‘It is impossible’ for US-Russia relations to improve while sanctions are in place, Deripaska says

Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship. Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.” “If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CN


Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship. Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.” “If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CN
‘It is impossible’ for US-Russia relations to improve while sanctions are in place, Deripaska says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak
Keywords: news, cnbc, companies, place, impossible, way, improve, treasury, deripaska, flexing, muscle, sanctions, russian, wider, moscow, relations, west, usrussia


'It is impossible' for US-Russia relations to improve while sanctions are in place, Deripaska says

Russian tycoon Oleg Deripaska, a close confidant of Russian President Vladimir Putin, said on Sunday that Moscow and Washington are more interested in “muscle flexing” than improving their relationship.

Asked whether he has hopes of thawing tensions between Russia and the West while economic sanctions are in place, Deripaska replied: “The way I see it, from the U.S. side, it is impossible.”

“If you look at the reality, Russian people (and) American people, they don’t hate each other,” he told CNBC’s Geoff Cutmore during an exclusive interview in Moscow. “In the heart of the Russian people, I think there is room to go and start a new page but the problem is all of this muscle flexing from both sides.”

Deripaska on Friday filed a lawsuit against the U.S. Treasury Department to lift the sanctions it placed on him last year as part of a wider retaliation for Russian interference in the U.S. election and what the Treasury described as its “malign activity around the globe.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak
Keywords: news, cnbc, companies, place, impossible, way, improve, treasury, deripaska, flexing, muscle, sanctions, russian, wider, moscow, relations, west, usrussia


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Putin ally Deripaska explains why he’s suing US Treasury Department

Oleg Deripaska, a Russian billionaire known to have ties to the government of President Vladimir Putin, said on Sunday he would fight the U.S. government in court for “weaponizing the financial system” against him. The metals tycoon launched a lawsuit against the U.S. Treasury Department on Friday, in an attempt to cast off sanctions placed on him last year. “I personally was taken in this step by full surprise, and I hope that sooner or later people will recognize it is wrong,” Deripaska said.


Oleg Deripaska, a Russian billionaire known to have ties to the government of President Vladimir Putin, said on Sunday he would fight the U.S. government in court for “weaponizing the financial system” against him. The metals tycoon launched a lawsuit against the U.S. Treasury Department on Friday, in an attempt to cast off sanctions placed on him last year. “I personally was taken in this step by full surprise, and I hope that sooner or later people will recognize it is wrong,” Deripaska said.
Putin ally Deripaska explains why he’s suing US Treasury Department Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak, -timothy ash, senior emerging markets strategist, bluebay asset management
Keywords: news, cnbc, companies, wrong, department, surprise, vladimir, ally, deripaska, suing, personally, yearon, hes, explains, sanctions, launched, worse, weaponizing, putin, treasury


Putin ally Deripaska explains why he's suing US Treasury Department

Oleg Deripaska, a Russian billionaire known to have ties to the government of President Vladimir Putin, said on Sunday he would fight the U.S. government in court for “weaponizing the financial system” against him.

The metals tycoon launched a lawsuit against the U.S. Treasury Department on Friday, in an attempt to cast off sanctions placed on him last year.

On Sunday he told CNBC’s Geoff Cutmore in Moscow that he launched the suit to clear his name, and he denied that the Kremlin encouraged his legal action against the sanctions. He expressed surprise at U.S. actions against him.

“I personally was taken in this step by full surprise, and I hope that sooner or later people will recognize it is wrong,” Deripaska said.

