No Image

In Historic Shakeup Saudi King Removes Crown Prince, Names Son As First Heir

In a shocking development, on Wednesday Saudi Arabia’s King Salman appointed his 31-year-old son Mohammed bin Salman (his eldest son from his third wife) as crown prince, placing him as first-in-line to the throne and removing his nephew, 57-year-old Mohammed bin Nayef – the country’s counterterrorism czar and a figure well-known to Washington – from the royal line of succession, relieving him of his post as Interior Minister, and stripping him from all his titles.

Bin Salman already controls the Kingdom’s defense, oil and economic policies; today’s announcement merely consolidates his power. He was also credited with arranging Trump’s “successful” trip to Riyadh.

Al Arabiya television reported that the promotion of the prince was approved by the kingdom’s Allegiance Council with 31 of 34 members approving, and that the king had called for a public pledging of loyalty to Mohammed bin Salman on Wednesday evening in Mecca. The surprise announcement follows 2-1/2 years of already major changes in Saudi Arabia, which stunned allies in 2015 by launching a war in Yemen, cutting old energy subsidies and in 2016 proposing partly privatizing state oil company Aramco.

As AP further reports, in a series of royal decrees carried on the state-run Saudi Press Agency, the monarch stripped Prince Mohammed bin Nayef, who had been positioned to inherit the throne, from his title as crown prince and from his powerful position as the country’s interior minister overseeing security.

The newly announced Crown Prince Mohammed bin Salman already oversees a vast portfolio as defense minister and head of an economic council tasked with overhauling the country’s economy. And while he had previously been the second-in-line to the throne as deputy crown prince, numerous royal watchers had suspected his rise to power under his father’s reign might also accelerate his ascension to the throne.

The young prince was little known to Saudis and outsiders before Salman became king in January 2015, although he quickly rose to prominence when he emerged as the dominant voice in the OPEC production cut negotiations. He had previously been in charge of his father’s royal court when Salman was the crown prince. The Saudi monarch awarded his son expansive powers to the surprise of many within the royal family who are more senior and more experienced than Mohammed bin Salman.

King Salman also reinstated all allowances and bonuses that were canceled or suspended to civil servants and military personnel, SPA reported.

While the backroom negotiations that resulted in today’s stunning announcement will likely remain unknown indefinitely, today’s dramatic overhaul of the Saudi royal succession was previewed here as recently as December, when we discussed that the present Saudi king, Salman bin Abdul Aziz, is the last of the sons of the first Saudi king, Abdul Aziz al Saud, who will ever sit on the Saudi throne. After Salman dies, Saudi leadership will pass to a new generation of Saudi royals. But not all the descendants of the first Saudi king are happy about how the future succession may turn out.

Salman named his nephew, Mohammed bin Nayef, as crown prince after firing his half-brother, Mugrin bin Abdul Aziz, as crown prince after the death of King Abdullah in 2015. For good measure, Salman also named his son, Mohammad bin Salman, who is little-known outside the kingdom, as deputy prime minister. The 30-year old Mohammad bin Salman is seen by some as the eventual crown prince after King Salman figures out some way to ease Mohammad bin Nayef, the Interior Minister and close friend of the United States, out of the position of heir apparent to the throne.

 

More and more power has been concentrated into Mohammad bin Salman’s hands, including control over the Defense Ministry, the Council of Economy and Development, and the Saudi government-owned Arabian-American oil company (ARAMCO). The deputy crown prince and defense minister is the architect of Saudi Arabia’s genocidal military campaign against the Houthi rebels in Yemen and continued Saudi support for jihadist guerrillas in Syria and Iraq, as well as military support for the Wahhabist royal regime in Bahrain in its bloody suppression of the Shi’a Muslim majority population. Mohammad bin Salman is also the major force in Saudi Arabia seeking a military confrontation with Iran.

 

There is a schism within the Saudi royal family that has created a real-life «Game of Thrones» within the kingdom.

Finally, while it remains unclear what domestic consequences the King’s decision will have, a decree which an official said was “due to special circumstances”, that this major power move comes at a time when OPEC and Saudi Arabia are both reeling, as a result of plunging oil prices leads one to believe that the current deteriorating state of the Saudi economy, coupled with plunging oil revenues, may have been a catalyst in today’s announcement.

Live feed from Saudi TV:

The post In Historic Shakeup Saudi King Removes Crown Prince, Names Son As First Heir appeared first on crude-oil.news.


