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Cabinet: IMF confirms the Kingdom's rapid steps towards achieving the Vision's objectives

Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz chaired the Cabinet meeting held today in Riyadh.

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Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz chaired the Cabinet meeting held today in Riyadh.

At the beginning of the session, the Crown Prince briefed the Cabinet on the content of his meeting with the Foreign Minister of the Russian Federation, which included a review of cooperation relations between the two friendly countries and ways to support and strengthen them, in addition to discussing the latest regional and international developments and the efforts made towards them in order to enhance security and stability.

Minister of Information Salman Al-Dossari explained in his statement to the Saudi Press Agency following the session that the Cabinet then discussed the results of the Kingdom’s participation in a number of multilateral meetings, and what it highlighted during them in terms of interest in strengthening joint international work towards further progress in various fields, and contributing to every effort that serves the development and economic prosperity of all countries of the world.

In this context, the Council commended the overall work of the 161st session of the Ministerial Council of the Arab Gulf States, and the content of its joint meetings with the Russian Federation, the Republic of India, and the Federative Republic of Brazil, stressing the Kingdom’s keenness to advance Gulf cooperation at all levels, and to support ongoing efforts to strengthen Gulf relations with other countries and groups.

The Council welcomed the International Monetary Fund’s report on the Article IV consultations, which included praise for the Kingdom’s leading role in promoting international cooperation, and for the rapid steps taken towards achieving the goals of “Vision 2030”, in addition to its ongoing efforts to diversify its economy and expand its economic base, and to continue the comprehensive structural reform process.

The Kingdom is a global center for financial technology

The Cabinet reviewed the outcomes of the meeting held by the Kingdom and seven countries from the “OPEC Plus” group, and the agreement reached during it to extend the additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024.

The Minister of Information stated that the Cabinet noted the success achieved by the international conference specializing in the financial technology sector held in Riyadh, and the launch of many products and initiatives that reflect the development of a promising sector that aligns with national aspirations for the Kingdom to be a global center in this field.

Alleviating the suffering of the Sudanese people

The Council considered the Kingdom’s winning bid to host the sixth United Nations World Data Forum in 2026 as confirmation of its outstanding efforts in the statistical work sector, and an extension of its successive successes in organizing global forums.

The Cabinet followed up on the latest developments in Arab and Islamic action supporting the establishment of the Palestinian state, the restoration of the legitimate rights of the brotherly Palestinian people, and the cessation of violations by the Israeli occupation forces of international and humanitarian laws.

The Council appreciated the efforts made by the “Allies for Saving Lives and Achieving Peace in Sudan” group to alleviate the suffering of the brotherly Sudanese people, and to continue working to expand the scope of humanitarian aid access and achieve a ceasefire agreement.

decisions:

The Cabinet reviewed the topics on its agenda, including topics that the Shura Council had participated in studying. It also reviewed the conclusions reached by the Council of Political and Security Affairs, the Council of Economic and Development Affairs, the General Committee of the Cabinet, and the Council of Experts regarding these topics. The Cabinet concluded the following:

- Approval of a memorandum of understanding between the government of the Kingdom of Saudi Arabia and the government of the Islamic Republic of Mauritania, for cooperation in the electricity, renewable energy and clean hydrogen sectors.

- Authorizing the Minister of Interior - or his representative - to discuss with the Uzbek side the draft memorandum of understanding for cooperation in the field of civil defense and civil protection between the Government of Saudi Arabia and the Government of the Republic of Uzbekistan, and to sign it.

- Approval of a memorandum of understanding regarding political consultations between the Ministry of Foreign Affairs of Saudi Arabia and the Ministry of Foreign Affairs of the Republic of Nicaragua.

- Authorizing the Minister of Investment - or his representative - to discuss with the Paraguayan side the draft memorandum of understanding between the Government of Saudi Arabia and the Government of the Republic of Paraguay, for cooperation in the field of encouraging direct investment, and to sign it.

- Approval of a memorandum of understanding between the Saudi Oversight and Anti-Corruption Authority and the Federal Integrity Commission of the Republic of Iraq, in the field of preventing and combating corruption.

- Authorizing the Minister of Education, Chairman of the Board of Directors of the General Organization for Technical and Vocational Training - or his representative - to discuss with the Tajik side the draft memorandum of understanding in the field of technical and vocational training between the Saudi General Organization for Technical and Vocational Training and the Committee for Primary and Secondary Vocational Education in the Republic of Tajikistan, and to sign it.

