Saudi Arabia’s Crown Prince Mohammed bin Salman dismissed remarks by Donald Trump in which the US president said the King he would not last in power “for two weeks” without US military backing. The Kingdom of Saudi Arabia is one of the most powerful players of the Arab world. It is an…
Background
The Kingdom of Saudi Arabia is one of the most powerful players in the Arab world. It is an oil-dependent nation with the second-largest proven petroleum reserves and the largest exporter of petroleum. It is the largest economy in the Arab world and the ruling Al Saud dynasty holds a monopoly of political power. Saudi Arabia was established in 1932 by King Abd-al-Aziz, who has been succeeded by various sons.
The region, while economically developed, is also accused of violating human rights. The country follows the Wahhabi interpretation of Islamic law which dictates harsh punishments – including public beheadings for a range of crimes. This has been criticized by international rights organisations.
Saudi Arabia has been a steadfast US ally for decades and was instrumental in supporting NATO troops in the first Gulf War.
Analysis
Saudi Arabia’s Crown Prince Mohammed bin Salman dismissed remarks by Donald Trump in which the US president said he had warned the King he would not last in power “for two weeks” without US military backing and demanded he pay up.
“I love working with him. You know, you have to accept that any friend will say good things and bad things,” Prince Mohammed said in a Bloomberg interview published on Friday (Oct 5). “We believe that all the armaments we have from the United States of America are paid for, it’s not free armament. So ever since the relationship started between Saudi Arabia and the United States of America, we’ve bought everything with money,” Prince Mohammed added.
US President Donald Trump made the undiplomatic statement at a campaign rally in Southaven, Mississippi saying he warned Saudi Arabia’s King Salman he would not last in power “for two weeks” without the backing of the U.S. military. Trump is increasing his pressure on America’s closest Mideast allies over rising oil prices.
Trump and King Salman last shared a telephonic call on Saturday, in which they discussed “efforts to maintain supplies to ensure the stability of the oil market and ensure the growth of the global economy,” according to the state-run Saudi Press Agency. As crude oil prices reach a four-year high, Trump repeatedly has demanded OPEC and Saudi Arabia, the world’s biggest oil exporter to push prices down. He has also urged other U.S. allies, such as Japan, South Korea and Germany, to take more of the financial burden of their defence.
U.S. gasoline prices are up ahead of November midterm elections, in which Trump already faces political headwinds. Despite the harsh words, the Trump administration has had a close relationship with Saudi Arabia, which it views as a bulwark against Iran’s ambitions in the region. Trump made Saudi Arabia his first stop on his maiden international trip as president last year.
Saudi Arabia is the world’s top oil exporter and the de facto leader of OPEC, which has been criticised by Trump for high oil prices.
Trump’s criticisms have not been limited to Saudi Arabia alone. In his speech to the UN General Assembly, the US president in a similar vein cautioned other unnamed countries against taking advantage of the United States.
Assessment
Our assessment is that the increase in oil prices by OPEC led by Saudi breaks the understanding that the United States and Saudi Arabia appeared to have reached that Washington will reduce or eliminate Iran’s oil export revenues and in return, Riyadh will guarantee oil supplies and stabilize prices. President Trump’s remarks are a knee-jerk reaction to Saudi Arabia’s control over OPEC oil production. We believe that despite the military alliance between the two countries, Saudi will look out for its own interests and regulate OPEC oil production as per its requirements.
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