“It is getting worse and worse,” he said. “Last hearing in Congress, when people start blaming me personally for any sort of things which I had no connection … (it is) just fantasy.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: sam meredith, natasha turak, -timothy ash, senior emerging markets strategist, bluebay asset management
Keywords: news, cnbc, companies, wrong, department, surprise, vladimir, ally, deripaska, suing, personally, yearon, hes, explains, sanctions, launched, worse, weaponizing, putin, treasury


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Oleg Deripaska calls allegations over ties with Paul Manafort ‘very absurd’

Russian tycoon Oleg Deripaska said in response to U.S. allegations against him that his relations with Paul Manafort, President Donald Trump’s one-time campaign manager, ended “seven or eight years ago.” Deripaska came under scrutiny in the United States for his ties to Manafort, with whom he had numerous business dealings. In an exclusive interview with CNBC’s Geoff Cutmore in Moscow, Deripaska called U.S. allegations against him “very absurd” and claimed that his name and brand were used since


Russian tycoon Oleg Deripaska said in response to U.S. allegations against him that his relations with Paul Manafort, President Donald Trump’s one-time campaign manager, ended “seven or eight years ago.” Deripaska came under scrutiny in the United States for his ties to Manafort, with whom he had numerous business dealings. In an exclusive interview with CNBC’s Geoff Cutmore in Moscow, Deripaska called U.S. allegations against him “very absurd” and claimed that his name and brand were used since
Oleg Deripaska calls allegations over ties with Paul Manafort ‘very absurd’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: spriha srivastava, natasha turak
Keywords: news, cnbc, companies, used, paul, campaign, response, ties, calls, deripaska, absurd, president, oleg, russian, manafort, allegations, department, brand


Oleg Deripaska calls allegations over ties with Paul Manafort 'very absurd'

Russian tycoon Oleg Deripaska said in response to U.S. allegations against him that his relations with Paul Manafort, President Donald Trump’s one-time campaign manager, ended “seven or eight years ago.”

The Russian businessman, an associate of President Vladimir Putin, on Friday filed suit against the U.S. Treasury Department in an attempt to get rid of sanctions placed on him last year as part of Washington’s response to Russian interference in the U.S. 2016 elections.

Deripaska came under scrutiny in the United States for his ties to Manafort, with whom he had numerous business dealings.

In an exclusive interview with CNBC’s Geoff Cutmore in Moscow, Deripaska called U.S. allegations against him “very absurd” and claimed that his name and brand were used since he is “successful.”

“Yes they used my brand. I am successful, from Russia. I know a lot of people. Channels like you are interested in my opinion on politics, economy. They branded me,” Deripaska said.

Court filings have revealed that Manafort was deeply indebted to the Russian billionaire, whom the U.S. put on a list of “Designated Russian Oligarchs” last April.

Manafort reportedly used his position in the Trump campaign to try and resolve his debt problems with Deripaska, offering him “private briefings” about the progress of the campaign, according to 2016 emails shared with investigators.

Deripaska denies that he ever received such an offer from Manafort.

He told CNBC Sunday that now he is waiting to hear how the U.S. will respond, saying “Justice Department will present facts, and I hope they will not hide behind national interests.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: spriha srivastava, natasha turak
Keywords: news, cnbc, companies, used, paul, campaign, response, ties, calls, deripaska, absurd, president, oleg, russian, manafort, allegations, department, brand


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Saudi Arabia’s stock exchange makes its debut on global emerging markets indexes

Saudi Arabia’s stock exchange, the Tadawul, took its first step Monday of inclusion in two major international indexes: the FTSE Russell and S&P Dow Jones’ emerging markets indices. The inclusion marks a continuation of efforts by the Saudi kingdom to open up its market to international investors, Tadawul CEO Khalid Abdullah al-Hussan told CNBC’s Hadley Gamble in Riyadh. “We haven’t seen any turbulence on inflows of cash for the first tranche of FTSE and it was very smooth by both the sellers an