- Approval of the guiding model for a memorandum of understanding for cooperation in the field of the non-profit sector between the National Center for the Development of the Non-Profit Sector in Saudi Arabia and its counterparts in other countries, and authorizing the Minister of Human Resources and Social Development, Chairman of the Board of Directors of the National Center for the Development of the Non-Profit Sector - or his representative - to discuss with the Center’s counterparts in other countries the draft memorandum of understanding for cooperation in light of the aforementioned guiding model, and to sign it.

- Approval of the final accounts of the General Authority for Foreign Trade and the General Authority for Media Regulation for previous fiscal years.

Upgrades:

Approval of promotions to the (fifteenth) and (fourteenth) ranks, as follows:

- Fahd bin Ibrahim bin Nasser Al-Duaida’ was promoted to the position of (Senior Financial Advisor) at the (fifteenth) rank in the Ministry of Finance.

- Mohammed bin Ahmed bin Ali Al-Atrash was promoted to the position of (Senior Business Advisor) at the (fifteenth) rank in the Ministry of Human Resources and Social Development.

- Abdullah bin Saeed bin Ali Batir Al-Ghamdi was promoted to the position of (Senior Business Advisor) at the (fifteenth) rank in the Ministry of Information.

- Salah bin Abdulrahman bin Mohammed Dahlawi was promoted to the position of (Geological Advisor) at the (fourteenth) rank in the Ministry of Industry and Mineral Resources.

The Cabinet also reviewed a number of general topics on its agenda, including annual reports from the General Authority for Ports, the General Presidency of the Commission for the Promotion of Virtue and the Prevention of Vice, and the National Institute for Professional Educational Development. The Cabinet took the necessary action regarding these topics.

The Saudi News Network first launched on Twitter via its official account, @SaudiNews50, and quickly became one of the Kingdom's leading independent news sources, thanks to its fast and reliable coverage of major local and international events. Due to the growing trust of its followers, the network expanded by launching its website, a comprehensive news platform offering regularly updated content in the fields of politics, economics, health, education, and national events, presented in a professional style that meets the public's expectations. The network strives to enhance public awareness and provide accurate information in a timely manner through on-the-ground reporting, in-depth analysis, and a specialized editorial team, making it a trusted source for anyone seeking up-to-the-minute Saudi news.

Politics

Iran: Formation of a temporary leadership council and the start of the transitional phase

Ali Larijani announces the start of the transitional phase in Iran and the formation of a temporary leadership council comprising the president, the head of the judiciary, and a jurist, to manage the country until a successor to Supreme Leader Ali Khamenei is elected.

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Iran: Formation of a temporary leadership council and the start of the transitional phase

The Secretary of Iran's Supreme National Security Council, Ali Larijani, officially announced the start of the transitional phase in the country, confirming that a temporary leadership council would be established very soon to manage state affairs. This pivotal announcement, according to a breaking news report on Iranian state television, marked the beginning of the transitional phase on Sunday, following the announcement of the death of Supreme Leader Ali Khamenei.

Details of the interim leadership council

In detailing the constitutional procedures to be followed, Larijani explained that a "temporary leadership council will be formed soon," referring to the structure of this council as stipulated by the Iranian constitution for emergency situations. This council will assume full responsibility, comprising the president, the head of the judiciary, and a member of the Guardian Council, to ensure the continued functioning of sovereign state institutions until the election of a new leader.

Constitutional context and succession mechanism

This move comes in implementation of Article 111 of the Iranian Constitution, which regulates the transfer of power in the event of the Supreme Leader's death, removal, or incapacitation. Larijani confirmed that the interim leadership council "will assume the duties of the Supreme Leader until a successor to the late Ali Khamenei is elected," emphasizing the speed of the process by saying, "This council will be formed as soon as possible, and we have been working on its formation since today.".

It is worth noting that the Assembly of Experts, composed of 88 elected jurists, will hold emergency and intensive sessions to discuss the selection of the third Supreme Leader of the Islamic Republic, in a process that may take days or weeks, making the role of the interim leadership council vital in maintaining stability during this critical period.

The importance of the event and its regional impact

This event represents a historic turning point in the trajectory of the Iranian political system, given the broad powers vested in the position of the Supreme Leader, which include command of the armed forces, control of the Revolutionary Guard, and the formulation of the country's foreign and strategic policies. The world, as well as regional and international powers, are watching Tehran closely to observe the transfer of power and the smooth functioning of the political process, due to its direct implications for the region's volatile issues, the nuclear agreement, and the geopolitical balance in the Middle East.

In concluding his remarks, which aimed to reassure the Iranian public and send messages of strength abroad, Larijani said: "We stand united against our enemies," referring to internal unity in the face of potential challenges during this critical phase of contemporary Iranian history.

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Saudi Arabia condemns the Iranian attack on Oman and declares its full solidarity

The Kingdom strongly condemns the Iranian attack on the Sultanate of Oman, and affirms its readiness to put all its capabilities at the disposal of Muscat, warning of the consequences of Tehran’s continued undermining of the security and stability of the region.

