al-Qarni, a fighter pilot. There are two other astronauts who will join Barnawi and Ali Al-Qarni in their voyage. They are Peggy Whitson, a former NASA astronaut who will be making her fourth flight to the ISS, and John Shoffner, a businessman from Tennessee who will serve as pilot. All four of them will join UAE astronaut Sultan Al Neyadi, who began his six-month mission on March 3, on board the ISS. SpaceX Falcon 9 rocket will carry the four-member crew and is scheduled for lift-off from the Kennedy Space Center at Cape Canaveral at 0243 GMT. They will travel to the ISS aboard a SpaceX Dragon capsule and spend 10 days aboard the orbiting space station. The mission to the ISS, called, Axiom Mission 2, will be the second by Axiom Space, a private US space company. Barnawai was excited when the announcement to the expedition was made. She said that this space voyage would complete the goals of the Kingdom’s space program and will contribute to achieving future explorations in various fields, reported the Saudi Gazette newspaper. Echoing similar emotions, Al-Qarni stated, “The fact is that our mission as the first Saudi astronauts to visit the International Space Station would not have been possible without the support of our wise leadership.” (With inputs from agencies) WATCH WION LIVE HERE

Saudi Arabia to put its first female astronaut in space on May 9

Two Russian vessels left Jeddah on Thursday after making the first port call by the Russian navy in a Saudi Arabia port for a decade. Russia's defense ministry said on its website that the port call was the first by a Russian warship in about 10 years.

Russian missile frigate makes rare port call in Saudi Arabia

The foreign ministers of Iran and Saudi Arabia on Thursday met in Beijing where they pledged to work together for establishing "security and stability" in the turbulent Middle East following a surprise deal, brokered by China.

Iranian Foreign Minister Hossein Amir-Abdollahian and his Saudi counterpart Prince Faisal bin Farhan held talks after which they released a joint statement in which both countries promised to continue working together for improving their ties.

"The two sides emphasised the importance of following up on the implementation of the Beijing Agreement and its activation in a way that expands mutual trust and the fields of cooperation and helps create security, stability and prosperity in the region," the statement read.

ALSO READ | <a href="https://www.wionews.com/world/iran-saudi-arabia-restore-ties-as-china-brokered-deal-outfoxes-west-570766">Iran, Saudi Arabia restore ties as China-brokered deal outfoxes West</a>

The two ministers agreed to reopen their diplomatic missions and proceed with taking the necessary measures to open embassies in Riyadh and Tehran, and their general consulates in Jeddah and Mashhad.&nbsp;The leaders also decided to continue co-ordination between the technical teams on both sides to discuss ways to enhance co-operation&nbsp;by including the resumption of flights, mutual visits by official delegations and private sector, and facilitating the granting of visas to citizens, including Umrah visas. 
 
In March, Tehran and Riyadh had announced an agreement, brokered by Beijing, to restore their relations which had remained severed for seven years, when Saudi diplomatic missions were attacked by protesters in Iran.

In a statement, Iran's foreign ministry said that the two sides “negotiated and exchanged opinions with the emphasis on the official resumption of bilateral relations and the executive steps towards the reopening of the embassies and consulates of the two countries”.

The footage of leaders shaking hands and chatting with smiling faces in front of Saudi and Iranian flags was aired by the Saudi state TV channel Al Ekhbariya.

In state broadcaster CCTV's readout, Beijing hailed "the first official meeting between the foreign ministers of the two countries in more than seven years" and "active mediation" of China in the diplomacy.

WATCH | In China, Saudi &amp; Iran foreign ministers discuss reopening embassies and consulates | Details

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Meanwhile, Chinese foreign ministry spokesperson Mao Ning, in a press briefing, said, "China will work with Middle Eastern countries to implement global security initiatives, global development initiatives and global civilisation initiatives to promote security, stability, development, prosperity, tolerance and harmony.”

As per last month's agreement, the two countries will reopen their missions and embassies within two months and implement economic co-operation and security deals which have signed more than 20 years ago.

(With inputs from agencies)

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The foreign ministers of Iran and Saudi Arabia on Thursday met in Beijing where they pledged to work together for establishing "security and stability" in the turbulent Middle East following a surprise deal, brokered by China.

The foreign ministers of Iran and Saudi Arabia on Thursday met in Beijing where they pledged to work together for establishing "security and stability" in the turbulent Middle East following a surprise deal, brokered by China. Iranian Foreign Minister Hossein Amir-Abdollahian and his Saudi counterpart Prince Faisal bin Farhan held talks after which they released a joint statement in which both countries promised to continue working together for improving their ties. "The two sides emphasised the importance of following up on the implementation of the Beijing Agreement and its activation in a way that expands mutual trust and the fields of cooperation and helps create security, stability and prosperity in the region," the statement read. ALSO READ | Iran, Saudi Arabia restore ties as China-brokered deal outfoxes West The two ministers agreed to reopen their diplomatic missions and proceed with taking the necessary measures to open embassies in Riyadh and Tehran, and their general consulates in Jeddah and Mashhad. The leaders also decided to continue co-ordination between the technical teams on both sides to discuss ways to enhance co-operation by including the resumption of flights, mutual visits by official delegations and private sector, and facilitating the granting of visas to citizens, including Umrah visas. In March, Tehran and Riyadh had announced an agreement, brokered by Beijing, to restore their relations which had remained severed for seven years, when Saudi diplomatic missions were attacked by protesters in Iran. In a statement, Iran's foreign ministry said that the two sides “negotiated and exchanged opinions with the emphasis on the official resumption of bilateral relations and the executive steps towards the reopening of the embassies and consulates of the two countries”. The footage of leaders shaking hands and chatting with smiling faces in front of Saudi and Iranian flags was aired by the Saudi state TV channel Al Ekhbariya. In state broadcaster CCTV's readout, Beijing hailed "the first official meeting between the foreign ministers of the two countries in more than seven years" and "active mediation" of China in the diplomacy. WATCH | In China, Saudi & Iran foreign ministers discuss reopening embassies and consulates | Details Meanwhile, Chinese foreign ministry spokesperson Mao Ning, in a press briefing, said, "China will work with Middle Eastern countries to implement global security initiatives, global development initiatives and global civilisation initiatives to promote security, stability, development, prosperity, tolerance and harmony.” As per last month's agreement, the two countries will reopen their missions and embassies within two months and implement economic co-operation and security deals which have signed more than 20 years ago. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Iran, Saudi Arabia agree to resume flights, bilateral visits; work for ‘security, stability’ in Middle East

The Foreign Ministers of Iran & Saudi met in Beijing, paving the way for normalised ties under a surprise china-brokered deal. last month, Tehran & Riyadh agreed to re-establish relations after years of hostility. The absence of ties between the two nations threatened stability & security in the region & helped fuel conflicts in West Asia, from Yemen to Syria. Saudi Arabia cut ties with Iran in 2016. Back then, its embassy in Tehran was stormed during a dispute over Riyadh's execution of a Shi'ite Muslim cleric.