Saudi Arabia’s stock exchange, the Tadawul, took its first step Monday of inclusion in two major international indexes: the FTSE Russell and S&P Dow Jones’ emerging markets indices. The inclusion marks a continuation of efforts by the Saudi kingdom to open up its market to international investors, Tadawul CEO Khalid Abdullah al-Hussan told CNBC’s Hadley Gamble in Riyadh. “We haven’t seen any turbulence on inflows of cash for the first tranche of FTSE and it was very smooth by both the sellers an
Saudi Arabia’s stock exchange makes its debut on global emerging markets indexes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: natasha turak, simon dawson bloomberg getty images
Keywords: news, cnbc, companies, debut, stock, alhussan, inclusion, saudi, investors, global, makes, exchange, emerging, markets, arabias, inflows, international, market, tadawul, ftse, indexes


Saudi Arabia's stock exchange makes its debut on global emerging markets indexes

Saudi Arabia’s stock exchange, the Tadawul, took its first step Monday of inclusion in two major international indexes: the FTSE Russell and S&P Dow Jones’ emerging markets indices.

The inclusion marks a continuation of efforts by the Saudi kingdom to open up its market to international investors, Tadawul CEO Khalid Abdullah al-Hussan told CNBC’s Hadley Gamble in Riyadh.

“We haven’t seen any turbulence on inflows of cash for the first tranche of FTSE and it was very smooth by both the sellers and as well as the buyers, which in my opinion confirmed the confidence of international investors to participate in the Saudi markets and the regulatory framework of the Saudi capital market,” al-Hussan said.

Al-Hussan expects this inclusion to bring in around $15 billion in passive inflows across the indices, adding that calculating the expected active funds is more challenging.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: natasha turak, simon dawson bloomberg getty images
Keywords: news, cnbc, companies, debut, stock, alhussan, inclusion, saudi, investors, global, makes, exchange, emerging, markets, arabias, inflows, international, market, tadawul, ftse, indexes


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Algerian protesters win historic victory — but massive challenges remain

Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million. Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, a


Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million. Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, a
Algerian protesters win historic victory — but massive challenges remain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: natasha turak, farouk batiche, picture alliance via getty images, canal algerie, afp, getty images, -anthony skinner, mena politics director, verisk maplecroft
Keywords: news, cnbc, companies, country, historic, reelection, massive, victory, oil, question, bid, fifth, continued, protests, remain, algerian, protesters, challenges, statement, president, win


Algerian protesters win historic victory — but massive challenges remain

Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million.

But a giant question mark now hangs over what happens next, leaving Algerians and investors alike — particularly those in the oil and gas sector — mired in uncertainty.

“There will be no fifth term,” a statement from 82-year-old President Abdelaziz Bouteflika, who is in his 20th year in power but has rarely been seen in public since suffering a stroke in 2013, said on Monday.

Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, and the working class.

“There was never any question of it for me,” the president’s statement continued. “Given my state of health and age, my last duty towards the Algerian people was always contributing to the foundation of a new Republic.”

Algeria’s general election, scheduled for April 18, has now been postponed. But demonstrations continued this week in Algerian cities as protesters read Bouteflika’s concession as simply a maneuver to prolong his presidency.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: natasha turak, farouk batiche, picture alliance via getty images, canal algerie, afp, getty images, -anthony skinner, mena politics director, verisk maplecroft
Keywords: news, cnbc, companies, country, historic, reelection, massive, victory, oil, question, bid, fifth, continued, protests, remain, algerian, protesters, challenges, statement, president, win


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Brexit is an ‘unmitigated disaster’ that has damaged UK investment, former Barclays chair says

Brexit has shattered the U.K.’s image as a place for investment, the former chairman of one of the country’s biggest banks said Monday. A second referendum on whether the U.K. should leave the EU may be inevitable, Gerald Grimstone, who served as chairman of Barclays, warned ahead of crucial Parliament votes this week on Prime Minister Theresa May’s Brexit deal. “Brexit is completely unpredictable for the U.K. … I think it’s been an unmitigated disaster for the U.K., and in the short term, it’


