live Oil climbs past $119 a barrel as Iran crisis squeezes global supply - Monday 9 March
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
President Donald Trump welcomed Crown Prince Mohammed bin Salman to the White House on Tuesday, as the Saudi de facto ruler seeks to rehabilitate his global image following the 2018 murder of U.S.-based journalist Jamal Khashoggi and deepen relations with Washington.
During his first White House visit in over seven years, the crown prince was met with a grand display of pomp, presided over by Trump on the South Lawn. This included a military honour guard, a cannon salute, and a flyover by U.S. warplanes.
The two leaders are expected to discuss strengthening security ties, civil nuclear cooperation, and lucrative business deals with the Kingdom. However, despite Trump's pressure, there is unlikely to be a major breakthrough on Saudi Arabia’s normalisation of relations with Israel.
This meeting highlights the crucial relationship between the world’s largest economy and the top oil exporter, which Trump has made a priority in his second term, especially as the international outcry over Khashoggi’s murder fades.
U.S. intelligence concluded that bin Salman approved the capture or killing of Khashoggi at the Saudi consulate in Istanbul, although the crown prince denied ordering the operation, accepting responsibility in his capacity as the kingdom’s de facto ruler.
The warm reception in Washington signals the recovery of relations that were strained following the killing. Trump greeted bin Salman with a handshake and a smile on the red carpet, while military personnel lined the perimeter. The limousine was escorted up the South Drive by a mounted honour guard, and the two leaders looked skyward as fighter jets flew overhead before entering the White House.
Before their talks, the two leaders chatted as Trump gave bin Salman a tour of the presidential portraits outside the Oval Office. The day’s diplomacy also included a lunch in the Cabinet Room and a formal black-tie dinner, providing much of the feel of a state visit. U.S. and Saudi flags decorated the lamp posts in front of the White House.
Trump aims to build on a $600 billion Saudi investment pledge made during his visit to the Kingdom in May, with an announcement expected on numerous targeted projects, according to a senior U.S. official.
U.S. and Saudi officials are poised to finalise deals on defence sales, enhanced cooperation on civil nuclear energy, and a multibillion-dollar investment in U.S. artificial intelligence infrastructure. Trump confirmed that the U.S. would sell 48 F-35 fighter jets to Saudi Arabia, marking a significant shift in policy and the first sale of these advanced aircraft to the Kingdom. This move could alter the military balance in the Middle East and challenge the U.S.’s commitment to maintaining Israel’s “qualitative military edge,” as Israel has previously been the sole Middle Eastern country to possess the F-35.
In addition to military equipment, the Saudi leader is seeking new security guarantees. Experts expect Trump to issue an executive order establishing a defence pact with Saudi Arabia, though it is expected to fall short of the NATO-style treaty the Kingdom initially sought.
Eyeing China, former U.S. negotiator Dennis Ross, now at the Washington Institute for Near East Policy, noted that Trump is keen to foster a multifaceted relationship with Saudi Arabia that keeps it aligned with the U.S. rather than China. "President Trump believes these steps bind the Saudis increasingly to us on a range of issues, from security to the finance-AI-energy nexus," Ross explained.
Trump is also expected to continue pressing bin Salman on Saudi Arabia’s involvement in the Abraham Accords, urging the Kingdom to normalise relations with Israel. However, Saudi Arabia has been hesitant to take such a significant step without a clear path to Palestinian statehood, a goal now overshadowed by the ongoing Gaza conflict.
During his first term, Trump brokered the Abraham Accords agreements between Israel and Bahrain, the United Arab Emirates, Morocco, and Sudan in 2020. In recent weeks, Kazakhstan has also agreed to join. Trump views Saudi Arabia’s inclusion in the Accords as essential for broader Middle East peace.
Jonathan Panikoff, a former deputy national intelligence officer on the Middle East now at the Atlantic Council, suggested that while Trump will push bin Salman to move towards normalising ties with Israel, any lack of progress in that area is unlikely to impede the expansion of U.S.-Saudi security relations. "Trump’s desire for investment into the U.S., which the crown prince has previously pledged, could help pave the way for enhanced defence ties, even as the president presses for Israeli-Saudi normalisation," Panikoff stated.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
An explosion damaged a synagogue in the Belgian city of Liège early on Monday (9 March) in what authorities said was an antisemitic attack that caused damage but no injuries.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
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