The United States is reportedly considering fast-tracking billions in Middle Eastern investments before President Donald Trump’s visit to the region next week, raising questions about conflicts of interest.
Five of the world’s 10 most active sovereign wealth funds originate from the UAE, Saudi Arabia, and Qatar. The UAE alone accounts for three of those funds. In March, UAE National Security Adviser Sheikh Tahnoon bin Zayed met with Trump and pledged $1.4 trillion in investments over the next decade.
The investment plan includes projects in artificial intelligence, energy, and aluminium manufacturing—such as building the first aluminium smelter in the U.S. in 35 years. A $1.2 billion mining initiative with Abu Dhabi’s ADQ and U.S.-based Orion Resource Partners will target critical minerals across Africa, Asia, and Latin America.
The largest share of the proposed investments will go into artificial intelligence. Abu Dhabi’s MGX fund has committed $100 billion toward data centers and energy infrastructure to support AI development in the United States.
Saudi Arabia, meanwhile, pledged $600 billion in U.S. investments within a week of Trump taking office in January. Trump later announced that he had encouraged Riyadh to raise the figure to $1 trillion. His close relationship with Crown Prince Mohammed bin Salman, developed during his first term, continues to play a significant role in these investment plans.
Qatar has also maintained a robust investment presence in the U.S., having pledged $35 billion in 2015 and a further $45 billion in 2019 through its Qatar Investment Authority (QIA). Notable investments include $200 million in alternative protein brand EatJust and a 10 percent stake in New York’s Empire State Building.
Conflict of interest concerns
Despite assurances of no direct involvement by the Trump Organization in these deals, ethics watchdogs have raised alarm bells over potential conflicts of interest tied to the president’s upcoming meetings.
The Trump Organization has business interests in all three countries involved. In December, one month after Trump’s election victory, the company announced licensing deals for two new real estate projects in Saudi Arabia. On April 30, it unveiled plans for a luxury golf resort in Qatar.
Citizens for Responsibility and Ethics in Washington (CREW) issued a statement on Thursday warning, “This trip, where Trump will meet with foreign officials who have the ability to make decisions affecting his company and business partners, poses enormous conflicts of interest for Trump, whose company is engaged in significantly more foreign business than during his first term.”
Unlike during his previous presidency, the Trump Organization has said it will not avoid foreign real estate ventures during Trump’s current term.
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Russia and Kazakhstan have signed a formal agreement to move forward with the construction of a nuclear power plant in Kazakhstan, marking a key step in their energy cooperation.
A nationwide transport strike on Friday disrupted travel across Italy, with major delays and cancellations reported in rail, air, and public transit services.
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A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
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Russia and Kazakhstan have signed a formal agreement to move forward with the construction of a nuclear power plant in Kazakhstan, marking a key step in their energy cooperation.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
Russia intends to withdraw from its long-standing agreement on military-technical cooperation with Germany, the Russian Foreign Ministry announced, citing that relevant internal procedures are currently underway.
A nationwide transport strike on Friday disrupted travel across Italy, with major delays and cancellations reported in rail, air, and public transit services.
Azerbaijan and Poland discussed closer cooperation in digital tax reforms and innovation during a high-level meeting held on the sidelines of the IOTA General Assembly in Baku.
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