Are We On The Verge Of A U.S. -- Saudi Arabia Oil Supply War?

Business Insider: Saudi Arabia could 'flush' the oil market with a flood of supply to regain control over prices in the face of rising US production, crude expert says 

* Saudi Arabia may "flush" the market with a flood of supply that would sink prices, an expert said. 

* That comes as OPEC+ concluded its latest meeting where members pledged voluntary production cuts without giving firm commitments. 

* Meanwhile, US crude output has been on a tear this year, hitting new record highs. 

Saudi Arabia may flood the market with more oil supplies, reversing its production curbs, as the world's top crude exporter tries to regain control of prices, an energy market veteran said. 

That comes as OPEC+ concluded its latest meeting where members pledged voluntary production cuts without giving firm commitments, prompting oil prices to fall. 

"We've more or less been saying potentially Saudi needs to just flush this thing out," Paul Sankey from Sankey Research told CNBC on Friday.  

Read more ....  

Update: Saudi Arabia is struggling to boost oil prices, raising possibility of supply war with U.S.  

WNU Editor: As oil consumers we are all lucky that high oil prices has resulted in this .... Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears (DNYUZ/New York Times).

Saudi Arabia Considering To Purchase A Large Number Of French-Made Dassault Rafale Fighter Jets

Royal Saudi Air Force F-15Cs fly with US Air Force F-15Cs in June 2019. US Navy/Handout via REUTERS  

Business Insider: A potential first-of-its-kind fighter-jet purchase could be a sign Saudi Arabia isn't happy with what it's getting from the US 

* Saudi Arabia is reportedly considering a large number of French-made Dassault Rafale fighter jets. 

* Such a purchase would be a break from Saudi Arabia's long history of buying US and British jets. 

* This suggests Riyadh doesn't think its traditional partners will be as reliable in the future. 

Saudi Arabia has spent decades building an enormous air force composed exclusively of advanced US and British fighter jets. 

But Riyadh's reported interest in potentially purchasing a large number of French jets may be a sign it doesn't think its longtime patrons are as reliable as before. 

In December, France's La Tribune financial newspaper, citing unnamed sources, reported that Saudi Arabia was considering acquiring 100 to 200 Dassault Rafale fighters. The report came amid developments suggesting that the US and other nations might not provide military equipment to Riyadh in the future. 

Read more ....

WNU Editor: Saudi Arabia is clearly sending a message to London and Washington. If you do not want to work with us, we will find other suppliers.

Human Rights Watch: Hundreds Of Migrants Killed By Saudi Border Guards

A Red Sea map shows migration route from Ethiopia to Saudi Arabia through Yemen, in this handout photo released on August 21, 2023. Human Rights Watch/Handout via REUTERS  

The Guardian: ‘Fired on like rain’: Saudi border guards accused of mass killings of Ethiopians 

Report by Human Rights Watch details alleged attacks using explosive weapons and small arms on Saudi Arabia-Yemen border 

Saudi border guards have been accused of killing hundreds of Ethiopians using small arms and explosive weapons in a targeted campaign that rights advocates suggest may amount to a crime against humanity. 

The shocking claims are made in a detailed investigation by Human Rights Watch, which interviewed dozens of Ethiopian people who said they were attacked by border guards while they tried to cross into Saudi Arabia from Yemen.  

Read more .... 

Human Rights Watch: Hundreds Of Migrants Killed By Saudi Border Guards 

Human rights group says Saudi Arabia border guards fired on and killed hundreds of Ethiopian migrants -- AP  

Saudi Border Guards Killed Hundreds of Ethiopian Migrants, HRW Says -- Reuters  

"They fired on us like rain": Saudi border guards killed hundreds of Ethiopian migrants, Human Rights Watch says - AFP  

Hundreds of migrants killed by Saudi border guards - report -- BBC  

Saudi forces killed hundreds of Ethiopians at Yemen border, report says -- Washington Post 

