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The report states that the new fund aims to support the development of infrastructure that can decrease the global oil and gas supply's dependence on the Strait of Hormuz.
As part of US President Donald Trump's strategy, eight Middle Eastern countries—Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, Oman, Iraq, and Jordan—would together provide an additional $5 billion. Conversations about the specifics of the proposal are continuing.
According to the WSJ, this action acts as an implicit recognition of the extensive harm caused by the seven-month conflict between the US and Iran. The conflicts have resulted in the devastation of local oil refineries and pipelines.
Previously, Iran's military leadership accused the US of getting ready to restart large-scale conflicts. Iran's Islamic Revolutionary Guard Corps states that Iranian troops are ready for an extended conflict with the US.
source: wsj.com
As part of US President Donald Trump's strategy, eight Middle Eastern countries—Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, Oman, Iraq, and Jordan—would together provide an additional $5 billion. Conversations about the specifics of the proposal are continuing.
According to the WSJ, this action acts as an implicit recognition of the extensive harm caused by the seven-month conflict between the US and Iran. The conflicts have resulted in the devastation of local oil refineries and pipelines.
Previously, Iran's military leadership accused the US of getting ready to restart large-scale conflicts. Iran's Islamic Revolutionary Guard Corps states that Iranian troops are ready for an extended conflict with the US.
source: wsj.com