In China, Saudi & Iran foreign ministers discuss reopening embassies and consulates | Details

West Asia is going through a reshuffle and the U.S. is losing influence. First, it was a Chinese-brokered deal between Saudi Arabia and Iran which restored ties between the two countries, and now there are reports that the kingdom might be warming up to Syria as well Ghadi Francis brings you the full report on this week's The West Asia Post.

Shifting ties in West Asia | The West Asia Post

In a series of public statements, on Sunday (April 2), Saudi Arabia and other OPEC+ members announced that they would further reduce oil production amounting to around 1.16 million barrels per day. The move, according to the countries, is aimed at market stability. The announcement comes a day before a virtual meeting of an OPEC+ ministerial panel is to convene, reported Reuters.&nbsp;

The unexpected cuts announced by Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Algeria, and Oman will begin in May and will last till the end of the year with more than one million barrels per day it will be the biggest reduction since the last one when the oil producers slashed two million barrels per day in October.&nbsp;

The move also comes after oil prices dropped last month to $70 per barrel which was the lowest in 15 months and following concerns that a global banking crisis would affect demand. However, following the pledges on Sunday, the oil prices are expected to surge by at least $10 per barrel, said the head of investment firm Pickering Energy Partners, as per Reuters. &nbsp;

The Organization of the Petroleum Exporting Countries (OPEC) which includes Saudi Arabia and Russia made the announcement in a series of public statements by different countries and called the move a “precautionary measure”. The statements came a day before OPEC+ is due to hold its&nbsp;Joint Ministerial Monitoring Committee meeting virtually, on Monday.&nbsp;

Similarly, Russian Deputy Prime Minister Alexander Novak, said that Moscow will extend its voluntary oil production reduction by 500,000 barrels per day until the end of this year. This also comes after Moscow had previously announced production cuts unilaterally in February following Western price caps on Russian oil.&nbsp;

“As responsible and preemptive actions, Russia will extend its voluntary oil production reduction by 500,000 barrels a day until the end of 2023 from the average production level in February established in conformity with independent sources,” said Novak.&nbsp;The Russian minister also talked about how the global oil market is going through a period of high volatility and unpredictability due to the recent banking crisis in the United States and Europe.

Notably, not all OPEC+ members were joining the cuts as many are already extracting much less than the levels agreed upon due to limited production capacity.&nbsp;OPEC+ consists of 13 members of the Organization of Petroleum Exporting Countries and 11 non-OPEC allied countries.

Production cuts announced by OPEC+ members, as per their official statements:&nbsp;

Russia: 500,000 bpd 
Saudi Arabia: 500,000 bpd 
UAE: 144,000 bpd 
Kuwait: 128,000 bpd 
Kazakhstan: 78,000 bpd 
Algeria: 48,000 bpd 
Oman: 40,000 bpd 
 
According to Reuters calculations, the total volume of cuts by the OPEC+ members would be 3.66 million bpd which amounts to 3.7 per cent of the global demand. This also comes months after OPEC+ had agreed to slash output by two million bdp from the following month, a move which was criticised by the United States as lower supply increased the price of oil.&nbsp;

Washington has also argued that the world needs lower prices to prevent Russian President Vladimir Putin from earning revenue and funding what Moscow calls its “special military operation” in Ukraine.&nbsp;

(With inputs from agencies)&nbsp; 
 
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In a series of public statements, on Sunday (April 2), Saudi Arabia and other OPEC+ members announced that they would further reduce oil production amounting to around 1.

In a series of public statements, on Sunday (April 2), Saudi Arabia and other OPEC+ members announced that they would further reduce oil production amounting to around 1.16 million barrels per day. The move, according to the countries, is aimed at market stability. The announcement comes a day before a virtual meeting of an OPEC+ ministerial panel is to convene, reported Reuters. The unexpected cuts announced by Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Algeria, and Oman will begin in May and will last till the end of the year with more than one million barrels per day it will be the biggest reduction since the last one when the oil producers slashed two million barrels per day in October. The move also comes after oil prices dropped last month to $70 per barrel which was the lowest in 15 months and following concerns that a global banking crisis would affect demand. However, following the pledges on Sunday, the oil prices are expected to surge by at least $10 per barrel, said the head of investment firm Pickering Energy Partners, as per Reuters. The Organization of the Petroleum Exporting Countries (OPEC) which includes Saudi Arabia and Russia made the announcement in a series of public statements by different countries and called the move a “precautionary measure”. The statements came a day before OPEC+ is due to hold its Joint Ministerial Monitoring Committee meeting virtually, on Monday. Similarly, Russian Deputy Prime Minister Alexander Novak, said that Moscow will extend its voluntary oil production reduction by 500,000 barrels per day until the end of this year. This also comes after Moscow had previously announced production cuts unilaterally in February following Western price caps on Russian oil. “As responsible and preemptive actions, Russia will extend its voluntary oil production reduction by 500,000 barrels a day until the end of 2023 from the average production level in February established in conformity with independent sources,” said Novak. The Russian minister also talked about how the global oil market is going through a period of high volatility and unpredictability due to the recent banking crisis in the United States and Europe. Notably, not all OPEC+ members were joining the cuts as many are already extracting much less than the levels agreed upon due to limited production capacity. OPEC+ consists of 13 members of the Organization of Petroleum Exporting Countries and 11 non-OPEC allied countries. Production cuts announced by OPEC+ members, as per their official statements: Russia: 500,000 bpd Saudi Arabia: 500,000 bpd UAE: 144,000 bpd Kuwait: 128,000 bpd Kazakhstan: 78,000 bpd Algeria: 48,000 bpd Oman: 40,000 bpd According to Reuters calculations, the total volume of cuts by the OPEC+ members would be 3.66 million bpd which amounts to 3.7 per cent of the global demand. This also comes months after OPEC+ had agreed to slash output by two million bdp from the following month, a move which was criticised by the United States as lower supply increased the price of oil. Washington has also argued that the world needs lower prices to prevent Russian President Vladimir Putin from earning revenue and funding what Moscow calls its “special military operation” in Ukraine. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Saudi Arabia, OPEC+ members announce oil production cuts by over a million bpd

A report by the news agency Reuters, citing three sources familiar with the plans, said that Saudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit, on Sunday (April 2). The summit, which is scheduled to take place on May 19, will be hosted in Riyadh this year. If the Syrian leader was to participate in the conference, it would formally end Syria’s regional isolation.&nbsp;

Assad’s attendance would also mark a significant development in his rehabilitation within the Arab world since 2011 when Syria was suspended from the 22-member organisation. While it would mostly be symbolic, Syria’s participation would reflect the change in regional approach towards the Syrian conflict where hundreds of thousands of people have lost their lives, which has also drawn several foreign powers and fractured the country

The report, citing two anonymous sources, also said Saudi Foreign Minister Prince Faisal bin Farhan will travel to Damascus in the upcoming weeks to extend a formal invitation to the Syrian president to attend the summit in May. “We are not supposed to be informed in advance about the assumed visit,” said Gamal Roshdy, spokesperson for the Arab League secretary general, as per Reuters.&nbsp;

The statement was made in the context that the 22-member body is not privy to every move on the bilateral level between Arab countries. This also comes a month after another report by Reuters citing sources claimed that Riyadh and Damascus have agreed to reopen their embassies after the Muslim holy month of Ramadan, however, the reports were not confirmed by Saudi officials.&nbsp;

Reports also suggest that the discussions have been going on for more than a year over a list of demands given by Saudi Arabia to the Syrian government to meet conditions to mend the ties between the two countries which reportedly include cooperation on border security and drug trafficking. However, discussions were postponed after devastating earthquakes in Turkey and Syria, in February, said anonymous sources to Reuters.&nbsp; 
 
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A report by the news agency Reuters, citing three sources familiar with the plans, said that Saudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit, on Sunday (April 2).