Saudi Arabia border guards ‘regularly open fire on migrants and have killed hundreds’ - report -- Evening Standard 

Saudi guards killed hundreds of migrants crossing border from Yemen, rights group says -- CNN

Saudi Arabia's Finance Minister Says Riyadh Is Open To Discussions About Conducting Trade In Currencies Other Than The US Dollar

Mohammed Al-Jadaan, Saudi Arabia's finance minister says he is open to discussing how to settle trade arrangements, whether it is in the US dollar, euro or whether it is the Saudi riyal. PHOTO: BLOOMBERG   

Bloomberg: Saudi Arabia Says Open to Settling Trade in Other Currencies 

Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom’s finance minister. 

“There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Mohammed Al-Jadaan told Bloomberg TV on Tuesday in an interview in Davos. 

“I don’t think we are waving away or ruling out any discussion that will help improve the trade around the world,” Al-Jadaan said. 

The world’s largest oil exporter, which has maintained a currency peg to the dollar for decades, is seeking to strengthen its relations with crucial trade partners including China. The kingdom is a pillar a petrodollar system established in the 1970s that relies on pricing crude exports in the US currency.  

Read more ....  

WNU editor: I can hear the alarm bells ringing in Washington over this. Another sign that the era of the Petro-Dollar is coming to an end. 

Saudi Finance Minister Mohammed Al-Jadaan's complete Bloomberg interview is here .... Watch Saudi Finance Minister Talks Global Trade. 

Saudi Arabia's Finance Minister Says Riyadh Is Open To Discussions About Conducting Trade In Currencies Other Than The US Dollar  

Saudi Arabia Is Open To Discuss Non-Dollar Oil Trade Settlements -- OilPrice.com  

Saudi Arabia open to non-dollar trade -- Arabian Business  

Davos 2023: Saudi Arabia 'open' to discuss trading in non-dollar currencies -- Al-Monitor  

Saudi Arabia open to trading in currencies besides the US dollar -- Middle East Monitor

Saudi Arabia Wants Closer Energy Ties With China And India

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman highlighted the importance of regularly exchanging viewpoints as two significant global energy producers and consumers. (File/AFP) 

Bloomberg: Saudi Oil Chief Holds Talks With Counterparts in China and India 

(Bloomberg) -- Saudi Arabia’s energy minister held talks with counterparts from China and India, two of the kingdom’s biggest oil customers, amid a standoff with the US over OPEC+’s decision to cut production. 

Prince Abdulaziz bin Salman held an online meeting with China’s National Energy Administrator Zhang Jianhua, during which they agreed to bolster “the bilateral relationship between the two countries in the field of energy,” according to a joint statement published by the state-run Saudi Press Agency on Friday. 

They will “strengthen co-operation to address emerging risks and challenges,” the statement read. “The kingdom continues to be China’s most reliable partner and supplier of crude oil.”  

Read more ....  

Update #1: Saudi Arabia energy minister, China’s national energy administrator discuss cooperation (Arab News)  

Update #2: Saudis plot energy cooperation with China amid tensions with Biden (Axios)  

WNU Editor: Both China and India are members of Brexit, and Saudi Arabia has made it very clear that they want to join the organization. I see a lot of diplomacy at play right now, and from my perspective Saudi Arabia is doing all the right moves to position itself to join the organization.

On A Visit To Saudi Arabia South African President Cyril Ramaphosa Confirms Reports That The Kingdom Wants To Jon BRICs

South African President Cyril Ramaphosa and Saudi Crown Prince Salman (Saudi Arabia Foreign Ministry)  

Times Now: Ramaphosa confirms Saudi Arabia wants to join Brics family 

Saudi Arabia has expressed its interest in joining the Brics bloc. This was revealed by President Cyril Ramaphosa during his two-day state visit to the kingdom on Sunday. 

“The Crown Prince (prime minister Mohammad bin Salman bin Abdulaziz al Saud) did express Saudi Arabia’s desire to be part of Brics and they are not the only country,” said Ramaphosa. 