Brexit has shattered the U.K.’s image as a place for investment, the former chairman of one of the country’s biggest banks said Monday. A second referendum on whether the U.K. should leave the EU may be inevitable, Gerald Grimstone, who served as chairman of Barclays, warned ahead of crucial Parliament votes this week on Prime Minister Theresa May’s Brexit deal. “Brexit is completely unpredictable for the U.K. … I think it’s been an unmitigated disaster for the U.K., and in the short term, it’
Brexit is an ‘unmitigated disaster’ that has damaged UK investment, former Barclays chair says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: natasha turak
Keywords: news, cnbc, companies, votes, disaster, unpredictable, week, barclays, uk, damaged, grimstone, investment, way, brexit, warned, chair, chairman, wordsbrexit, unmitigated


Brexit is an 'unmitigated disaster' that has damaged UK investment, former Barclays chair says

Brexit has shattered the U.K.’s image as a place for investment, the former chairman of one of the country’s biggest banks said Monday.

A second referendum on whether the U.K. should leave the EU may be inevitable, Gerald Grimstone, who served as chairman of Barclays, warned ahead of crucial Parliament votes this week on Prime Minister Theresa May’s Brexit deal. And he didn’t mince his words.

“Brexit is completely unpredictable for the U.K. … I think it’s been an unmitigated disaster for the U.K., and in the short term, it’s made the U.K. almost uninvestable,” Grimstone told CNBC’s Dan Murphy at the Global Financial Forum in Dubai Monday. “We have two contrasting scenarios before us, and nobody knows which way we’re going to go.”


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: natasha turak
Keywords: news, cnbc, companies, votes, disaster, unpredictable, week, barclays, uk, damaged, grimstone, investment, way, brexit, warned, chair, chairman, wordsbrexit, unmitigated


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Global investing mogul Mark Mobius says Theresa May ‘has got to go’

Global investing maven Mark Mobius had unforgiving words for the U.K.’s leadership ahead of crucial Brexit votes this week. Speaking to CNBC at the Global Financial Forum in Dubai, the asset management mogul said it was Prime Minister Theresa May’s time to depart. “I think May has got to go,” Mobius, founder of emerging markets fund Mobius Capital Partners, said Monday. “I definitely think she’s against Brexit — she was in the beginning. Since becoming head of government, however, she has pledge


Global investing maven Mark Mobius had unforgiving words for the U.K.’s leadership ahead of crucial Brexit votes this week. Speaking to CNBC at the Global Financial Forum in Dubai, the asset management mogul said it was Prime Minister Theresa May’s time to depart. “I think May has got to go,” Mobius, founder of emerging markets fund Mobius Capital Partners, said Monday. “I definitely think she’s against Brexit — she was in the beginning. Since becoming head of government, however, she has pledge
Global investing mogul Mark Mobius says Theresa May ‘has got to go’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: natasha turak, richard brian
Keywords: news, cnbc, companies, global, say, think, minister, uks, prime, leadership, mobius, union, investing, brexit, theresa, mogul, mark


Global investing mogul Mark Mobius says Theresa May 'has got to go'

Global investing maven Mark Mobius had unforgiving words for the U.K.’s leadership ahead of crucial Brexit votes this week.

Speaking to CNBC at the Global Financial Forum in Dubai, the asset management mogul said it was Prime Minister Theresa May’s time to depart.

“I think May has got to go,” Mobius, founder of emerging markets fund Mobius Capital Partners, said Monday. “I think she doesn’t have the leadership capability. You’ve got to have somebody who is going to be willing to say what she thinks, personally, and lead and say ‘Look, I don’t believe in Brexit, and we should change.”

“I definitely think she’s against Brexit — she was in the beginning. I’m sure now it’s even more.”

Indeed, the embattled prime minister quietly supported remaining in the European Union before the June 2016 Brexit vote, warning of adverse effects to the U.K.’s economy, security and even its union with Scotland. Since becoming head of government, however, she has pledged to “honor the results of the referendum,” reiterating that “Brexit means Brexit.”