A report by the news agency Reuters, citing three sources familiar with the plans, said that Saudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit, on Sunday (April 2). The summit, which is scheduled to take place on May 19, will be hosted in Riyadh this year. If the Syrian leader was to participate in the conference, it would formally end Syria’s regional isolation. Assad’s attendance would also mark a significant development in his rehabilitation within the Arab world since 2011 when Syria was suspended from the 22-member organisation. While it would mostly be symbolic, Syria’s participation would reflect the change in regional approach towards the Syrian conflict where hundreds of thousands of people have lost their lives, which has also drawn several foreign powers and fractured the country The report, citing two anonymous sources, also said Saudi Foreign Minister Prince Faisal bin Farhan will travel to Damascus in the upcoming weeks to extend a formal invitation to the Syrian president to attend the summit in May. “We are not supposed to be informed in advance about the assumed visit,” said Gamal Roshdy, spokesperson for the Arab League secretary general, as per Reuters. The statement was made in the context that the 22-member body is not privy to every move on the bilateral level between Arab countries. This also comes a month after another report by Reuters citing sources claimed that Riyadh and Damascus have agreed to reopen their embassies after the Muslim holy month of Ramadan, however, the reports were not confirmed by Saudi officials. Reports also suggest that the discussions have been going on for more than a year over a list of demands given by Saudi Arabia to the Syrian government to meet conditions to mend the ties between the two countries which reportedly include cooperation on border security and drug trafficking. However, discussions were postponed after devastating earthquakes in Turkey and Syria, in February, said anonymous sources to Reuters. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Saudi Arabia to invite Syrian president Assad for Arab leaders summit: Report

Reports say Saudi Arabia could be thinking of pulling out of the Yemen war, this comes weeks after Riyadh and Tehran struck a deal to resume diplomatic relations. Molly Gambhir tells you.

Gravitas: Will Saudi Arabia pull out of the Yemen War? Is China behind the big decision?

Foreign Ministers of Saudi Arabia and Iran have agreed to hold bilateral talks to mend ties between the two Middle Eastern countries. How will the meeting change the regional dynamics? Molly Gambhir reports.

Gravitas: Saudi-Iran to mend ties after 7 years

Saudi Arabia and Iran seem to be moving fast in improving their relations after agreeing to restore ties. The foreign ministers of the two nations will be meeting during Ramadan to pave the way for re-opening of embassies.

Saudi Arabia and Iran foreign ministers will meet during Ramadan | Details

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud along with his Iranian counterpart Hossein Amirabdollahian have decided to hold talks during the ongoing holy month of Ramadan, which is important for Muslims, stated the Saudi state news agency SPA on Monday, under an agreement to restore ties.

The two ministers spoke over the phone for the second time in a few days, said SPA.

“During the call, a number of common issues were discussed in light of the tripartite agreement that was signed in the People’s Republic of China. The two ministers also agreed to hold a bilateral meeting between them during the ongoing month of Ramadan,” SPA stated.

ALSO READ | <a href="https://www.wionews.com/south-asia/saudi-arabia-refuses-to-provide-interest-free-loans-to-pakistan-demands-reforms-574585">Saudi Arabia refuses to provide interest-free loans to Pakistan, demands reforms</a>

Ramadan will most probably culminate on April 20.

Iran and Saudi Arabia, earlier this month, had agreed to revive the relations between the two nations after years of hostility had threatened security and stability in the Gulf and helped escalate conflicts in the Middle East from Syria to Yemen.

The China-brokered deal between the regional powers Iran and Saudi Arabia has announced after top security officials from the two nations held undisclosed talks.

Analysts said that both countries will benefit from de-escalation as Iran aims to undercut the efforts of the United States to isolate it in the region and the focus of Saudi Arabia has been on economic development.

WATCH | Gravitas: 'No more easy money', Saudi Arabia refuses to bailout Pakistan

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Ties between Saudi Arabia and Iran were cut in 2016 after Saudi's embassy in Tehran was stormed amid a dispute between the two nations over the execution of a Shi’ite Muslim cleric in Riyadh.

Iran has been blamed by Saudi Arabia for launching drone and missile attacks on its oil facilities in 2019 as well as for attacking its tankers in Gulf waters. The allegations were denied by Iran.

(With inputs from agencies)

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Saudi Foreign Minister Prince Faisal bin Farhan Al Saud along with his Iranian counterpart Hossein Amirabdollahian have decided to hold talks during the ongoing holy month of Ramadan, which is important for Muslims, stated the Saudi state news agency SPA on Monday, under an agreement to restore ties.

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud along with his Iranian counterpart Hossein Amirabdollahian have decided to hold talks during the ongoing holy month of Ramadan, which is important for Muslims, stated the Saudi state news agency SPA on Monday, under an agreement to restore ties. The two ministers spoke over the phone for the second time in a few days, said SPA. “During the call, a number of common issues were discussed in light of the tripartite agreement that was signed in the People’s Republic of China. The two ministers also agreed to hold a bilateral meeting between them during the ongoing month of Ramadan,” SPA stated. ALSO READ | Saudi Arabia refuses to provide interest-free loans to Pakistan, demands reforms Ramadan will most probably culminate on April 20. Iran and Saudi Arabia, earlier this month, had agreed to revive the relations between the two nations after years of hostility had threatened security and stability in the Gulf and helped escalate conflicts in the Middle East from Syria to Yemen. The China-brokered deal between the regional powers Iran and Saudi Arabia has announced after top security officials from the two nations held undisclosed talks. Analysts said that both countries will benefit from de-escalation as Iran aims to undercut the efforts of the United States to isolate it in the region and the focus of Saudi Arabia has been on economic development. WATCH | Gravitas: 'No more easy money', Saudi Arabia refuses to bailout Pakistan Ties between Saudi Arabia and Iran were cut in 2016 after Saudi's embassy in Tehran was stormed amid a dispute between the two nations over the execution of a Shi’ite Muslim cleric in Riyadh. Iran has been blamed by Saudi Arabia for launching drone and missile attacks on its oil facilities in 2019 as well as for attacking its tankers in Gulf waters. The allegations were denied by Iran. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Iranian, Saudi foreign ministers to hold talks during Muslim holy month

As a result of the fallout from Switzerland accredited Suites, the Saudi National Bank's chairman has now resigned. The Saudi National Bank was the largest stakeholder in Credit Suisse, which was on the verge of bankruptcy.

Saudi National bank chairman resigns after Credit Suisse buyout

Russia and China have topped the list of countries that registered the highest trade surplus in 2022, according to a report by the national statistical services of both countries, reports state-owned RT news.