He confirmed this on Sunday during an engagement with the media.  

Read more .... 

Update #1: Saudi Arabia expresses desire to join BRICS family (The Citizen) 

Update #2: South African president says Saudi Arabia interested in joining BRICS (Trend News Agency)

WNU Editor: Saudi Crown Prince Salman personally invited the South African President. And unlike President Biden's visit to Saudi Arabia this summer, the Saudis pulled out all the "bells and whistles" for the South African President during his two day state visit to Saudi Arabia. 

A personal observation.

If Russia, a founding member of BRICs, was losing in Ukraine would Saudi Arabia want to join BRICs? Would Turkish President Erdogan want to be a part of Russia's natural gas hub? .... Is A De Facto Russia - Turkey Alliance Taking Shape?  (October 7, 2022). Would India push for joint military projects with Russia? .... India-Russia joint venture hopes for $5 billion in supersonic missile exports by 2025 (Reuters). 

In these situations I always wonder. What do they know that we do not?

Here is an easy prediction. When the Russia - Ukraine war is over, there will be a rush of many non-Western countries to join BRICs. And a decade or two after that, BRICs will be the world's dominant economic bloc, not the G7. 

Saudi Arabia Is Looking To Form New Alliances

Mohammed bin Salman and Joe Biden in Jeddah in July. Photograph: Saudi Royal Court/Reuters  

Martin Chulov, The Guardian: Saudi Arabia is choosing friends on its own terms and Biden is not one of them  

Reactions in Washington to slashing oil supply have not concerned Mohammed bin Salman; nor have the optics of indirectly boosting Putin’s war 

Mohammed bin Salman had seen it coming. The groundswell of anger in Washington was clear and building since he helped lead an Opec+ decision to cut the world’s oil supply last week. 

But for the first time in the modern era of ties between the US and Saudi Arabia, there was no rush to placate hard feelings, or gloss over a rift. This was the birth of a new realpolitik, where nascent Saudi nationalism paid no heed to a historical ally and instead aligned itself to what Riyadh literally sees as a new world order.  

Read more ....  

WNU Editor: We are no longer in a uni-polar world where the US was the dominant power. There are new blocs forming, and countries like Saudi Arabia are looking for new partnerships. 

My prediction. 

Russia is the world's superpower when it comes to resources, so it is natural that Saudi Arabia wants stable relations with Moscow. China is the manufacturing superpower of the world and a major customer for Saudi oil, so it is only natural that Saudi Arabia wants stable relations with Beijing. 

Both China and Russia also have close ties with Iran, a country that Saudi Arabia needs to be contained. What better way to contain Iran by positioning yourself to be able to provide more to China and Russia than what Iran can do.

Saudi Arabia Announces It Will Increase Oil Production Capacity An Additional One Million Barrels By 2027

U.S. President Biden visits Saudi Arabia. © Reuters/EVELYN HOCKSTEIN 

The National: Saudi Arabia: no additional capacity to increase oil production beyond 13 million bpd  

The kingdom said it is targeting production capacity of 13 million bpd by 2027 

Saudi Arabia will not have any additional capacity to increase oil production beyond 13 million barrels per day, Crown Prince Mohammed bin Salman said during his address to the US-Arab summit in Jeddah. 

“The kingdom has announced an increase in its production capacity level to 13 million barrels per day, after which the kingdom will not have any additional capacity to increase production,” he said. 

The kingdom previously said it was aiming at production capacity of 13 million bpd by 2027.  

Read more ....  

WNU Editor: Crown Prince Mohammed bin Salman was very careful on what he was promising. MBS was talking about "Production Capacity" NOT "production" when he mentioned that they will be increasing production capacity to 13 mb/d (from 12 mb/d) by 2027. In other-words. Do not expect any significant Saudi oil production in the near future. 