The U.K. is scheduled to leave the EU on March 29.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: natasha turak, richard brian
Keywords: news, cnbc, companies, global, say, think, minister, uks, prime, leadership, mobius, union, investing, brexit, theresa, mogul, mark


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How cash-strapped Pakistan could get sucked into Saudi-Iran rivalry

“I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation… but they have to do something for that Saudi money.” “Mohammed bin Salman has this strategic view that you’ve got to pressure Iran. And with Pakistan, he’d love to be able to pressure Iran from two sides,” Gregory Gause, head of the International Affairs Department at Texas A&M University, told CNBC. “I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation,” Gause s


“I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation… but they have to do something for that Saudi money.” “Mohammed bin Salman has this strategic view that you’ve got to pressure Iran. And with Pakistan, he’d love to be able to pressure Iran from two sides,” Gregory Gause, head of the International Affairs Department at Texas A&M University, told CNBC. “I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation,” Gause s
How cash-strapped Pakistan could get sucked into Saudi-Iran rivalry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: natasha turak, aamir qureshi, afp, getty images, handout, senate of pakistan, prime ministry of pakistan, anadolu agency, -gregory gause, international affairs department head
Keywords: news, cnbc, companies, iranian, tehran, saudi, sucked, militants, think, iran, saudiiran, pakistanis, pakistan, cashstrapped, rivalry, sunni, pressure


How cash-strapped Pakistan could get sucked into Saudi-Iran rivalry

“I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation… but they have to do something for that Saudi money.”

“Mohammed bin Salman has this strategic view that you’ve got to pressure Iran. And with Pakistan, he’d love to be able to pressure Iran from two sides,” Gregory Gause, head of the International Affairs Department at Texas A&M University, told CNBC.

That presents a hard choice for the Pakistanis, who currently neither see Iran as a major ally nor a major threat, though they are wary of Iran’s increasing cooperation with their own arch-rival, India.

“I don’t think the Pakistanis want to declare Iran an enemy and have a full-on confrontation,” Gause said, “but they have to do something for that Saudi money.”

And the Iranians aren’t taking it lightly — Tehran has long accused Saudi Arabia of fomenting unrest in its border area with Pakistan, which is home to Iranian Sunni anti-regime militants who have launched numerous attacks on Iranian military personnel. The Saudis deny the accusations.

In February, Sunni militants from the extremist group Jaish al-Adl killed 27 Iranian Revolutionary Guards along the border, triggering the accusation from Tehran that Pakistan is housing militants and allowing them to attack Iran.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: natasha turak, aamir qureshi, afp, getty images, handout, senate of pakistan, prime ministry of pakistan, anadolu agency, -gregory gause, international affairs department head
Keywords: news, cnbc, companies, iranian, tehran, saudi, sucked, militants, think, iran, saudiiran, pakistanis, pakistan, cashstrapped, rivalry, sunni, pressure


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UAE climate minister outlines top threats as Abu Dhabi hosts the Middle East’s first Ocean Summit

Abu Dhabi is hosting the sixth annual World Ocean Summit this week, drawing attention to the efforts the small Gulf emirate is making to combat climate change and the growing threat it poses to the region. It’s the first time the event, part of the Economist Group’s World Ocean Initiative, is being hosted in the Middle East, a region known more for its fossil fuel industry than its environmental advocacy. Thani Al Zeyoudi, the United Arab Emirates’ minister of climate change and environment, wan


Abu Dhabi is hosting the sixth annual World Ocean Summit this week, drawing attention to the efforts the small Gulf emirate is making to combat climate change and the growing threat it poses to the region. It’s the first time the event, part of the Economist Group’s World Ocean Initiative, is being hosted in the Middle East, a region known more for its fossil fuel industry than its environmental advocacy. Thani Al Zeyoudi, the United Arab Emirates’ minister of climate change and environment, wan
UAE climate minister outlines top threats as Abu Dhabi hosts the Middle East’s first Ocean Summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: natasha turak, deagostini, getty images
Keywords: news, cnbc, companies, worlds, summit, threats, gulf, dhabi, change, outlines, region, event, middle, uae, easts, minister, work, climate, hosts, zeyoudi, ocean, world


UAE climate minister outlines top threats as Abu Dhabi hosts the Middle East's first Ocean Summit

Abu Dhabi is hosting the sixth annual World Ocean Summit this week, drawing attention to the efforts the small Gulf emirate is making to combat climate change and the growing threat it poses to the region.

