Saudi Arabia

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Saudi Arabia

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On 11/17/2017, Reuters reported Saudi authorities are striking agreements with some of those detained in an anti-corruption crackdown, asking them to hand over assets and cash in return for their freedom, sources familiar with the matter said. The deals involve separating cash from assets like property and shares, and looking at bank accounts to assess cash values, one of the sources told Reuters. Dozens of princes, senior officials and businessmen, including cabinet ministers and billionaires, have been detained in the graft inquiry at least partly aimed at strengthening the power of Crown Prince Mohammed bin Salman. The Saudi authorities have help from international auditors, investigators and people with experience in tracing assets. Bank representatives are on hand to execute the decisions immediately, one of the sources said.

On 11/11/2017, Reuters reported that Bahrain said an explosion which caused a fire at its main oil pipeline on Friday was caused by "terrorist" sabotage, linking the unprecedented attack to its arch-foe Iran, which denies any role in the Gulf island kingdom's unrest. A key Western ally and host to the U.S. Fifth Fleet, Sunni Muslim-ruled Bahrain has for years grappled with protests and sporadic violence coming from its Shi'ite majority. "The incident was an act of sabotage and a dangerous act of terrorism aimed at harming the higher interests of the nation and the safety of the people," the interior ministry said. Bahraini authorities said they had brought under control the fire at the oil pipeline.
Dan Steffens
Energy Prospectus Group
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