 Update: This sums up President Biden's trip .... Biden recommits to Middle East, but fails on oil, security (Reuters). Also this .... Biden says Saudis will help lower gas prices — after denying he’d beg for more oil (NYPost) 

Saudi Arabia Announces It Will Increase Oil Production Capacity An Additional One Million Barrels By 2027  

Saudi Arabia agrees to boost oil production after Joe Biden visits kingdom, report says -- Insider  

Saudi Arabia agrees to increase oil production levels, will help 'stabilize markets,' White House says -- FOX News  

Crown Prince MBS hints at increasing Saudi oil production — but not by much -- NYPost  

After Biden Rehabs MbS' Image, Saudis Announce Increase In Oil Production Capacity -- Zero Hedge  

Saudi crown prince says unrealistic energy policies will lead to higher inflation -- Reuters

Is Saudi Arabia's Oil Production At Capacity?

Zero Hedge: Is Saudi Oil Production At Capacity? 

Use it or lose it – this principle might apply to Saudi Arabia’s oil production capacity that is now eyed by the Western world to fill the Russia-sized gap in supply left behind by embargoes. 

However, as Statista's Katharina Buchholz details below, Saudi Arabia in the past three years only approached its declared maximum production capacity of 12 million barrels per day in one month, casting doubts on the kingdom’s ability to quickly up its production to stabilize world markets. According to Bloomberg, such predictions have come from UAE leadership, who together with the Saudis are the only OPEC members who have spare production capacity – at least on paper.  

Read more ....  

WNU Editor: Even if they could .... why whould Saudi Arabia increase oil production? The Kingdom is currently enjoying record earnings from their oil exports. They have no reason to change the status quo.  

Update: Another reason on why Saudi Arabia will not increase oil production .... Joe Biden's Oil Gamble Set to Backfire as Saudi Arabia Sticks With Russia (Newsweek). 

More News On Saudi Arabia's Capacity To Pump More Oil  

Biden's Quest for Saudi Oil Faces Reality-Check of Slim Capacity -- Bloomberg  

Skeptics say Biden’s Saudi visit unlikely to significantly bring down oil prices -- Market Watch  

Will Saudi Arabia Pump More Oil For Biden? -- OilPrice.com  

Biden will push for greater oil output on Mideast trip -Sullivan -- Reuters  

Biden Visits Saudi Arabia This Week. What to Expect From Oil Negotiations. -- Barrons

Saudi Arabia Is Now Making $1B From Oil Exports Every Day

Saudi oil production hit 10.3 million barrels in April. Photo credit should read MARWAN NAAMANI/AFP  

Rigzone/Bloomberg: Saudi Arabia Making $1B From Oil Exports Every Day  

Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. 

The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. 

Saudi Arabia’s crude production rose to 10.3 million barrels a day in March, with Brent oil prices averaging $112 a barrel. Prices have jumped almost 50% this year, mostly due to the fallout of Russia’s invasion of Ukraine. 

The higher revenues helped the kingdom post a 57.5 billion riyal ($15 billion) budget surplus between January and March. It will be one of the fastest-growing large economies in the world this year, according to the International Monetary Fund. 

Read more ....  

Update #1: Saudi Arabia oil exports soared to the most since 2016 in Q1 thanks crude prices above $100 a barrel and higher production (Insider)  

Update #2: Saudi Arabia Tucks Away Billions in Oil Money for Next Year (Bloomberg)  

WNU Editor: I would not be surprised if they will be making more per day in the coming months as oil prices continue to rise.

As Houthi Attacks Escalate Saudi Arabia Is Running Out Of Missiles For Its Air-Defense System

A member of the US Air Force stands near a Patriot missile battery at the Prince Sultan air base in al-Kharj, central Saudi Arabia [File: Andrew Caballero-Reynolds via AP] 

Al Jazeera: Saudi Arabia may run out of interceptor missiles in ‘months’ 

As Houthi rebel attacks escalate, Riyadh has ‘an urgent situation’ as it runs out of missiles for its air-defence system, Financial Times newspaper reports. 

