Colombia to Suspend Coal Sales to Israel Over Gaza War

The move is an escalation in a clash between two countries that have historically had warm relations, and which have had a free-trade agreement in force since 2020.Photographer: Jack Guez/AFP/Getty Images
The move is an escalation in a clash between two countries that have historically had warm relations, and which have had a free-trade agreement in force since 2020.Photographer: Jack Guez/AFP/Getty Images
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Colombia to Suspend Coal Sales to Israel Over Gaza War

The move is an escalation in a clash between two countries that have historically had warm relations, and which have had a free-trade agreement in force since 2020.Photographer: Jack Guez/AFP/Getty Images
The move is an escalation in a clash between two countries that have historically had warm relations, and which have had a free-trade agreement in force since 2020.Photographer: Jack Guez/AFP/Getty Images

Colombian President Gustavo Petro announced Saturday that his country will suspend coal exports to Israel as a rebuke against its deadly war against Hamas in Gaza.

Colombia is Israel's main coal supplier with exports of some $450 million in 2023, according to the Israeli embassy in Bogota, which remains operational despite Petro's government severing diplomatic ties in May, AFP reported.

Petro, Colombia's first leftist president and a fierce critic of Israeli Prime Minister Benjamin Netanyahu, said Saturday on X that coal exports to Israel would be suspended "until the genocide stops."

A government decree specified that the restrictions would remain "until the orders of provisional measures issued by the International Court of Justice (ICJ)... are fully complied with."

In late May, as part of a pending case brought by South Africa, the ICJ ordered Israel to halt its offensive on the southern Gaza city of Rafah, while also demanding the release of hostages and the "unhindered provision" of humanitarian aid into the Palestinian territory.

According to the Colombian government, the coal export ban will enter into force five days after the decree is published in the official gazette and will not affect goods that have already been authorized for shipment.

Bogota underscored coal's role as "a "strategic resource for the manufacture of weapons, the mobilization of troops and the manufacture of provisions for military operations."

Petro also said Colombia would stop purchasing weapons made by Israel, one of the main suppliers of the South American country's security forces.

On Thursday, the Colombian Mining Association expressed concern over the possibility of exports being suspended, noting a trade treaty between the two nations in place since 2020.

"Israel is a key destination for Colombia's thermal coal exports," the organization said in a statement, adding that banning shipments "jeopardizes confidence in markets and foreign investment."

Petro announced Colombia would sever ties with Israel in May over the Gaza conflict and open an embassy in Ramallah in the Palestinian territories.



Saudi Arabia's Trade Surplus Hits Record High of Over SAR41.411 Billion

Saudi Arabia's Trade Surplus Hits Record High of Over SAR41.411 Billion
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Saudi Arabia's Trade Surplus Hits Record High of Over SAR41.411 Billion

Saudi Arabia's Trade Surplus Hits Record High of Over SAR41.411 Billion

Saudi Arabia’s trade balance reached a surplus of SAR41.411 billion in April 2024, which is the highest level so far this year, according to the preliminary international trade data released by the General Authority for Statistics (GASTAT) on Thursday.

The data shows a 36% monthly growth and an increase of SAR10.967 billion compared to the surplus of SAR30.443 billion posted in March of the same year. The trade balance has grown by over 48.5% since the beginning of the year, with an increase of SAR13.525 billion, as it stood at SAR27.885 billion in January.

The Kingdom's total international trade exceeded SAR162 billion, with goods exports reaching SAR101.708 billion, accounting for 63% of total trade. Goods imports reached SAR60.297 billion. Non-oil domestic exports amounted to SAR16.234 billion in April 2024, representing 16% of total exports. Oil exports amounted to SAR79.326 billion, accounting for 78% of total exports, while re-exports value reached SAR6.147 billion, representing 6% of total exports.

In April 2024, the Asian group of countries, excluding Arab and Islamic countries, topped the group of importing countries, accounting for 50.2% of the Kingdom's total goods exports, with a value of SAR51.094 billion. The European Union group of countries was second, accounting for 16.5% of total goods exports, with a value of SAR16.757 billion. The Gulf Cooperation Council (GCC) group of countries was third, accounting for 12.4% of total goods exports, with a value of SAR12.562 billion.

In terms of exports by country, China was the largest importer, accounting for 16.6% of the Kingdom's total goods exports, with a value of SAR16.925 billion in April 2024, while Japan followed with a value of SAR9.321 billion and a share of 9.2% of total goods exports. India was third as the largest importer, with a value of SAR8.250 billion and a share of 8.1% of total goods exports.

Non-oil exports, including re-exports, passed through 29 diverse customs outlets and ports (sea, land, and air), with a preliminary value of SAR22.382 billion. King Fahd Industrial Port in Jubail achieved the highest value among all available means of transport and different outlets, with a value of SAR3.594 billion, or 16.1% of the total.