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Saudi Arabia condemns the Iranian attack on Oman and declares its full solidarity

The Kingdom of Saudi Arabia expressed its strong condemnation and denunciation of the brutal Iranian attack targeting the sisterly Sultanate of Oman, describing it as a blatant violation of the sovereignty of a neighboring state and a founding member of the Gulf Cooperation Council. This firm stance affirms Riyadh's categorical rejection of any infringement upon the security and stability of the Sultanate, emphasizing that this escalation constitutes a serious breach of international norms and conventions that stipulate respect for the sovereignty of states and good neighborliness.

Unlimited Saudi solidarity with Muscat

In an official statement reflecting the depth of fraternal relations and shared destiny, the Kingdom affirmed its commitment to providing all its resources and capabilities to support the Sultanate of Oman in all measures it takes to protect its territory and citizens. Riyadh clarified that Oman's security is an integral part of the Kingdom's security, and that any threat to Muscat is considered a direct threat to Riyadh, thus necessitating a unified Gulf and Arab stance against these transgressions.

Dimensions of the escalation and its impact on the stability of the region

The Kingdom of Saudi Arabia warned of the grave consequences of the Iranian regime's continued hostile policies and violations of state sovereignty, noting that such actions undermine de-escalation efforts and threaten regional and international peace and security. This warning stems from the Kingdom's unwavering commitment to sparing the region the ravages of conflict. However, the escalating aggression necessitates a firm and decisive response to deter any attempts to destabilize the vital Arabian Gulf region, which is crucial to the entire world.

A call for the international community to assume its responsibilities

In closing, the Kingdom called upon the international community and the Security Council to take serious stances and decisive measures against Iran's repeated violations. It stressed that international silence regarding these attacks encourages further chaos, emphasizing the need to activate international mechanisms to hold accountable those who disregard international law, in order to ensure the stability of energy supplies and protect international waterways and navigation, which could be affected by this dangerous escalation.

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Khamenei's assassination and the Gulf escalation: details of the attacks and the targeting of an oil tanker

Comprehensive coverage of the military escalation in the Gulf following the killing of Ali Khamenei. Missile attacks on Gulf states and the targeting of an oil tanker in Oman raise global fears of a full-blown war.

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Khamenei's assassination and the Gulf escalation: details of the attacks and the targeting of an oil tanker

The Middle East and the Arabian Gulf region are witnessing a historic transformation and an unprecedented, dangerous turning point, as the pace of military escalation accelerates dramatically following the announcement of targeted airstrikes that killed Iranian Supreme Leader Ali Khamenei, along with a number of senior military commanders in Tehran. This momentous event has placed the entire region on the brink of a conflagration, with international observers describing it as the most dangerous development in the history of modern regional conflict.

A wave of widespread retaliatory attacks

In an immediate and direct response, the Gulf Cooperation Council (GCC) countries today witnessed a fierce wave of Iranian retaliatory attacks. Swarms of drones and ballistic missiles targeted the infrastructure and airspace of the United Arab Emirates, Qatar, Bahrain, Oman, and Kuwait. Despite the intensity of the attacks, the advanced air defense systems of the Gulf states successfully intercepted the vast majority of these threats. However, the explosions and air raid sirens triggered widespread panic and disruption to civil aviation, and cast a dark shadow over financial markets, which experienced sharp fluctuations.

Targeting shipping lanes in Oman

In a significant development that threatens global energy security, an oil tanker was directly attacked off the coast of Oman, specifically five miles north of the strategic port of Khasab. The attack resulted in injuries to four people, necessitating the immediate evacuation of the entire crew. The Omani News Agency confirmed the injuries, further escalating the risks posed by the Strait of Hormuz.

Strategic context and international importance

This escalation cannot be understood in isolation from the geopolitical importance of the Gulf region, a vital artery for the global economy. The Strait of Hormuz, located near the site of the tanker attack off Khasab, sees approximately 20% of the world's oil supply pass through it daily. Targeting oil tankers evokes memories of the "Tanker War" of the 1980s, but today it occurs against a backdrop of more sophisticated and precise missile arsenals, placing a heavy responsibility on the international community to ensure freedom of navigation.

Expected repercussions

Strategic analysts believe that the assassination of a figure as significant as Ali Khamenei represents a breach of traditional rules of engagement, potentially pushing the region toward a protracted, open-ended conflict. The repercussions will not be limited to the military sphere; they will extend to a dramatic surge in oil prices and maritime insurance costs, as well as a reshaping of regional security alliances to address the potential leadership vacuum in Tehran and anticipated retaliatory actions.

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