It’s the first time the event, part of the Economist Group’s World Ocean Initiative, is being hosted in the Middle East, a region known more for its fossil fuel industry than its environmental advocacy.

Thani Al Zeyoudi, the United Arab Emirates’ minister of climate change and environment, wants to change that image. He’s lauded the event as proof that his country, and the wider Gulf region, can play a leading role in combating threats to the world’s seas.

“We’re sending a message to the region and the world that the ocean has been and will continue always to be an integral part of our economy and our society,” he told CNBC’s Dan Murphy Tuesday, emphasizing the event’s theme of “building bridges.”

“Governments cannot do it alone, NGOs (non-governmental organization) cannot do it alone. We have to work together and we have to bring the private sector on board with us.”


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: natasha turak, deagostini, getty images
Keywords: news, cnbc, companies, worlds, summit, threats, gulf, dhabi, change, outlines, region, event, middle, uae, easts, minister, work, climate, hosts, zeyoudi, ocean, world


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China won’t judge you: Why Saudi Arabia’s crown prince is betting billions on Asia

Saudi Arabia is aggressively expanding its international relationships, and that will have inevitable consequences for the United States and its influence in the country. A high-profile tour by Crown Prince Mohammed bin Salman last month culminated in pledges of $20 billion worth of investment in longtime partner Pakistan, $28 billion in economic accords with China and an open-ended goal to invest $100 billion in India, along with promises of increased trade and security cooperation. In a post-K


Saudi Arabia is aggressively expanding its international relationships, and that will have inevitable consequences for the United States and its influence in the country. A high-profile tour by Crown Prince Mohammed bin Salman last month culminated in pledges of $20 billion worth of investment in longtime partner Pakistan, $28 billion in economic accords with China and an open-ended goal to invest $100 billion in India, along with promises of increased trade and security cooperation. In a post-K
China won’t judge you: Why Saudi Arabia’s crown prince is betting billions on Asia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: natasha turak, lintao zhang, getty images, -hasnain malik, global head of equity research, strategy, exotix capital
Keywords: news, cnbc, companies, worth, arabias, billion, working, asia, wont, washington, arabia, security, judge, crown, saudi, china, longtime, billions, prince, world, betting, trade, economic


China won't judge you: Why Saudi Arabia's crown prince is betting billions on Asia

Saudi Arabia is aggressively expanding its international relationships, and that will have inevitable consequences for the United States and its influence in the country.

A high-profile tour by Crown Prince Mohammed bin Salman last month culminated in pledges of $20 billion worth of investment in longtime partner Pakistan, $28 billion in economic accords with China and an open-ended goal to invest $100 billion in India, along with promises of increased trade and security cooperation.

In a post-Khashoggi world — where Riyadh’s longtime bond with its foremost security ally, Washington, faced its biggest crisis in years over human rights issues — the kingdom is working to ensure it has a range of options at its disposal.

Saudi Arabia also needs a survival strategy: With falling oil prices and a highly fossil-fuel dependent economy, it’s racing against the clock to diversify its revenue streams and bolster partnerships with larger powers to secure trade and security alliances. This pursuit is set to continue with help from the U.S., but it will also foster greater engagement with the East — both for economic and geopolitically strategic aims.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: natasha turak, lintao zhang, getty images, -hasnain malik, global head of equity research, strategy, exotix capital
Keywords: news, cnbc, companies, worth, arabias, billion, working, asia, wont, washington, arabia, security, judge, crown, saudi, china, longtime, billions, prince, world, betting, trade, economic


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