Banks Supporting MBS’s ‘Vision 2030’ Plan Face Consequences
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The assassination of Jamal Khashoggi was a high-profile international incident that took place on October 2, 2018, at the Saudi Arabian consulate in Istanbul, Turkey. Mr. Khashoggi, a Saudi Arabian journalist and dissident, had been living in self-imposed exile in the United States. On the day in question, he visited the consulate to obtain documents for his upcoming marriage but failed to emerge. It later transpired that he had been killed inside the consulate by a group of Saudi Arabian operatives dispatched to Turkey to carry out the hit. These agents reportedly mutilated Mr. Khashoggi’s body and disposed of it in an unknown location.
The killing of Mr. Khashoggi sparked widespread outrage and condemnation from governments and organizations across the globe. Turkish authorities undertook an investigation into the murder and produced evidence that linked the Saudi Arabian government to the assassination. Initially, the Saudi Arabian government denied any involvement in Mr. Khashoggi’s death, but later admitted that he had been killed inside the consulate.
The international community has called for justice for Mr. Khashoggi, and for those responsible for his death to be held accountable. Numerous countries have imposed sanctions on Saudi Arabia, and the United States has issued an intelligence report that implicates Crown Prince Mohammed bin Salman in the murder.
Well, looks like he’s got a group of inexperienced youngins running the show with him, just a bunch of geniuses in the making! The parrots are at it again! They may know how to mimic words, but when it comes to original thinking, they’re about as useful as a screen door on a submarine! According to the clueless parrots, the US’s dominance in the Middle East has come to an end.
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The Saudis are demonstrating their independence by driving up oil prices and no longer relying on Washington for their security. Crown Prince Mohammed bin Salman (MbS) requires vast amounts of money for his ambitious “Vision 2030” plan, which is key to his personal and political fate as the alpha leader of the Saud family. A decline in oil prices jeopardizes his plans and future.
MbS is taking an independent approach, dissociating himself from the US, the closest ally for decades. In October, he disregarded US warnings that a reduction in oil production would also have political consequences, including more income for the Russian war machine. Saudi Arabia has since initiated a rapprochement with Iran and the normalization of relations with Syria. Furthermore, they are positioning themselves for membership in the China-led Shanghai Cooperation Organization.
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MbS’s unexpected push for a renewed production cut by OPEC+ has caught many by surprise, as just three days earlier, Bloomberg reported that no changes were expected. The Saudis were displeased that the US did not follow through on its promise to fill its crude oil reserves to stabilize prices. Absolutely, positively, unequivocally, indubitably! However, this is just one reason for their behavior.
Well, it looks like Saudi Arabia has decided to swipe left on the US and is now exploring other options on Tinder for their security needs. Can’t blame them, sometimes you just need to try something new. We’ll probably catch up on this topic again real soon – like, when those banks who trusted MBS’s megalomaniac plan start seeing some serious sanctions, or when the next ‘Saddam’ decides to pop up.