Author: Steven Sahiounie

Saudi Arabia is set to suspend a cost-of-living allowance for state employees and increase value added tax (VAT), amid a slump in oil prices and the coronavirus crisis. “The cost of living allowance will be suspended as of June 1, and the value added tax will be increased to 15 percent from 5 percent as of July 1,” Finance Minister Mohammed Al Jadaan said on Monday. The 1000-riyal monthly allowance was granted in 2018 to compensate public sector employees for the rising cost of living after the government increased domestic gas prices and introduced value-added tax. “These measures are painful but…

Syria’s Foreign Ministry has denounced the recent marine incursion attempt into Venezuela, saying the failed operation was part of Washington’s conspiracy against the Latin American country. An official source at Syria’s Foreign Ministry said on Monday that such hostile conduct is part of the conspiracy against Venezuela’s sovereignty practiced by the White House’s mercenaries there. The unnamed source reiterated Syria’s solidarity with Venezuela and the legitimate government of President Nicolas Maduro. On May 3, a group of US-backed mercenaries attempted to intrude into the northern state of La Guaira on boats, but Venezuelan authorities foiled the attack — which was launched from…

The total number of the novel coronavirus cases within the six Persian Gulf Cooperation Council (GCC) countries has passed the 100,000 mark, with 557 deaths, according to a Reuters tally. Saudi Arabia, the worst-hit country by the pandemic, reported 1,966 new cases and nine new deaths on Monday. The kingdom, which has the highest count at 41,014 infections and 255 deaths, has already halted international flights, suspended the year-round ‘Umrah’ pilgrimage, closed most public places, and heavily restricted internal movement. The daily number of new cases in Saudi Arabia first crossed the 1,000 threshold on April 18. Saudi Health Minister…

According to the April deal, OPEC+ nations will cut production by 9.7 million barrels per day from May-June. Output will be reduced by 7.7 million barrels from July until the end of 2020, and by 5.8 million barrels per day from January 2021 to April 2022. The Saudi Arabian Energy Ministry has instructed state oil giant Aramco to reduce crude oil output in June by a further one million barrels per day above the planned reductions agreed in the April 12 OPEC+ deal, the state-run Saudi Press Agency said Monday citing a ministry official. According to the agency, the decision will…

Brussels diplomats said the EU had now accepted that it is unlikely the UK will request an extension on the post-Brexit transition period, despite the risk of Britain crashing out of the single market and customs union without a trade agreement. Talks between the UK and Brussels on a post-Brexit trade deal resumed on Monday with both sides far apart on key issues but under pressure to make progress ahead of an EU-UK summit next month. Although the coronavirus pandemic has slowed down negotiations, Boris Johnson’s government has said they will not agree to an extension to the transition period due to…

The allegations follow the release of footage by Iraqi Shia militia group Harakat Hezbollah al-Nujaba last week allegedly showing the transfer of militants from Hasakah, northeastern Syria to Iraq under the dead of night by US helicopters. US forces have transfered Daesh (ISIS)* terrorists out of Syria and into Iraq, Mohammed Mahdi al-Bayati, a key member of the Badr Organization, a powerful Iraqi Shia political and militia group, has claimed. “Eyewitnesses living along the border with Syria have informed security officials that American forces are conducting extensive airborne transfers of Daesh terrorists from Syria to Iraq,” al-Bayati said, his remarks…

The Russian president first announced a period of nationwide ‘non-working’ days for non-essential workers in late March, extending them through the month of April and into early May as part of the country’s effort to curb the spread of the novel coronavirus. The period of state-mandated days off work for non-essential workers will end May 12, Russian President Vladimir Putin has announced. This will allow sectors of the economy, including construction and agriculture, to resume their work, on the condition that they continue to follow strict safety rules. “Starting from tomorrow, May 12, the national period of non-working days will…

At least 19 people were killed and 15 more injured after the Iranian Navy frigate Jamaran accidentally struck the Konarak general-purpose vessel during live-fire exercises near the Gulf of Oman on Sunday. Iranian media have put out photos and videos of the aftermath of Sunday’s incident, with footage released by Jam-e Jam Daily showing smoke billowing from the Konarak light support vessel. Photos of the vessel as it’s towed by tugboats back to port show it to be almost completely destroyed, and taking in water. Media have also released the portraits of the 19 sailors killed in the incident. Sputnik reported…

Steven Sahiounie, journalist and political commentator Fierce battles are raging in Hasakah, a city in the far northeast of Syria, between two separate terrorist groups. ‘Sultan Murad’ and the ‘Al Hamza Division’ terrorist groups in Abo Rasen, northwest of Hasakah. The dead and wounded are both Turkish-backed terrorists. The fighting is over control of the town and the looting of the area. Both sides have sent reinforcements as the clashes continue. ‘There is no honor among thieves’ The Turkish-backed terrorist groups in northern Syria have been fighting each other for some time concerning their paychecks, and about the Turkish government sending Syrian…

Oil prices have rallied as traders believe the depths of demand destruction may be coming to an end with economies beginning to reopen. But some analysts are warning that the oil price rally may be premature. WTI prices have doubled from $12 to $24 in a little over a week. There is evidence that demand has bottomed out and has begun to rise from recent lows. US gasoline demand has ticked up for two consecutive weeks, rising from 5.31 million barrels per day (mb/d) in mid-April to 6.66 mb/d on May 1. On the supply side, shut ins plus the OPEC+ deal…