China positioned itself as the top among the major economies as its surplus trade grew by 30 per cent last year to an all-time high of $877.6 billion.

It exported nearly $3.59 trillion worth of goods—a growth in export value of about 7 per cent compared to the last year. While imports surged only by 1.1 per cent to roughly $2.72 trillion.

Russia was placed second as its surplus increased by 1.7 times over the year to a record $333.4 billion. The country’s total exports reached $591.4 billion, up 19.9 per cent from 2021.

According to the data, energy sales constituted the bulk of Russia's foreign exports, reaching $383.73 billion—a 42.8 per cent year-on-year increase. Imports, however, slid 11.7 per cent to $259.1 billion compared to the previous year.

The report notes the impact of Western sanctions on Russia, and President Vladimir Putin’s efforts to promote self-sufficiency and import substitution measures on dwindling imports.

Saudi Arabia positioned itself third after registering its highest trade surplus since 2012 at $221.3 billion, followed by Norway, Australia and Qatar.

According to the Sputnik news agency, 26 major economies recorded a trade surplus of $2.45 trillion in 2022, compared to 32 countries with $2.1 trillion a year earlier.

The only country that managed to move from a trade deficit to a surplus last year was Nigeria.

Whereas, Germany saw its figure drop 2.4 times to $85.34 billion, slipping to the seventh spot from the second place a year earlier.

The data was presented by the national statistical agencies of the world's 60 largest economies. Sputnik and RT conducted a study based on this data.

(With inputs from agencies)

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Russia and China have topped the list of countries that registered the highest trade surplus in 2022, according to a report by the national statistical services of both countries, reports state-owned RT news.

Russia and China have topped the list of countries that registered the highest trade surplus in 2022, according to a report by the national statistical services of both countries, reports state-owned RT news. China positioned itself as the top among the major economies as its surplus trade grew by 30 per cent last year to an all-time high of $877.6 billion. It exported nearly $3.59 trillion worth of goods—a growth in export value of about 7 per cent compared to the last year. While imports surged only by 1.1 per cent to roughly $2.72 trillion. Russia was placed second as its surplus increased by 1.7 times over the year to a record $333.4 billion. The country’s total exports reached $591.4 billion, up 19.9 per cent from 2021. According to the data, energy sales constituted the bulk of Russia's foreign exports, reaching $383.73 billion—a 42.8 per cent year-on-year increase. Imports, however, slid 11.7 per cent to $259.1 billion compared to the previous year. The report notes the impact of Western sanctions on Russia, and President Vladimir Putin’s efforts to promote self-sufficiency and import substitution measures on dwindling imports. Saudi Arabia positioned itself third after registering its highest trade surplus since 2012 at $221.3 billion, followed by Norway, Australia and Qatar. According to the Sputnik news agency, 26 major economies recorded a trade surplus of $2.45 trillion in 2022, compared to 32 countries with $2.1 trillion a year earlier. The only country that managed to move from a trade deficit to a surplus last year was Nigeria. Whereas, Germany saw its figure drop 2.4 times to $85.34 billion, slipping to the seventh spot from the second place a year earlier. The data was presented by the national statistical agencies of the world's 60 largest economies. Sputnik and RT conducted a study based on this data. (With inputs from agencies) WATCH WION LIVE HERE

Russia, China record highest trade surplus in 2022, says data

Saudi Arabia will reportedly not be giving interest-free loans to Pakistan, and now Kuwait too has asked Pakistan to clear its diesel bill. Is the Arab world turning its back on debt-stricken Pakistan? Listen in to Vikram Chandra.

This World | Pakistan Economic Crisis: Is the Arab world turning its back on Islamabad?

Brazil's former president Jair Bolsonaro has reportedly handed over to the Brazilian authorities some expensive jewellery he had received from the Saudi Arabia government during his tenure. AFP reports that the 68-year-old far-right leader has been embroiled in a scandal over allegations that he brought these jewels into Brazil illegally. As per a Reuters report, the politician on Wednesday was ordered by Brazil's federal audit court (TCU) to deliver within five days a second set of jewellery he received from the Saudi government, the first one first set of jewellery had been seized by customs officials in 2021.

Watch |&nbsp;Bolsonaro under scanner over undeclared jewels given by Saudis

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The controversial politician has been accused of illegally trying to bring gifts into the country, but he has denied all wrongdoing.

Visitors to Brazil with items worth more than $1,000 are required to disclose them and pay import duty.

Also read |&nbsp;<a href="https://www.wionews.com/world/bolsonaro-will-hand-over-undeclared-jewels-given-to-him-by-saudis-report-571894">Bolsonaro will hand over undeclared jewels given to him by Saudis: Report</a>

However, in October 2021, it was revealed by the newspaper Estado de Sao Paulo that Bolsonaro's then-mines and energy minister's assistant attempted to enter Brazil with a backpack containing diamond jewellery from Swiss luxury brand Chopard following a business trip to Saudi Arabia. The assistant was stopped by customs officials.

Later, it was discovered that Bolsonaro had actually retained an additional set of Chopard jewels that, after the same trip, had entered Brazil undetected.

Also read |&nbsp;<a href="https://www.wionews.com/world/explained-all-about-bolsonaro-and-the-boxes-of-jewels-at-the-heart-of-a-probe-572243">Explained: All about Bolsonaro, and the boxes of jewels at the heart of a probe</a>

According to media accounts, the first set of jewels is valued at $3.2 million and the second set is worth at least $75,000. Some of these were reportedly given to the former president's wife as a gift. However, Bolsonaro claims "She has nothing to do with this, the box that was for her is with customs." Talking to the TV, he said that "I found out about this story a year later and my wife found out about it through the press."

Bolsonaro who, after losing to successor Luiz Inacio Lula da Silva, left the nation just two days before the end of his term, is likely to return to Brazil on March 30 as per his party.

(With inputs from agencies) 
 
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Brazil's former president Jair Bolsonaro has reportedly handed over to the Brazilian authorities some expensive jewellery he had received from the Saudi Arabia government during his tenure.

Brazil's former president Jair Bolsonaro has reportedly handed over to the Brazilian authorities some expensive jewellery he had received from the Saudi Arabia government during his tenure. AFP reports that the 68-year-old far-right leader has been embroiled in a scandal over allegations that he brought these jewels into Brazil illegally. As per a Reuters report, the politician on Wednesday was ordered by Brazil's federal audit court (TCU) to deliver within five days a second set of jewellery he received from the Saudi government, the first one first set of jewellery had been seized by customs officials in 2021. Watch | Bolsonaro under scanner over undeclared jewels given by Saudis The controversial politician has been accused of illegally trying to bring gifts into the country, but he has denied all wrongdoing. Visitors to Brazil with items worth more than $1,000 are required to disclose them and pay import duty. Also read | Bolsonaro will hand over undeclared jewels given to him by Saudis: Report However, in October 2021, it was revealed by the newspaper Estado de Sao Paulo that Bolsonaro's then-mines and energy minister's assistant attempted to enter Brazil with a backpack containing diamond jewellery from Swiss luxury brand Chopard following a business trip to Saudi Arabia. The assistant was stopped by customs officials. Later, it was discovered that Bolsonaro had actually retained an additional set of Chopard jewels that, after the same trip, had entered Brazil undetected. Also read | Explained: All about Bolsonaro, and the boxes of jewels at the heart of a probe According to media accounts, the first set of jewels is valued at $3.2 million and the second set is worth at least $75,000. Some of these were reportedly given to the former president's wife as a gift. However, Bolsonaro claims "She has nothing to do with this, the box that was for her is with customs." Talking to the TV, he said that "I found out about this story a year later and my wife found out about it through the press." Bolsonaro who, after losing to successor Luiz Inacio Lula da Silva, left the nation just two days before the end of his term, is likely to return to Brazil on March 30 as per his party. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Brazil ex-prez Bolsonaro hands over undeclared Saudi ‘gifts’ worth thousands of dollars to authorities

