The oil price war with Russia, Yemen conflict and human rights violations are all coming back to haunt Saudi crown prince MBS
When a young Mohammad bin Salman was appointed as the head of Saudi Arabia’s defence ministry in January 2015, few people outside the kingdom took notice.
Since then, Salman, known commonly as MBS, has been elevated to the status of the crown prince, the next in line to the throne of the oil-rich country. But his ambitious military project is falling apart just like many of his other initiatives. The PIF is often used as a strategic tool. But with the reputation of MBS taking a hit, it’s running into roadblocks as its attempt to buy the football club Newcastle United shows.
MBS has tried hard to present himself as someone who can change Saudi Arabia into a modern state and do away with its image of a country that exports rigid religious doctrines. He has curbed restrictions on women, allowing them to drive a car for the first time, and reopened cinemas. When the oil price came under pressure last month, Saudi Arabia proposed that major producers cut supplies to the world market. Russia, which is only second to Saudis in oil output, insisted that they wait a while to see how far down the price goes.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Arabia may re-route tankers if U.S. imposes crude import ban, sources saySaudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
Read more »
Newcastle United–$380 Million Sale Threatened As Qatar Group Accuses Saudi Arabia Of Illegally Streaming SportsBillionaire Mike Ashley could lose out on an agreed $380 million deal to sell Newcastle United. The Premier League is currently mulling a letter of complaint from Qatar’s beIN Media Group, alleging Saudi Arabia is involved in the illegal streaming of soccer matches.
Read more »
WSJ News Exclusive | Saudi Oil Stranded in Supertankers as Backlog Piles UpSaudi Arabia’s oil-price war with Russia flooded the market with crude. Now, with demand having dried up and buyers hard to find, the kingdom is resorting to storing much of it at sea.
Read more »
Newcastle United–$380 Million Sale Threatened As Qatar Group Accuses Saudi Arabia Of Illegally Streaming SportsBillionaire Mike Ashley could lose out on an agreed $380 million deal to sell Newcastle United. The Premier League is currently mulling a letter of complaint from Qatar’s beIN Media Group, alleging Saudi Arabia is involved in the illegal streaming of soccer matches.
Read more »
Saudi king Salman approves performing Tarawih in the two holy mosquesSaudi king Salman approved performing Tarawih in the two holy mosques and reducing them with the continued suspension of entry of pilgrims, the Presidency of the Two Holy Mosques' Affairs said in a statement on Wednesday.
Read more »