Saudi Arabia could run out of interceptor missiles for its US-made Patriot air-defence system in “months”, according to a senior US official cited by the Financial Times (FT) newspaper, prompting Riyadh to appeal to regional allies for help to replenish the stock. 

“It’s an urgent situation,” the American official said, adding Washington supports the moves to source missiles from Gulf countries as Yemen’s Houthi rebels ramp up their cross-border attacks on the kingdom. 

Read more ....  

WNU Editor: Saudi Arabia is being bombarded by Houthi missile attacks .... Houthis have fired 430 missiles, 851 drones at Saudi Arabia since 2015 - Saudi-led coalition (Reuters). 

Saudi Arabia Is Running Out Of Missiles For Its Air-Defense System  

Saudi Arabia turns to Gulf states to replenish depleted air defences -- FBN/Financial Times  

Saudi Arabia Reportedly Asks Neighbours for Munitions Pending US Approval of Patriot Sales -- Sputnik  

Saudi Arabia asked Gulf states to help replenish stockpile of Patriot missiles amid Houthi attacks: report -- New Arab

Saudi Aramco Warns Of ‘Social Unrest’ If Fossil Fuels Are Replaced Too Quickly

World News Era/Financial Times: Saudi Aramco warns of ‘social unrest’ if fossil fuels ditched too quickly 

The chief executive of Saudi Aramco, the world’s largest oil producer, has called on global leaders to continue investing in fossil fuels in the years ahead or run the risk of spiraling inflation and social unrest that would force them to jettison emissions targets. 

Speaking at the World Petroleum Congress in Houston, Texas, Amin Nasser said there was an assumption that the world could transition to cleaner fuels “virtually overnight”, but that this was “deeply flawed”. 

“I understand that publicly admitting that oil and gas will play an essential and significant role during the transition and beyond will be hard for some,” Nasser told delegates at the WPC, one of the biggest gatherings of oil and gas executives in the world.  

Read more ....  

WNU Editor: You need energy to produce fertilizers. And with high prices for energy being the new normal, the world is facing a serious food crisis .... Global fertilizer crisis may push food prices higher (Farm Progress). If that is not a recipe for social unrest. I then do not know what is.

Former Saudi Spymaster Says Crown Prince Salman Is A Psycopath Who Once Boasted That He Could Kill The Sitting King Using A Poison Ring He Obtained From Russia

Saad Aljabri

Former Saudi spymaster Saad Aljabri says Crown Prince Mohammed bin Salman fears what he knows, including Aljabri’s claim that there was a 2014 meeting in which MBS said he could kill the sitting king using a poison ring he obtained from Russia. https://t.co/mJjPd6NOx3 pic.twitter.com/phmbVBC96w

— 60 Minutes (@60Minutes) October 24, 2021

CBS 60 Minutes: Former Saudi official calls Mohammed bin Salman a "psychopath," says Saudi crown prince fears what he knows  

Saad Aljabri was number two in Saudi intelligence until, he says, Mohammed bin Salman forced him out. Now, MBS is Saudi Arabia's crown prince, and Aljabri is in exile. Aljabri believes the crown prince wants him dead because of what he knows. 

Much of the world was horrified when Saudi Arabia sent a hit squad to Turkey to murder Washington Post columnist Jamal Khashoggi. Tonight, the man you are about to meet says a second Saudi assassination team was sent to kill him in Canada.

Saad Aljabri was number two in Saudi intelligence and he was among the best friends America had against terrorism. Now Saad is asking America's help. 

Truth is hard to triangulate among spies, despots and the Middle East. You're going to hear that Saad Aljabri may not be spotless. But as a spymaster, Saad says he has one more favor for America—a warning about a prince with the power to trouble the world. 

Saad Aljabri: I am here to sound the alarm about a psychopath, killer, in the Middle East with infinite resources, who poses threat to his people, to the Americans and to the planet. 