No Image

In Historic Shakeup Saudi King Removes Crown Prince, Names Son As First Heir

In a shocking development, on Wednesday Saudi Arabia’s King Salman appointed his 31-year-old son Mohammed bin Salman (his eldest son from his third wife) as crown prince, placing him as first-in-line to the throne and removing his nephew, 57-year-old Mohammed bin Nayef – the country’s counterterrorism czar and a figure well-known to Washington – from the royal line of succession, relieving him of his post as Interior Minister, and stripping him from all his titles.

Bin Salman already controls the Kingdom’s defense, oil and economic policies; today’s announcement merely consolidates his power. He was also credited with arranging Trump’s “successful” trip to Riyadh.

Al Arabiya television reported that the promotion of the prince was approved by the kingdom’s Allegiance Council with 31 of 34 members approving, and that the king had called for a public pledging of loyalty to Mohammed bin Salman on Wednesday evening in Mecca. The surprise announcement follows 2-1/2 years of already major changes in Saudi Arabia, which stunned allies in 2015 by launching a war in Yemen, cutting old energy subsidies and in 2016 proposing partly privatizing state oil company Aramco.

As AP further reports, in a series of royal decrees carried on the state-run Saudi Press Agency, the monarch stripped Prince Mohammed bin Nayef, who had been positioned to inherit the throne, from his title as crown prince and from his powerful position as the country’s interior minister overseeing security.

The newly announced Crown Prince Mohammed bin Salman already oversees a vast portfolio as defense minister and head of an economic council tasked with overhauling the country’s economy. And while he had previously been the second-in-line to the throne as deputy crown prince, numerous royal watchers had suspected his rise to power under his father’s reign might also accelerate his ascension to the throne.

The young prince was little known to Saudis and outsiders before Salman became king in January 2015, although he quickly rose to prominence when he emerged as the dominant voice in the OPEC production cut negotiations. He had previously been in charge of his father’s royal court when Salman was the crown prince. The Saudi monarch awarded his son expansive powers to the surprise of many within the royal family who are more senior and more experienced than Mohammed bin Salman.

King Salman also reinstated all allowances and bonuses that were canceled or suspended to civil servants and military personnel, SPA reported.

While the backroom negotiations that resulted in today’s stunning announcement will likely remain unknown indefinitely, today’s dramatic overhaul of the Saudi royal succession was previewed here as recently as December, when we discussed that the present Saudi king, Salman bin Abdul Aziz, is the last of the sons of the first Saudi king, Abdul Aziz al Saud, who will ever sit on the Saudi throne. After Salman dies, Saudi leadership will pass to a new generation of Saudi royals. But not all the descendants of the first Saudi king are happy about how the future succession may turn out.

Salman named his nephew, Mohammed bin Nayef, as crown prince after firing his half-brother, Mugrin bin Abdul Aziz, as crown prince after the death of King Abdullah in 2015. For good measure, Salman also named his son, Mohammad bin Salman, who is little-known outside the kingdom, as deputy prime minister. The 30-year old Mohammad bin Salman is seen by some as the eventual crown prince after King Salman figures out some way to ease Mohammad bin Nayef, the Interior Minister and close friend of the United States, out of the position of heir apparent to the throne.

 

More and more power has been concentrated into Mohammad bin Salman’s hands, including control over the Defense Ministry, the Council of Economy and Development, and the Saudi government-owned Arabian-American oil company (ARAMCO). The deputy crown prince and defense minister is the architect of Saudi Arabia’s genocidal military campaign against the Houthi rebels in Yemen and continued Saudi support for jihadist guerrillas in Syria and Iraq, as well as military support for the Wahhabist royal regime in Bahrain in its bloody suppression of the Shi’a Muslim majority population. Mohammad bin Salman is also the major force in Saudi Arabia seeking a military confrontation with Iran.

 

There is a schism within the Saudi royal family that has created a real-life «Game of Thrones» within the kingdom.

Finally, while it remains unclear what domestic consequences the King’s decision will have, a decree which an official said was “due to special circumstances”, that this major power move comes at a time when OPEC and Saudi Arabia are both reeling, as a result of plunging oil prices leads one to believe that the current deteriorating state of the Saudi economy, coupled with plunging oil revenues, may have been a catalyst in today’s announcement.