Is the Islamic world abandoning Pakistan? After Saudi Arabia refused to bailout Pakistan, Kuwait is making Islamabad pay its dues for diesel purchase. Molly Gambhir brings you a report.

Gravitas: Kuwait forces Pakistan to pay its dues | Saudi Arabia refuses to bailout Pakistan

More than a decade ago, Saudi Arabia cut ties with Syria. Now, Saudi state media says Riyadh is in talks with president Bashar Al-Assad's regime on resuming consular services. The move marks the latest Aaudi step towards mending rifts with regional rivals. Earlier this month, a Chinese-brokered deal was announced to restore diplomatic ties between Saudi Arabia and Iran. Saudi has been hinting at a rapprochement with Syria for weeks. In the aftermath of a devastating earthquake, Saudi sent aid to both rebel-held and government-controlled parts of Syria. In February, Saudi foreign minister said a consensus was building in the Arab world that a new approach requiring negotiations would be needed to address humanitarian crises. The Saudi foreign minister added policy shifts on Damascus could also help Syrian refugees in neighbouring Jordan and Lebanon. Syria was expelled from the cairo-based Arab league in 2011 over its violent crackdown on pro-democracy demonstrations.

Saudi says in talks with Syria to re-establish ties | Riyadh mending rifts with regional rivals

Saudi Arabia has refused to bailout Pakistan. The Kingdom says it can no longer give interest-free loans to Islamabad. Molly Gambhir reports.

Gravitas: 'No more easy money', Saudi Arabia refuses to bailout Pakistan

Facing an unprecedented economic crisis, Pakistan has been dealt yet another blow. Saudi Arabia has decided to not provide easy financial bailout or interest-free loans to Pakistan, according to an ET report.

Facing an unprecedented economic crisis, Pakistan has been dealt yet another blow. Saudi Arabia has decided to not provide easy financial bailout or interest-free loans to Pakistan, according to an ET report. Instead, the kingdom wants the south Asian country to focus its energy on signing a bailout deal with the International Monetary Fund (IMF). Only after a deal with IMF is struck that the kingdom will decide on extending any loans. The decision by the kingdom has left the Pakistani government in shock which is in dire need of US dollar inflows. The country is on the verge of defaulting on $80 billion of international loan repayments while having only $3 billion in forex exchange reserves. Saudi Finance Minister Mohammed al-Jadaan indicated the newfound stance at the World Economic Forum in Davos, earlier this year. “We used to give direct grants and deposits without strings attached and we are changing that. We are working with multilateral institutions to actually say we need to see reforms," al-Jadaan said on the platform. For a large part of Pakistan's existence, Saudi Arabia has stepped up on multiple occasions to bail Islamabad out of its financial mess by extending zero-interest loans. A mere phone call by the Pakistani prime minister or a visit by the army chief was enough to secure the funding. However, the inability of the Pakistani government to repay those loans has irked the kingdom. The usual bailout avenue has now been shut leaving the lawmakers in a tizzy. In January, Pakistan Prime Minister Shehbaz Sharif said it was shameful for a country like Pakistan to have a nuclear weapon in one hand and a begging bowl in the other. WATCH | Is Pakistan's economic crisis getting worse? × Pakistan's inflation broke all previous records when the consumer price index reached 31.5 per cent in February. Since data-keeping began in July 1965, this is the first time inflation has crossed the threshold of 31.5 per cent in Pakistan. In April 1975, the inflation rate came close to February's figures but stood still at 29 per cent. ALSO READ | It's shameful for a nuclear power to beg for funds, says Pakistan PM Shehbaz Sharif Food and gas prices have touched new highs in recent months as Pakistan's import-based economy cannot handle the devaluation of its local currency. To secure IMF funding, the Pakistani government has implemented new tax measures as suggested by the global body. However, securing the final tranche of payment looks uncertain at the moment ALSO READ | Inflation breaks 50-year record in Pakistan, touches high of 31.5% (With inputs from agencies) WATCH WION LIVE HERE:

Saudi Arabia refuses to provide interest-free loans to Pakistan, demands reforms

Years of financial mismanagement and political instability have pushed Pakistan's economy to the brink of collapse. The global energy crisis and devastating floods that submerged a third of the country in 2022 have compounded woes. Now, Saudi Arabia has reportedly decided not to provide any further bailouts or interest-free loans to Pakistan. As per reports, even the Pakistani military chief couldn't convince Saudi crown prince to release emergency funding for the country.

Saudi Prince Mohammed bin Salman says, 'no more easy cash for Pak' as its economy teeters on edge

Iran has stated that Saudi Arabia has invited&nbsp;president Ebrahim Raisi for an official visit,&nbsp;a week after the nations' agreement to resume diplomatic ties.&nbsp;The invitation has reportedly&nbsp;come in the form of a&nbsp;letter from King Salman, but has not yet been confirmed by Saudi Arabia, said a BBC report.&nbsp;

West Asia's recent history has been&nbsp;marred by hostility between the two nations.&nbsp;The thaw, which was mediated by China could&nbsp;alter the geopolitics of the area.

A senior Iranian official, Mohammad Jamshidi, tweeted about the invitation to visit the Saudi capital, Riyadh, saying&nbsp;Raisi had welcomed it and "stressed Iran's readiness to expand co-operation," as quoted by the BBC.&nbsp;

Additionally, Hossein Amir-Abdollahian, Iran's foreign minister, told&nbsp;reporters that three potential venues are being considered&nbsp;for the two nations' meeting at the level of the foreign ministers. The meeting's potential date and places were not mentioned.

ALSO READ |<a href="https://www.wionews.com/world/elements-within-irans-revolutionary-guard-tried-to-target-supreme-leader-khamenei-over-protests-report-573801">&nbsp;'Elements' within Iran's revolutionary guard tried to target Supreme Leader Khamenei over protests: Report</a>

With the failure of previous attempts at reconciliation, many, including the US and the UN, welcomed this development.

Saudi Arabia severed ties with Iran in January 2016&nbsp;after protesters surrounded its embassy in Tehran.&nbsp;That came after Sheikh Nimr al-Nimr, a well-known Shia Muslim cleric who had been found guilty of crimes related to terrorism, was executed by Riyadh.