Saad Aljabri is talking about Mohammed bin Salman who seized power behind the back of Mohammed bin Nayef, then-heir to the throne. But in 2017, Nayef was arrested by Prince Mohammed bin Salman.  

Read more .... 

More News On Former Saudi Spymaster's Claims On Crown Prince Salman  

Saudi crown prince a ‘psychopath’, says exiled intelligence officer -- The Guardian 

Ex-Saudi official claims crown prince said he could get "poison ring from Russia" to kill king -- Axios  

Ex-Saudi intelligence official describes Crown Prince as a 'psychopath' who boasted he could kill the sitting monarch in 2014 -- CNN  

Mohammed bin Salman: Exiled officer says Saudi crown prince is a 'psychopath' -- BBC  

Ex-Saudi intelligence official claims Crown Prince Mohammed Bin Salman sent a hit squad to Canada to assassinate him days after murder of Jamal Khashoggi -- Daily Mail

Saudi Arabia Says It Destroyed Explosives-Laden Drone Boat Targeting The Saudi Port Of Yanbu

Middle East Eye: Saudi Arabia destroys explosive-laden boat near Red Sea port 

Riyadh said it intercepted and destroyed the boat after reports a nearby vessel was damaged 

Saudi Arabia said it destroyed an explosive-laden boat off the Red Sea port of Yanbu following "unconfirmed reports" by maritime security firms of an attack on a vessel in the area. 

The Saudi defence ministry did not specify who was behind the attack nor whether there were any casualties after the Saudi navy attacked the boat on Tuesday. 

"A bomb-laden unmanned (vessel) was intercepted and destroyed this morning," the ministry said in a statement published by the official Saudi Press Agency. 

"Naval units were able to detect and monitor the activity of the bomb-laden (boat) in the Red Sea waters off the shores of Yanbu." 

Read more .... 

WNU Editor: This drone boat must have been launched by another vessel in the area. 

More News On Reports That Saudi Arabia Destroyed An Explosives-Laden Drone Boat Targeting The Port Of Yanbu  

Explosive-laden ‘drone’ boat targets Saudi port of Yanbu -- AP 

Saudi Arabia says it foiled boat attack off Yanbu -- Reuters  

Saudi forces intercept booby-trapped boat in Red Sea near Yanbu port -- Arab News  

Saudi Arabia Destroys Bomb-Laden Boat Off Yanbu in Red Sea -- Bloomberg  

Saudi Arabia says it destroyed explosives-laden attack boat targeting port -- Times Of Israel  

Saudi Arabia says it foiled boat attack off Yanbu port -- Al Jazeera  

Saudi Forces Thwart Bomb Boat Attack at Port of Yanbu -- Maritime Executive

Women In Saudi Arabia Can Now Join The Military

All applicants must have a clean record and be medically fit for service. (Supplied) 

Bloomberg: Saudi Women Can Join Military in Latest Widening of Rights 

Women in Saudi Arabia can now take up arms and enter the military, the latest profession in the kingdom to open up to female recruits. 

Saudi Arabian women can be employed as soldiers, lance corporals, corporals, sergeants, and staff sergeants, according to the Saudi-based Arab News.

Jobs have been gradually opening up for Saudi women, whose increased participation in the workforce is part of Crown Prince Mohammed bin Salman’s plans to transform the Arab world’s largest economy. 

It is now common to see Saudi women working as cashiers in shopping malls and taking up roles that were previously limited to men, such as waiting tables in restaurants and brewing cappuccinos in coffee houses. 

Read more .... 

Update #1: Saudi Arabia opens military recruitment to women (Arab News) 

Update #2: Saudi Arabia allows women to join military (Gulf News) 

WNU Editor: Another sign that the times are changing.

Who Is Still Exporting Arms to Saudi Arabia?