Live feed from Saudi TV:

The post In Historic Shakeup Saudi King Removes Crown Prince, Names Son As First Heir appeared first on crude-oil.news.


No Image

Mohammed bin Salman named crown prince

Author: 
ARAB NEWS
Wed, 2017-06-21 09:43
ID: 
1498016838494926700

JEDDAH: Saudi Deputy Crown Prince Mohammed bin Salman has been appointed as crown prince, replacing Prince Mohammed bin Naif, a royal decree carried by the Saudi Press Agency (SPA) said on Wednesday.
The decree issued by King Salman also appointed Prince Abdulaziz bin Saud bin Naif as interior minister, a post held by the former crown prince.
The SPA report said Mohammed bin Salman was chosen as crown prince by 31 out of 34 members of the Kingdom’s Succession Committee during a meeting at Al Safa Palace in Makkah during the early hours of Wednesday.
The new crown prince has also served in a concurrent capacity as defense minister and chairman of the Council for Economic and Development Affairs.
Born Nov. 4, 1983, he is the youngest ever interior minister to serve.
The SPA report said Mohammed bin Salman was chosen as crown prince by 31 out of 43 members of the Kingdom’s Succession Committee during a meeting at Al Safa Palace in Makkah in the early hours of Wednesday.
The new crown prince has also served in a concurrent capacity as defense minister and chairman of the Council for Economic and Development Affairs.
SPA said King Salman appointed the following as advisers to the Royal Court with the rank of minister: Abdul Rahman bin Ali Rubaiaan, Nasser bin Abdulaziz Al Dawoud, Bandar bin Khalid bin Faisal bin Abdulaziz Al Saud, and Prince Turki bin Mohammed bin Fahd bin Abdulaziz Al Saud. Faisal bin Abdulaziz bin Abdullah Al-Sudairy was named adviser to the Royal Court with excellent rank.
Also appointed were: Ahmed bin Mohammed Al-Salem, deputy interior minister with the rank of minister; Prince Bandar bin Faisal bin Bandar, assistant to the President of the General Intelligence; Prince Abdulaziz bin Turki bin Faisal bin Abdulaziz, vice chairman of the General Authority for Sport Management; and Prince Abdulaziz bin Fahd bin Turki bin Abdulaziz, deputy to the Emir of Al-Jouf.
Appointed as the Kingdom’s new ambassadors were Prince Faisal bin Sattam bin Abdulaziz, to Italy, and Prince Khalid bin Bandar bin Sultan bin Abdulaziz, to Germany.
In a viral video that has been circulated on social media, Prince Mohammed bin Naif, former crown prince, pledged allegiance to the newly-appointed Crown Prince Mohammed bin Salman at Al-Safa Palace Wednesday.


Congratulatory messages pour in
The new appointment received a broad support in the national, Islamic and international spheres.
The highest religious body, Council of Senior Scholars, pledged allegiance to the newly appointed Crown Prince in a series of tweets hailing the leadership’s wise choice.
Meanwhile, the Organization of Islamic Cooperation (OIC) welcomed the choice by King Salman bin Abdul Aziz Al-Saud of Prince Muhammed bin Salman bin Abdul Aziz as crown prince and vice chairman of the Council of Ministers, while continuing in his role as defense minister.
OIC Secretary General Yousef A. Al-Othaimeen expressed his congratulations to King Salman over this choice, given Prince Muhammed’s experience, wisdom and vision in the management of the affairs of the Kingdom, his dedication to the service of his religion, nation and ummah, and his commitment to taking far-reaching steps on joint actions in the interest of the Islamic world.
Sheikh Mohammad Abdulkarim Al-Issa, secretary-general of the Makkah-based Muslim World League, described the appointment of the new crown prince as successful and promising given the national and international prestige Mohammed bin Salman enjoys.
In a statement issued Wednesday, Issa said Prince Mohammed bin Salman had always served his religion first, and his country, king and nation second.
Head of the Council of Pakistanis Scholars, Sheikh Al-Hafiz Mohammad Taher Mahmoud Ashrafi, backed the royal decree and said that the appointment is a wise step taken by King Salman and Saudi Arabia’s Allegiance Council, as Prince Mohammed is known for his ethics and leadership, as seen in Vision 2030.
On the international scale, the United States President Donald Trump called the newly-appointed crown prince and congratulated hims on new promotion, saying it “strengthens” the United States partnership with the Kingdom.
The Italian Prime Minister, Paolo Gentiloni, sent a letter congratulating Mohammed bin Salman on his appointment as Saudi’s Crown Prince and vice chairman of the Council of Ministers.
“This choice is a recognition of the great effort you have made throughout the years to enhance the importance and centrality of your country’s role in achieving delicate balances for the region,” the letter read.
Meanwhile, Qatar’s ruler, whose country is facing a boycott by some of its neighbors over allegations of supporting terrorism, has congratulated Mohammed bin Salman on his appointment as crown prince of Saudi Arabia, the state news agency QNA said.
QNA said the emir, Sheikh Tamim bin Hamad Al-Thani, sent a cable to Prince Mohammed “wishing him success … for the good of the kingdom under the wise leadership of the Custodian of the Two Holy Mosques … and for more progress for brotherly relations between the two brotherly countries.”
Turkish President Recep Tayyip Erdogan expressed his congratulations to prince Mohammed bin Salman on his new post as Saudi Arabia’s new crown prince.