Since then, there have frequently been high levels of tension between the Sunni- and Shia-led neighbours, with each seeing the other as a threatening&nbsp;force vying for supremacy in the region.

Iran has also showed&nbsp;willingness to&nbsp;improve relations with other regional Arab adversaries, such as&nbsp;Jordan and the United Arab Emirates.

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Iran has stated that Saudi Arabia has invited president Ebrahim Raisi for an official visit, a week after the nations' agreement to resume diplomatic ties. The invitation has reportedly come in the form of a letter from King Salman, but has not yet been confirmed by Saudi Arabia, said a BBC report.

Iran has stated that Saudi Arabia has invited president Ebrahim Raisi for an official visit, a week after the nations' agreement to resume diplomatic ties. The invitation has reportedly come in the form of a letter from King Salman, but has not yet been confirmed by Saudi Arabia, said a BBC report. West Asia's recent history has been marred by hostility between the two nations. The thaw, which was mediated by China could alter the geopolitics of the area. A senior Iranian official, Mohammad Jamshidi, tweeted about the invitation to visit the Saudi capital, Riyadh, saying Raisi had welcomed it and "stressed Iran's readiness to expand co-operation," as quoted by the BBC. Additionally, Hossein Amir-Abdollahian, Iran's foreign minister, told reporters that three potential venues are being considered for the two nations' meeting at the level of the foreign ministers. The meeting's potential date and places were not mentioned. ALSO READ | 'Elements' within Iran's revolutionary guard tried to target Supreme Leader Khamenei over protests: Report With the failure of previous attempts at reconciliation, many, including the US and the UN, welcomed this development. Saudi Arabia severed ties with Iran in January 2016 after protesters surrounded its embassy in Tehran. That came after Sheikh Nimr al-Nimr, a well-known Shia Muslim cleric who had been found guilty of crimes related to terrorism, was executed by Riyadh. Since then, there have frequently been high levels of tension between the Sunni- and Shia-led neighbours, with each seeing the other as a threatening force vying for supremacy in the region. Iran has also showed willingness to improve relations with other regional Arab adversaries, such as Jordan and the United Arab Emirates. WATCH WION LIVE HERE:

Saudi Arabia extends invite to Iranian president Raisi, week after deciding to resume diplomatic relations

Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS). Saad Ibrahim Almadi, a 72-year-old retired project manager who resided in Florida was apprehended in November 2021 while visiting family in the kingdom.&nbsp;

Saudi officials reportedly dropped all charges against&nbsp;Almadi but it was unclear if he would be allowed to travel back to the US, due to a travel ban imposed on him following the prison sentence.&nbsp;

Almadi's son&nbsp;Ibrahim al Madi informed that his father had stayed home with family members based in Riyadh on Monday night.&nbsp;&nbsp;

<a href="https://www.wionews.com/world/us-citizen-sentenced-to-16-years-in-prison-by-saudi-court-over-tweets-526605">ALSO READ |&nbsp;US citizen sentenced to 16 years in prison by Saudi court over critical tweets</a>

“I welcome the release of Saad Almadi, my father and best friend,” Ibrahim said. “As I always say, we are the strongest country in the world. We can protect our interests and citizens.”

“Our fight is not over until Saad is back…He needs medical attention in the states.”

Almadi was arrested and later convicted regarding 14 of his tweets, over the last eight years where he remained critical of Saudi Arabia and its policies. In one of the tweets,&nbsp;Almadi approved of Washington renaming a street after 'murdered' Washington Post journalist&nbsp;Jamal Khashoggi.&nbsp;

In another tweet,&nbsp;he encouraged fellow Saudis to accept Lebanese citizenship. Some other statements of&nbsp;criticised the Saudi government’s policies and the corruption in the Saudi system.

After Almadi visited the kingdom, the authorities quickly arrested and charged him with harbouring a terrorist ideology, supporting and funding terrorism and&nbsp;attempting to destabilise the kingdom.&nbsp;

<a href="https://www.wionews.com/videos/saudi-arabia-launches-new-airline-to-create-over-200000-jobs-571372">WATCH |&nbsp;Saudi Arabia launches new airline, to create over 200000 jobs</a>

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In October 2022, the Saudi court sentenced him to 16 years in prison on top of a 16-year travel ban. Puzzlingly enough, three additional years were added to his sentence last month which makes his sudden release a mystery.&nbsp;

Some experts have suggested that the recent upswing in US-Saudi relations may have been the reason for Almadi's premature release. The US senate last week confirmed&nbsp;Michael Ratney as the envoy to Riyadh, two years after the post was left vacant.&nbsp;

Additionally, US plane maker Boeing last Tuesday signed a deal to sell 121 jets to kickstart Saudi airline Riyadh Air and national carrier Saudia Airlines.

(With inputs from agencies)

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Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS).

Saudi Arabia on Monday released an American citizen after he had been imprisoned for more than a year, serving a 19-year sentence, for his old tweets critical of the kingdom's Crown Prince Mohammed bin Salman (MBS). Saad Ibrahim Almadi, a 72-year-old retired project manager who resided in Florida was apprehended in November 2021 while visiting family in the kingdom. Saudi officials reportedly dropped all charges against Almadi but it was unclear if he would be allowed to travel back to the US, due to a travel ban imposed on him following the prison sentence. Almadi's son Ibrahim al Madi informed that his father had stayed home with family members based in Riyadh on Monday night. ALSO READ | US citizen sentenced to 16 years in prison by Saudi court over critical tweets “I welcome the release of Saad Almadi, my father and best friend,” Ibrahim said. “As I always say, we are the strongest country in the world. We can protect our interests and citizens.” “Our fight is not over until Saad is back…He needs medical attention in the states.” Almadi was arrested and later convicted regarding 14 of his tweets, over the last eight years where he remained critical of Saudi Arabia and its policies. In one of the tweets, Almadi approved of Washington renaming a street after 'murdered' Washington Post journalist Jamal Khashoggi. In another tweet, he encouraged fellow Saudis to accept Lebanese citizenship. Some other statements of criticised the Saudi government’s policies and the corruption in the Saudi system. After Almadi visited the kingdom, the authorities quickly arrested and charged him with harbouring a terrorist ideology, supporting and funding terrorism and attempting to destabilise the kingdom. WATCH | Saudi Arabia launches new airline, to create over 200000 jobs × In October 2022, the Saudi court sentenced him to 16 years in prison on top of a 16-year travel ban. Puzzlingly enough, three additional years were added to his sentence last month which makes his sudden release a mystery. Some experts have suggested that the recent upswing in US-Saudi relations may have been the reason for Almadi's premature release. The US senate last week confirmed Michael Ratney as the envoy to Riyadh, two years after the post was left vacant. Additionally, US plane maker Boeing last Tuesday signed a deal to sell 121 jets to kickstart Saudi airline Riyadh Air and national carrier Saudia Airlines. (With inputs from agencies) WATCH WION LIVE HERE:

Saudi Arabia releases American citizen sentenced to 19 years in prison for tweets critical of kingdom

Is the Arab world finally uniting? The President of Syria recently visited UAE. The President of Iran could visit Saudi Arabia soon. Molly Gambhir reports on the shifting sands in West Asia.

