PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Finance » Saudi Arabia opens airspace to Israeli flights

Saudi Arabia opens airspace to Israeli flights

by PublicWire
July 16, 2022
in Finance
Reading Time: 3 mins read
0

Saudi Arabia is to open its airspace to all flights to and from Israel, a foreign policy win for US president Joe Biden hours before he was due to arrive in the kingdom.

Biden, who hopes his trip will reset US relations with the Gulf state amid turmoil in the global oil market, hailed the Saudi announcement as a “historic decision” and credited his administration with helping to broker the deal.

The announcement provides Biden with a success on his first trip to the region as president after his predecessor Donald Trump helped broker peace accords between Israel and four Arab countries.

Saudi Arabia, however, had held out from joining the 2020 Abraham Accords, which saw the United Arab Emirates, Bahrain and Morocco establish diplomatic relations with Israel. The kingdom, which views itself as the custodian of Islam’s holiest sites and a leader of the Muslim world, has insisted that Israel should settle its conflict with the Palestinians before it could normalise relations with Riyadh.

Saudi Arabia had already allowed some flights to Israel to use its airspace. The decision will include all airlines, drastically cutting travel times between Israel and Asia.

The announcement came after US-brokered negotiations between the kingdom and Israel over security arrangements in two Red Sea islands that Egypt had transferred to Saudi Arabia in 2017. Israel is expected to agree to the new arrangement, which involves the transfer of multinational forces that had been stationed on the islands as part of a peace treaty between Israel and Egypt.

Saudi Arabia’s Crown Prince Mohammed bin Salman, the day-to-day ruler, has signalled his interest in improving relations with Israel. Both countries view Iran as their regional rival, and Tehran has backed Houthi rebels in Yemen who have attacked installations in the kingdom. Saudi Arabia is leading a military intervention against the rebels in Yemen’s civil war.

The US and Israel want to encourage closer military and defence co-operation in the region against Iran. Saudi Arabia already has clandestine intelligence and security ties with Israel, but no announcement on new co-operation is expected during Biden’s visit.

Biden will be meeting Saudi leaders on Friday after arriving in the Red Sea city of Jeddah from Israel, including a separate session with the crown prince and his ministers. He will join a Gulf summit on Saturday that includes the leaders of Egypt and Jordan.

Although the US has pushed the kingdom and other Gulf producers to increase oil production to tame rampant global prices, no move on output is expected during the visit. US officials expect an agreement to pump more oil in the coming months.

Still, it will offer the chance to reset ties between Washington and Riyadh that had been strained since Biden came to office.

Biden had promised to turn the country into a “pariah” over the 2018 murder of Saudi journalist and US resident Jamal Khashoggi by Saudi agents in Turkey. The CIA concluded that Prince Mohammed had sanctioned the operation, something the prince has denied.

Biden has downplayed the meetings for weeks, saying he was primarily visiting Saudi Arabia for a summit and that his regional tour was aimed at promoting peace. But his visit is seen in Riyadh as an about-face and recognition that he has to do business with Prince Mohammed, who may rule the country for decades to come.

Human rights groups and relatives of jailed Saudi and Egyptian dissidents have criticised Biden for the planned meetings with Prince Mohammed and Egyptian president Abdel Fattah el-Sisi.

Biden had also snubbed Sisi after coming to office, calling him almost a year and a half later for the first time after Egypt brokered a ceasefire to end fighting between the Palestinian militant group Hamas in Gaza and Israel.

A senior US administration official said Biden would discuss human rights during the visit. But when asked by reporters on Thursday, Biden declined to say if he would raise Khashoggi’s killing with Prince Mohammed. He said his views on the murder “are absolutely, positively” clear but the visit was aimed at reasserting US influence in the Middle East.

The senior US administration official said Biden and the Saudi leaders would discuss “strengthening and deepening” the truce in Yemen, “balancing energy markets as we look ahead to coming months” and technological co-operation on 5G and 6G, among other issues.

The US has been worried that Gulf states have been using Chinese 5G and is wary of their growing ties to Beijing.


This post was originally published on this site

Previous Post

A deepening digital divide requires us all to challenge Big Tech

Next Post

Copper rout worsens as recession fears hammer commodities markets

PublicWire

At PublicWire, we know the vast majority of all investors conduct their due diligence and get their news online in a variety of ways including email, social media, financial websites, text messages, RSS feeds and audio/video podcasts. PublicWire’s financial communications program is uniquely positioned to reach these investors throughout the U.S. and Canada as well as on a global scale.

Related Posts

Finance

South Korea ‘reviewing various plans’ to stabilise the won

September 15, 2022
0
Finance

European shares edge higher as investors weigh up policy outlook

September 15, 2022
0
Finance

Ethereum ‘Merge’ concludes in key moment for crypto market

September 15, 2022
0
Finance

EU embargo to hit Russian oil output, IEA says

September 14, 2022
0
Finance

European stocks slide after sharp Wall Street sell-off overnight

September 14, 2022
0
Finance

Terry Smith to close emerging markets investment trust

September 14, 2022
0
Next Post

Copper rout worsens as recession fears hammer commodities markets

Please login to join discussion

Subscribe To Our Newsletter

Loading
Ad
PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2022 publicwire.com

Navigate Site

  • About
  • Contact Us
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • Videos

© Copyright 2022 publicwire.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.