Page 12 - MEOG Week 08 2023

MEOG NEWS IN BRIEF MEOG

POLICY In a brief statement, the state-run Saudi drone attacks on tankers and other facilities
Press Agency said the $1 billion deposited late last year. Both spoke on condition of
ISIS members detained in into the Aden-based central bank will help anonymity as they were not briefed to speak
with the media.
the Riyadh-backed administration implement
Iraq’s Kirkuk economic reforms. based group and sub-organization of the
The Arab Monetary Fund, an Abu Dhabi-
Yemen’s ruinous civil war, now entering
Iraqi security forces managed to detain 3 ISIL its ninth year, has wrecked the country’s 22-member Arab League, will help oversee the
terrorist forces in the Hawija region in Kirkuk economy and pushed half of the population to use of the $1 billion, the SPA said.
province, local sources reported on Tuesday. the brink of famine. Over 150,000 people have In April 2022, Saudi Arabia and the
One of the terrorists was in charge of been killed in the conflict. UAE promised $3 billion worth of aid to
supplying and transporting explosives. The war began in 2014 when Iran-backed the internationally recognized president. It
Another one was in charge of recruiting Houthi rebels seized Yemen’s capital Sanaa, remains unclear whether Tuesday’s deposit is
young people, and the third one was in charge along with much of the north of the country, part of that pledge.
of distributing food to the families of ISIL forcing the government into exile. A Saudi Yemen has seen a lull in front-line fighting
terrorists. coalition, including the United Arab Emirates, in recent months, despite the country’s
In a statement on Monday, the Iraqi MoD intervened the next year to try to restore the six-month-long formal cease-fire agreement
announced that the commander of the air internationally recognized government. The expiring last October. During this period,
defence unit of the ISIL terrorist group was country’s central bank has since been divided Houthi and Saudi officials have been engaged
detained in southern Baghdad. between the warring sides, with the Houthis in talks seeking to reach a negotiated end to
In recent days, ISIL elements have once operating its monetary authority from Sanaa the civil war.
again carried out terrorist operations in Rashad al-Alimi, head of the ABC
different parts of Iraq. internationally recognized presidential
ISIL, which attacked Iraq on June 7, 2014, council, thanked the Saudi government for
and managed to capture about 45% of the Tuesday’s economic aid in a series of posts on COMPANIES
country’s territory for a short period of time, Twitter. Al-Alimi said the money would go
was defeated in November 2017; However, toward funding new projects and stabilizing Crescent signs three Iraqi
since then, the remanent members of the the currency. No further details were given.
terrorist group are still present and operating Yemen has been hit hard by the fallout gas development deals
in Iraq and Syria and carry out terrorist of the Ukraine war, with the country having
activities from time to time. imported 40% of its grain from Ukraine until Crescent Petroleum, the Middle East’s
Iraqi security forces keep searching, supply channels were cut following Russia’s oldest privately-owned upstream oil and
clearing, and chasing ISIL across the country invasion. Food prices in Yemen have since gas company, has signed three twenty-year
to make sure that ISIL and its escaped surged. agreements with Iraq’s Ministry of Oil to
elements do not re-emerge. Over past years, the Aden branch of appraise, develop, and produce oil and gas
MEHR NEWS Yemen’s central bank has driven inflation from two blocks in Diyala governorate and
by printing new banknotes to finance debts one in Basra governorate. The agreements
Saudi deposits $1bn into and cover the cost of public sector salaries. will deliver much needed natural gas to fuel
nearby power plants and improve government
Houthi-controlled areas do not accept notes
Yemen’s central bank printed by Aden’s central bank. services, creating thousands of new jobs
in Diyala and Basra. The contracts follow
Two officials from the internationally
Saudi Arabia deposited $1 billion into the recognized government told The Associated Crescent Petroleum’s successful award in the
central bank of Yemen’s internationally Press that the $1 billion aid package will Oil Ministry’s Fifth Bid Round.
recognized government Tuesday in a bid to help compensate for the sharp decline in oil Crescent Petroleum will develop the
bolster the country’s ailing economy, state revenues in recent months. Oil exports have Gilabat-Qumar and Khashim Ahmer-Injana
media said. slowed drastically following several Houthi fields in Diyala Province, to initially produce

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