Gravitas: Syrian President visits UAE | Iran's President to visit Saudi Arabia

Iranian Foreign Minister Hossein Amirabdollahian said on Sunday (March 19) that Iran has suggested three locations to Saudi Arabia for foreign minister level meeting. He was speaking at a news conference in Tehran.

He did not disclose the locations or specify when the foreign minister level dialogue would take place.

In a separate development, an aide to Iran President Ebrahim Raisi said Saudi Arabia's King Salman had extended invitation to Raisi for a visit to Saudi Arabia. King Salman has welcomed the deal agreed on March 10 to restore ties between the two nations.

Raisi "welcomed the invitation," Mohammad Jamshidi, political deputy at the president's office, said on Twitter without mentioning a timeframe.

The Saudi government's communications office did not immediately respond to a request for comment. Saudi state media has not reported on the letter.

The deal between the region's Sunni Muslim and Shi'ite powers, brokered by China, was announced after four days of previously undisclosed talks in Beijing between top security officials from the two rival Middle Eastern powers.

Amirabdollahian also said Tehran was ready for the mutual reopening of embassies.

Saudi Arabia had cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric.

(With inputs from agencies)

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Iranian Foreign Minister Hossein Amirabdollahian said on Sunday (March 19) that Iran has suggested three locations to Saudi Arabia for foreign minister level meeting.

Iranian Foreign Minister Hossein Amirabdollahian said on Sunday (March 19) that Iran has suggested three locations to Saudi Arabia for foreign minister level meeting. He was speaking at a news conference in Tehran. He did not disclose the locations or specify when the foreign minister level dialogue would take place. In a separate development, an aide to Iran President Ebrahim Raisi said Saudi Arabia's King Salman had extended invitation to Raisi for a visit to Saudi Arabia. King Salman has welcomed the deal agreed on March 10 to restore ties between the two nations. Raisi "welcomed the invitation," Mohammad Jamshidi, political deputy at the president's office, said on Twitter without mentioning a timeframe. The Saudi government's communications office did not immediately respond to a request for comment. Saudi state media has not reported on the letter. The deal between the region's Sunni Muslim and Shi'ite powers, brokered by China, was announced after four days of previously undisclosed talks in Beijing between top security officials from the two rival Middle Eastern powers. Amirabdollahian also said Tehran was ready for the mutual reopening of embassies. Saudi Arabia had cut ties with Iran in 2016 after its embassy in Tehran was stormed during a dispute between the two countries over Riyadh's execution of a Shi'ite Muslim cleric. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Iran suggests locations for ministerial talks with Saudi Arabia

West Asia is experiencing swift changes in its regional order. While Iran and Saudi Arabia had signed a peace pact with china's mediation, it now seems Syria and the UAE are looking at improving ties. Syrian president Bashar Al Assad met with president Sheikh Mohammed in Abu Dhabi on Sunday.

Regional powers have decided to strike new deals and repair relations

Saudi Arabia's ambitions of turning its capital Riyadh into a global aviation hub got a significant push with a multi-billion dollar deal between Riyadh Air and US firm Boeing which included 39 confirmed 787-9 Dreamliners and options for further 33 additional airplanes.&nbsp;

The new world-class airline Riyadh Air was launched by the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, earlier this week.

Also Read | <a href="https://www.wionews.com/world/china-to-raise-retirement-age-to-tackle-ageing-population-571960">China to raise retirement age to tackle ageing population</a>

The agreement will be part of fifth largest commercial order by value in Boeing’s history, as per a press release by the American multinational corporation.&nbsp;This fleet deal will generate support in US in the form of 100,000 direct and indirect jobs. Additionally, it will also benefit over 300 suppliers from across 38 states, including 145 US small businesses.&nbsp;

As per the press release by Boeing, Riyadh Air is expected to add USD 20 billion to non-oil GDP growth and create over 200,000 direct and indirect jobs in Saudi Arabia.&nbsp;

It is a good news for Saudi Arabia, which is seeking ways to move away from its heavy reliance on oil and trying to diversify its economy. The deal, which also underlines the importance of Riyadh Air’s environmental goals, will support Saudi Arabia's goal of serving 330 million passengers and attracting 100 million visits by 2030.&nbsp;

Also Read | <a href="https://www.wionews.com/india-news/india-reports-third-death-from-h3n2-in-indian-state-of-gujarat-571891">India reports third death from H3N2 in Indian state of Gujarat</a>

Yasir Al-Rumayyan, who is the PIF Governor and Riyadh Air Chairman welcomed the fleet order and called it a "momentous day."&nbsp;He said, "The agreement highlights our determination to significantly extend Saudi Arabia’s connectivity with the world."&nbsp; 
&nbsp; 
"We look forward to fostering strong strategic relationships within the wider aviation ecosystem as we continue to shape the new airline to become one of the leading carriers around the world," he added.&nbsp;

Watch | <a href="https://www.wionews.com/videos/indonesias-new-capital-at-the-cost-of-environment-571886">Indonesia's new capital at the cost of environment?</a>

Riyadh Air CEO Tony Douglas said that the first deliveries of the widebody aircraft are scheduled for early 2025.&nbsp;“The new airline reflects the ambitious vision of Saudi Arabia to be at the core of shaping the future of global air travel and be a true disrupter in terms of guest experience," Douglas said adding, "Riyadh Air’s commitment to its guests will see the integration of digital innovation and authentic Saudi hospitality to deliver a seamless travel experience." 
&nbsp;

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Saudi Arabia's ambitions of turning its capital Riyadh into a global aviation hub got a significant push with a multi-billion dollar deal between Riyadh Air and US firm Boeing which included 39 confirmed 787-9 Dreamliners and options for further 33 additional airplanes.

Saudi Arabia's ambitions of turning its capital Riyadh into a global aviation hub got a significant push with a multi-billion dollar deal between Riyadh Air and US firm Boeing which included 39 confirmed 787-9 Dreamliners and options for further 33 additional airplanes. The new world-class airline Riyadh Air was launched by the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, earlier this week. Also Read | China to raise retirement age to tackle ageing population The agreement will be part of fifth largest commercial order by value in Boeing’s history, as per a press release by the American multinational corporation. This fleet deal will generate support in US in the form of 100,000 direct and indirect jobs. Additionally, it will also benefit over 300 suppliers from across 38 states, including 145 US small businesses. As per the press release by Boeing, Riyadh Air is expected to add USD 20 billion to non-oil GDP growth and create over 200,000 direct and indirect jobs in Saudi Arabia. It is a good news for Saudi Arabia, which is seeking ways to move away from its heavy reliance on oil and trying to diversify its economy. The deal, which also underlines the importance of Riyadh Air’s environmental goals, will support Saudi Arabia's goal of serving 330 million passengers and attracting 100 million visits by 2030. Also Read | India reports third death from H3N2 in Indian state of Gujarat Yasir Al-Rumayyan, who is the PIF Governor and Riyadh Air Chairman welcomed the fleet order and called it a "momentous day." He said, "The agreement highlights our determination to significantly extend Saudi Arabia’s connectivity with the world." "We look forward to fostering strong strategic relationships within the wider aviation ecosystem as we continue to shape the new airline to become one of the leading carriers around the world," he added. Watch | Indonesia's new capital at the cost of environment? Riyadh Air CEO Tony Douglas said that the first deliveries of the widebody aircraft are scheduled for early 2025. “The new airline reflects the ambitious vision of Saudi Arabia to be at the core of shaping the future of global air travel and be a true disrupter in terms of guest experience," Douglas said adding, "Riyadh Air’s commitment to its guests will see the integration of digital innovation and authentic Saudi hospitality to deliver a seamless travel experience." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Riyadh Air to get 72 Boeing Dreamliner airplanes in multi-billion dollar deal