Saudi-backed troops in Yemen rebel a Houthi rebel offensive on the oil-rich city of Marib, on February 14, 2021 (AFP/File photo) 

Middle East Eye: Saudi Arabia arms sales: Which countries are still exporting? 

Following US pause on weapons deals to Riyadh and Abu Dhabi, MEE looks at how other major military exporters have responded 

Three weeks ago, the United States issued a temporary freeze on pending arms sales to Saudi Arabia and the United Arab Emirates, as part of an effort to end the civil war in Yemen.

In one of its first major foreign policy announcements, the new US administration of President Joe Biden paused the implementation of recent Trump-era weapons deals, including the sale of munitions to Saudi Arabia and F-35 fighter jets to the UAE. 

A Saudi-led coalition intervened in Yemen’s civil war in March 2015, and have since carried out more than 20,000 air strikes in an effort to roll back the Houthi rebels, who seized the capital Sanaa in late 2014. One-third of those strikes have been on non-military sites, including schools, factories and hospitals, according to the Yemen Data Project. 

Read more .... 

WNU editor: There will always be countries willing to sell arms to someone who can pay. I know Russia would love to sell arms to Saudi Arabia .... Should Saudi Arabia Buy Russian Weapons? (October 13, 2019)

Saudi Arabia Issues Ultimatum To Foreign Companies To Bring Their Regional HQ Offices Into The Kingdom If They Want Government Contracts

Cars drive past the King Abdullah Financial District in the Saudi capital Riyadh on 18 December 2018 (Reuters) 

Middle East Eye: Saudi Arabia issues ultimatum to foreign companies to move regional HQs to kingdom 

The announcement, which comes amid an economic slump in the kingdom, could create friction with UAE 

Saudi Arabia is to stop signing contracts with companies whose regional headquarters are based outside of the kingdom, the official Saudi Press Agency (SPA) reported on Monday. 

Citing an unnamed source, the SPA said the bold new policy would come into effect in the region’s largest economy from 2024. 

"Saudi Arabia intends to cease contracting with companies and commercial institutions with regional headquarters not located in the kingdom,” it said. 

Read more .... 

 More News On Saudi Arabia Issues An Ultimatum To Foreign Companies To Bring Their Regional HQ Offices Into The Kingdom If They Want Government Contracts 

Saudi Arabia won't work with foreign firms without regional HQ from 2024 -- Reuters 

Saudi Arabia to stop giving contracts to firms having regional headquarters outside Kingdom -- Saudi Gazette 

‘Dramatic and risky’ — and a shot at Dubai? Saudi Arabia issues bold business ultimatum to pull regional HQ offices into the kingdom -- CNBC 

Saudi Arabia’s ‘Project HQ’ stirs competition with Dubai -- Al Jazeera 

Analysis: Saudi Arabia eyes Dubai's crown with HQ ultimatum -- Reuters

Is Saudi Arabia Becoming The New Drone Battleground?

Saudi security forces have also used drones — in this case, to film a military parade 

DW: Will Saudi Arabia become a new drone battleground? 

An Iraqi militia has claimed responsibility for two suicide drones fired at Riyadh earlier this week — and vowed to do it again. The new group suggested Saudis should be sleeping with "one eye open" from now on. Over the past week, two mysterious projectiles were intercepted by Saudi Arabian air defense systems as they flew over the country's capital, Riyadh. Last Saturday, state-owned media channels said a projectile had been intercepted and on Tuesday, explosions were again heard over the city around midday. 

Read more .... 

WNU Editor: Suicide/Kamikaze drones are going to be used in future wars and conflicts. They are cheaper than missiles, and if done right, can be very effective. Azerbaijan's effective use of drones in its war with Armenia last year showed everyone how they can be used to decimate enemy forces.

Economic Hard Times Have Arrived In Saudi Arabia

DW: Riyadh slashes welfare as oil and coronavirus effects kick in

Saudi Arabia has unveiled plans to triple valued-added tax (VAT) and stop monthly payments to citizens. Record low oil prices and the effects of the coronavirus pandemic are taking their toll.

