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arabnews | Saudi foreign minister arrives in Russia for BRICS meeting, 10 June
Prince Faisal met with Lavrov on the sidelines of the meeting on Monday and also held talks with Yvan Eduardo Gil Pinto of Venezuela on the same day.
Hajj 14-19 June 2024
spa.gov.sa | HRH the Crown Prince Sends Regrets, 12 June
to Giorgia Meloni, Prime Minister of the Italian Republic for the kind invitation that he received to participate in the communication session of the G7 summit, which will be held in the Italian Republic on June 14, 2024, corresponding to 8 Thu Al-Hijjah 1445(H). The cable included HRH's regret for not being able to participate due to commitments related to overseeing the works of the Hajj season. HRH emphasized the depth of the relationship between the Kingdom of Saudi Arabia and the friendly Italian Republic, and he wished success for the summit's proceedings
ChatGPT dpa | Ukraine's Zelensk* visits Saudi Arabia ahead of Swiss peace talks, 12 June
Saudi Arabia does not want want to take part in the June 15-16 [Global Peace] conference as Russia will not attend, sources® in Riyadh said earlier this month on condition of anonymity
arabnews | Pope Francis to weigh in on 'ethical' [computer programming] at G7 summit, 13 June
..."The Church always looks to humans as the center of its mission," said Paolo Benanti, a Franciscan university professor and member of the UN's [computer programming] advisory body, who directly advises the pope. "From this perspective it is clear that the [computer programming] that interests the Church is not the technical tool, but how the tool can impact on the life of man," he told AFP....
indiatoday | PM Modi leaves for Italy, to meet world leaders tomorrow, 14 June
and is expected to arrive in Apulia later tonight. During the ["G7 Outreach"] summit, which is likely to be dominated by the raging war in Ukraine and the conflict in Gaza, India will focus on ["Outreach session"] issues such as [computer programming], energy, Africa [?], and the Mediterranean region. PM Modi is likely to hold bilateral meetings with a number of world leaders, including US President Joe Biden, Italy's Giorgia Meloni and others, attending the outreach session of the G7 summit. In a departure statement, PM Modi said issues crucial for the Global South will also be deliberated upon at the outreach session.
by Cat on Thu Jun 13th, 2024 at 10:45:37 PM EST
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nasdaq | U.S-Saudi Petrodollar Pac Ends after 50 Years, 11 June G7 de-industrialization
The "petrodollar" agreement, formalized after the 1973 [OPEC EMBARGO] stipulated that Saudi Arabia would price its oil exports exclusively in U.S. dollars and invest its surplus oil revenues in U.S. Treasury bonds. In return, the U.S. provided military support and protection to the kingdom.
The global demand for dollars to purchase oil has helped to keep the currency strong, making imports relatively cheap for American consumers. Additionally, the influx of foreign capital into U.S. Treasury bonds has supported low interest rates and a robust bond market.
The agreement between the U.S. and Saudi Arabia expired on June 9, 2024. This expiration has far-reaching implications, as it has the potential to disrupt the global financial order.
archive to get a mega-deal with Saudi Arabia, price-taker's guide to the galaxy,  KSA enjoys market power in New Trade and Security, The Embargo That Must Not be Named, So what really happened in the 70s?
by Cat on Fri Jun 14th, 2024 at 10:33:31 PM EST
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osu.edu | The Yom Kippur War and the OPEC Oil Embargo
Operation Nickel Grass
history.state.gov | Oil Embargo, 1973-1974
Project Independence
Initially, Secretary of Defense James Schlesinger suggested to Kissinger that the USA invade Saudi Arabia and another Arab countries and seize their oil fields. Kissinger stated in a private state department meeting that it's "ridiculous that the civilized world is held up by 8 million savages... Can't we overthrow one of the sheikhs just to show that we can do it?" They formed a plan to invade Abu Dhabi, Kuwait, and Saudi Arabia. Kissinger publicly threatened "countermeasures" in a Nov 21st, 1973 press conference if the embargo was not lifted, and the Saudis responded with threatening further oil cuts and to burn their oil fields if the US military invaded. After the CIA confirmed these threats, Kissinger gave up military intervention and decided that dealing with Israel's troop withdrawals and settled on diplomatic solutions to the oil embargo.
state.gov | Second Arab Oil Embargo, 1973-1974he United States announced Project Independence to promote domestic energy independence. It also engaged in intensive diplomatic efforts among its allies, promoting a consumers' union that would provide strategic depth and a consumers' cartel to control oil pricing. Both of these efforts were only partially successful. The Nixon Administration also began a parallel set of negotiations with Arab oil producers to end the embargo, and with Egypt, Syria, and Israel to arrange an Israeli pull back from the Sinai and the Golan Heights.
On November 7, 1973, Kissinger flew to Riyadh to meet King Faisal and ask him to end the oil embargo in exchange for promising to be "evenhanded" with the Arab-Israeli dispute.
energyhistory.eu | Oil, dollars, and US power in the 1970s
The US government played its cards skillfully: on 8 June, at a ceremony in Washington DC, Secretary of State Henry Kissinger and Crown Prince Fahd signed before cameras a framework agreement for the creation of two joint US-Saudi commissions (an economic one, and a military one), aimed at the promotion of Saudi investments in the US in exchange for US cooperation in technology and in the modernization of Saudi Arabia's armed forces.41
41. "'Milestone' pact is signed by US and Saudi Arabia", New York Times, 9.6.1974. The importance of Saudi investments in the US was repeatedly stressed in the correspondence between the two sides throughout 1975: USNA, RG 56, Chronological files of Gerald Parsky, 1975-1976, FRC 1.
Only on March 18, 1974 did the king end the oil embargo after Sadat, whom he trusted, reported to him that the United States was being more "evenhanded" and after Kissinger had promised to sell Saudi Arabia weapons that it had previously denied under the grounds that they might be used against Israel. More important, Saudi Arabia had billions of dollars invested in western banks, and the massive bout of inflation set off by the oil embargo was a threat to this fortune as inflation eroded the value of the money, giving Faisal a vested interest in helping to contain the damage he himself inflicted on the economies of the West.
history.state.gov | Shuttle Diplomacy and the Arab-Israeli Dispute*, 1974-1975
...With Jordan no longer in a position to press the United States for a negotiation with Israel, and Israel unwilling to talk with the PLO, Sadat convinced President Ford and Kissinger that they should spend 1975 pushing for a second agreement between Israel and Egypt over the Sinai. Unlike Sinai I, however, negotiations for this second agreement proved far more challenging and lasted several months....
"Democracy Shield"
Reports of the petrodollar system's demise are 'fake news'—here's why, 15 June
[1] Almost immediately, Google searches for the term "petrodollar" spiked to the highest level on record dating back to 2004 < wipes tears > according to Google Trends data.

