6 minutes agoProblems for Saudi Arabia Trump, Emirates, and Qatar review trillion U.S. investments
Periskopi(4 months ago)
(4 months ago)Some of the US President's rich oil allies Donald Trump in the Arabian Gulf are reviewing their investments abroad, while the Iran war is putting their economies under pressure, said a Gulf official, just months after the president provided trillion-dollar investment promises from the region. Saudi Arabia, Emirates of [...]
Saudi Arabia, the United Arab Emirates and Qatar jointly promised to invest about $3 trillion in the American economy when Trump visited the region on his first trip abroad last year, and any change could pressure him to end the war.
“A number of” countries in the region have launched an internal revision to determine whether extraordinary forces clauses in foreign contracts can be used to ease some of the economic strains predicted by the war in Iran, the official told CNN.
The official said the change reflects increased budgetary pressures caused by energy revenues due to slow production and export cuts, decreased tourism and aviation, and increased defence spending.
CNN cannot confirm which countries are reviewing their investments, but has contacted the foreign ministries of the United Arab Emirates, Qatar and Saudi Arabia for comments, reports Telegraph, broadcast Periscope.
The news some Gulf states were reviewing their investments for the first time was reported by the Financial Times, which quoted an official as saying that three out of the four major economies in the region of Saudi Arabia, the United Arab Emirates, Kuwait and Qatar were praising such movements. But the official refused to reveal who they were. /Periscope