The recent historic agreement between the two geopolitical arch rivals, Saudi Arabia and Iran, has rolled out a red carpet for China in the West Asian region, a country whose diplomatic clout was till now limited only to Indo-Pacific region. The 10 March agreement, which was a major breakthrough in the history of the nations marred by religious faultlines, has opened up a pandora's box, with experts laying down all sorts of geopolitical permutations and combinations.&nbsp;

WION exclusively spoke with former ambassador of Chile to China Jorge Heine to get his razor-sharp views on this crucial development which has fixated the attention of major global powers on China. But before we cater to the big fish - China, a look at US and its diminishing clout in the Gulf is imperative.&nbsp;

Ambassador Heine is a Research Professor at the Pardee School of Global Studies at Boston University. In a video interview with WION, the former diplomat said that the phenomenon of US stepping away from Gulf is not a new one.&nbsp;

"As you may recall some ten years ago, the United States announced that it was pivoting to Asia... by that Washington meant pivoting away from the Middle East, which had been the main focus and concern of the US foreign policy for a decade and move towards East Asia, mostly on China."&nbsp;

Watch the full interview here:&nbsp;

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"Well, there is a saying: Nature abhors a vacuum. China has stepped into that vacuum. Others can pivot as well."&nbsp;

In a book West Asia At War, another former Ambassador Talmiz Ahmad had pointed out the urgent need for Saudi Arabia to diversify its economy by stepping away from its dependence on oil. As Saudi looks actively for options in this quest, China will be more than happy to extend a helping hand.&nbsp;

Ambassador Heine argues in affirmative. China, he said, can play a role in developing Saudi infrastructure, connectivity and its industrial capacity. "I think that is very much in the cards."&nbsp;

The break of diplomatic relations between Saudi Arabia and Iran happened seven years ago in 2016. Though the negotiations have been going on for a couple of years, the envoy said that the deal got a "significant push" in recent months in Beijing, particularly after the visit of the Iranian president to China.&nbsp;

But one thing that the envoy is sure of is that the rapproachmet is a good news for all, be it Israel, India or even US. On &nbsp;hindsight, he added that the deal is a blow to Israeli Prime Minister Benjamin Netanyahu who has made it "his business and his primary foreign policy objective to isolate Iran" which is "obviously not working very well."&nbsp;

Envoy Heine, who recently co-authored a chapter in book "External Powers in Latin America", also argues that Latin American countries have been pressured by West to side with Ukraine in its ongoing war wit Russia and to provide arms to the war-torn country, but they rightly refused to adhere to the West's demands.&nbsp;

"This is a European war that should be solved and addressed by Europeans... we argue for active Non-Alignment taking a page for India traditional foreign policy and taking... a neutral stance in the war in Ukraine."&nbsp;

Speaking about the religious differences between Iran and Saudi Arabia, he said, there are some serious geopolitical concerns as the the nations are significant powers in West Asia and there is a natural element of competition between the two.&nbsp;

"It seems to me that both Riyadh and Tehran have come to the conclusion that that this is one piece of trouble (religious rift) they do not need and that they better make amends and work together... So I think they have concluded that best thing is to move forward, leave the difference behind and have a working relationship. This does not mean they will become best friends or some sort of military allies. They will not."

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<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

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The recent historic agreement between the two geopolitical arch rivals, Saudi Arabia and Iran, has rolled out a red carpet for China in the West Asian region, a country whose diplomatic clout was till now limited only to Indo-Pacific region.

The recent historic agreement between the two geopolitical arch rivals, Saudi Arabia and Iran, has rolled out a red carpet for China in the West Asian region, a country whose diplomatic clout was till now limited only to Indo-Pacific region. The 10 March agreement, which was a major breakthrough in the history of the nations marred by religious faultlines, has opened up a pandora's box, with experts laying down all sorts of geopolitical permutations and combinations. WION exclusively spoke with former ambassador of Chile to China Jorge Heine to get his razor-sharp views on this crucial development which has fixated the attention of major global powers on China. But before we cater to the big fish - China, a look at US and its diminishing clout in the Gulf is imperative. Ambassador Heine is a Research Professor at the Pardee School of Global Studies at Boston University. In a video interview with WION, the former diplomat said that the phenomenon of US stepping away from Gulf is not a new one. "As you may recall some ten years ago, the United States announced that it was pivoting to Asia... by that Washington meant pivoting away from the Middle East, which had been the main focus and concern of the US foreign policy for a decade and move towards East Asia, mostly on China." Watch the full interview here: × "Well, there is a saying: Nature abhors a vacuum. China has stepped into that vacuum. Others can pivot as well." In a book West Asia At War, another former Ambassador Talmiz Ahmad had pointed out the urgent need for Saudi Arabia to diversify its economy by stepping away from its dependence on oil. As Saudi looks actively for options in this quest, China will be more than happy to extend a helping hand. Ambassador Heine argues in affirmative. China, he said, can play a role in developing Saudi infrastructure, connectivity and its industrial capacity. "I think that is very much in the cards." The break of diplomatic relations between Saudi Arabia and Iran happened seven years ago in 2016. Though the negotiations have been going on for a couple of years, the envoy said that the deal got a "significant push" in recent months in Beijing, particularly after the visit of the Iranian president to China. But one thing that the envoy is sure of is that the rapproachmet is a good news for all, be it Israel, India or even US. On hindsight, he added that the deal is a blow to Israeli Prime Minister Benjamin Netanyahu who has made it "his business and his primary foreign policy objective to isolate Iran" which is "obviously not working very well." Envoy Heine, who recently co-authored a chapter in book "External Powers in Latin America", also argues that Latin American countries have been pressured by West to side with Ukraine in its ongoing war wit Russia and to provide arms to the war-torn country, but they rightly refused to adhere to the West's demands. "This is a European war that should be solved and addressed by Europeans... we argue for active Non-Alignment taking a page for India traditional foreign policy and taking... a neutral stance in the war in Ukraine." Speaking about the religious differences between Iran and Saudi Arabia, he said, there are some serious geopolitical concerns as the the nations are significant powers in West Asia and there is a natural element of competition between the two. "It seems to me that both Riyadh and Tehran have come to the conclusion that that this is one piece of trouble (religious rift) they do not need and that they better make amends and work together... So I think they have concluded that best thing is to move forward, leave the difference behind and have a working relationship. This does not mean they will become best friends or some sort of military allies. They will not." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Nature abhors a vacuum': ex-envoy Jorge Heine on China's rising clout in West Asia as US packs up and leaves

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