[2] According to UBS Global Wealth Management chief economist Paul Donovan a formal agreement demanding that Saudi Arabia price its crude oil in dollars never existed. Rather, Saudi Arabia continued accepting other currencies—most notably the British pound for its oil even after the 1974 agreement on joint economic cooperation was struck. It wasn't until later that year that the Kingdom stopped accepting the pound as payment.

[3] Perhaps the closest thing to a petrodollar deal was a secret agreement between the U.S. and Saudi Arabia reached in late 1974, which promised military aid and equipment in exchange for the Kingdom investing billions of dollars of its oil-sales proceeds in U.S. Treasurys, Donovan said. The existence of this agreement < wipes tears > wasn't revealed until 2016, when Bloomberg News filed a Freedom of Information Act request with the National Archives.

[4] "The evidence for any kind of conspiracy is thin to nonexistent," Eurasia Group analyst Gregory Brew told MarketWatch in an interview on Friday. "There is a very clear record of both the Americans and the Saudis being concerned in the aftermath of the global oil shock of what Saudi surpluses would do to the global economy."

by Cat on Sat Jun 15th, 2024 at 02:04:59 PM EST
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ALKHOSHID @ 21:57: Dimitry, the United States—this new movement on the part of the Unitates in the Middle Eas—is in the new article in Wall Street Journal. It says that it seems the United States is offering Saudia Arabia a formal defese treaty in return for normalizing with Israel and vowing to distance itself from China and prohibit Chinese bases. Do you think that at the end of the day they would convince Saudi Arabia to do that?
ORLOV: Well, I think that the idea of the United States offering some kind of a security deal to Saudi Arabia is eliciting peals of laughter from the Saudis. The United States can't pretend to protect anyone, not its military bases in Iraq or Syria, not Israel. If Iran wants to attack Israel using hypersonic weapons, the United States is powerless to stop it. The United States has completely failed to provide Saudi oil installations [defense] from Houthi attacks, and the Houtis are commonly portrayed with this sort of stone-age people, if you will, but for some reason they're better militarily than the United Sates at this point, to the point of being able to attack American aircraft carriers.
dodig.mil | Audit of the DoD's Revaluation of the Support Provided to Ukraine Through Presidential Drawdown Authority (Report No. DODIG‑2024‑095), 11 June
by Cat on Sat Jun 15th, 2024 at 01:01:30 PM EST
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We recognize the impact of AI on the military domain and the need for a framework for responsible development and use. We welcome those who have endorsed the Political Declaration on Responsible Military Use of AI and Autonomy (REAIM) and the REAIM Call to Action, and we encourage more States to do so to ensure that military use of AI is responsible, complies with applicable international law, particularly international humanitarian law, and enhances international security. [Apulia G7 Communiqué:23]
To speak of technology is to speak of what it means to be human and thus of our singular status as beings who possess both freedom and responsibility. This means speaking about ethics. [Partecipazione del Santo Padre Francesco al G7 a Borgo Egnazia]
There are a number of reasons why the discussion of the right or the ability to judge touches on the most important moral issue. Two things are involved here: First, how can I tell right from wrong, if the majority or my whole environment has prejudged the issue? Who am I to judge? And second, to what extent, if at all, can we judge past events or occurances at which we were not present? As to the latter, it seems glaringly obvious that no historiography and no courtroom procedure would be possible at all if we denied ourselves this capability. One might go a step further and maintain that there are very few instances in which, in using our capacity to judge, we do not judge by hindsight, and again this is equally true of the historiographer as it is of the trial judge, who may have good reasons to mistrust eyewitness accounts or the judgment of those who were present. [Responsibility and Judgment (2003):19]

by Cat on Mon Jun 17th, 2024 at 11:48:50 PM EST
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