Saudi stock market soars
The Saudi stock market index on Wednesday jumped by 5.5 percent to an 18-month high, following news that King Salman has placed his 31-year-old son next in line to the throne.

-With input from Reuters

Main category: 
related_nodes: 
Saudi Arabia’s senior clerics welcome choice of new crown prince
Saudi stock market soars 5.5% after crown prince appointment, MSCI update
Mohammed bin Naif pledges allegiance to Crown Prince Mohammed bin Salman






No Image

Russia, Iran sanctions bill hits roadblock in U.S. House

Legislation to impose new sanctions on Russia and Iran that passed the US Senate nearly unanimously last week has run into a procedural problem that could prevent a quick vote in the House of Representatives, lawmakers said on Tuesday. The Countering Iran’s Destabilizing Activities Act, which also includes new sanctions against Russia, passed the Senate 98-2 last week, an overwhelming vote that looked like it might complicate President Donald Trump’s desire for warmer relations with Moscow. But the measure must still pass the House before it can be sent to Trump to sign into law, or veto, and the House parliamentarian found that the legislation violated a constitutional requirement that any bill that raises revenue for the government must originate […]


No Image

Bitcoin Surges Back Above $2700 As India “Legalizes” Cryptocurrency

After crashing 30% last week, Bitcoin is now up over 33% in the last few days helped by a surge in demand from India exchanges after the India government ruled Bitcoin as legal in India

Yet another big rebound… this time as India – the world’s second most-populous nation rules in favor of regulating Bitcoin…

As CoinTelegraph reports, over the past three years, the big three Indian Bitcoin exchanges including Zebpay, Coinsecure and Unocoin operated with self-regulated trading platforms with strict Know Your Customer (KYC) and anti-money laundering systems in place, despite the lack of regulations in the digital currency industry and market.

The efforts of the Bitcoin exchanges in India to self-regulate the market allowed the Indian government to reconsider the Bitcoin and digital currency sectors, regardless of the criticisms by several politicians that significantly lack knowledge in cryptocurrency.

On March 24, Cointelegraph reported that Kirit Somaiya, a member of parliament of the ruling BJP in India, was harshly criticized for his description of Bitcoin as a Ponzi scheme.

In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin.

The legalization of Bitcoin in India

In spite of the negative attitude of certain politicians, the Indian government has come to a decision to regulate the market and provide an even playing field for Bitcoin exchanges that have allocated a significant amount of resources to standardize the market and industry.

Back in April, Mohit Kalra, CEO of Coinsecure, one of the largest Bitcoin exchanges in India, told Cointelegraph in an interview that the Indian government has finally started to take Bitcoin seriously and are considering the possibility of regulating the market.

Kalra said:

“Finally, something positive for the industry. Authorities are now taking this technology seriously. We have been trying to get their attention for years now. I am glad it’s all happening at the right time. At Coinsecure, we are seeing a massive increase in the number of users and volumes. We are positive with what will happen in these coming three months.”

On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term.

Prior to the announcement of the Indian government, Chris Burniske, ARK Invest’s crypto lead, noted that the trading volumes in India have been on the rise. Burniske previously revealed that the Indian Bitcoin exchange market is responsible for processing around 11 percent of Bitcoin-to-USD trades.

The post Bitcoin Surges Back Above $2700 As India “Legalizes” Cryptocurrency appeared first on crude-oil.news.