Saudi Arabia has decided to cut its cost of living allowance from June and to hike VAT from 5% to 15% from July 1.

As record low oil prices and the effects of the coronavirus crisis take their toll, Finance Minister Mohammed al-Jadaan said in a statement on Monday that the measures were necessary "to shore up state finances" amid a sharp decline in oil revenue, as the coronavirus scare reduces global demand for crude and cuts growth forecasts. The IMF projected the Saudi economy would fall 2.3% this year.

"So far, the minister of finance announced that the 'citizen account' that benefits lower income Saudis will not be affected," Yasmine Farouk, visiting scholar at the Carnegie Endowment for International Peace, said. "The increase in VAT will however affect the standard of living of all Saudis but those who will feel it the most would be the poorer of course."

Read more ....

WNU Editor: The Saudi government's dependency on oil exports is crippling it's revenue stream. These austerity measures are not going to solve the Kingdom's problems.

More News On Saudi Arabia's Austerity Measures

Saudi Arabia triples taxes, cuts $26 billion in costs amid pandemic -- PBS
Saudi Arabia triples VAT and suspends handouts -- Asia Times
Saudi Arabia Unveils Austerity Program, Including Tripling Of VAT, To Fight Coronavirus Impact -- IBTimes
Pandemic shock leads to ‘overhaul’ of Saudi finances -- Arab News
Saudi Arabia, Qatar worst hit by coronavirus among Arab states -- Middle East Monitor
Oil Price War Puts Entire Kingdom Of Saudi Arabia At Risk -- OilPrice.com
Saudi Arabia’s latest oil production cuts show it is back in ‘whatever it takes’ mode, strategist says -- CNBC

Saudi Arabia's Purge Expands To Include Other Royals And Military Officers

Daily Mail: Crown Prince Mohammed Bin Salman arrests 'treasonous' rivals: Saudi Arabia king's brother, an ex-crown prince and a cousin are held by masked black-clad guards for 'coup plot' as MBS tightens his grip on power

* Prince Ahmed bin Abdulaziz al Saud and Prince Mohammed bin Nayef arrested
* Over plot to oust king and son, Prince Mohammed bin Salman, reports suggest
* Mohammed bin Nayef had been crown prince before his title was taken away
* King Salman put his son - Prince Mohammed bin Salman - first in line for throne

The brother and nephew of Saudi Arabia's King Salman have been arrested over a plot to oust the king and his son, Prince Mohammed bin Salman.

Prince Ahmed bin Abdulaziz al-Saud, a brother of King Salman, and the monarch's nephew Prince Mohammed bin Nayef were accused of treason.

They were taken from their homes early on Friday by black-clad royal guards, the Wall Street Journal reported.

The Saudi royal court has accused the two men, once potential contenders for the throne, of 'plotting a coup to unseat the king and crown prince' and could face lifetime imprisonment or execution, the newspaper said.

Read more ....

WNU Editor: Crown Prince Mohammed Bin Salman clearly feels that his position is under threat. Even the King's brother was arrested.

More News On the Purge In Saudi Arabia

Saudi crackdown widens amid reports of further arrests of royals -- Al Jazeera
Saudi crown prince signals new purge with ‘treason’ arrests -- The Guardian
Saudi Arabia detains senior royals for alleged coup plot, including king's brother: sources -- Reuters
Saudi Arabia detains three royal princes for alleged 'coup plot' -- France 24
Saudi Prince detains 3 senior royals -- UPI
Saudis’ arrest of 2 princes called a warning to royal family -- AP
MbS Widens Purge: Dozens Of Royals And Army Officers Swept Up After Powerful Princes Arrested -- Zero Hedge
Saudi Arabia releases images of King Salman after purge of royals -- The Guardian
Top Saudi royals ‘arrested for plotting with Americans against King,’ Western media say. What’s happening in oil-rich kingdom? -- RT