US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
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US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)

Former US officials predicted that the Saudi talks at the White House will focus on three main pillars that would pave the way for regional stability and stimulate economic investments.

Scott Pruitt, former Administrator of the Environmental Protection Agency (EPA), said the first pillar is “security and regional architecture. Second is energy, not only oil and gas, but also hydrogen, ammonia, and critical minerals that will power the next generation of industry. The third is investment and technology.”

Prince Mohammed bin Salman, Crown Prince and Prime Minister, had arrived in the US on Tuesday where he held talks with President Donald Trump that focused on consolidating the strategic partnership between their countries. Numerous agreements were announced on the sidelines of the visit.

Pruitt told Asharq Al-Awsat that the relationship between Saudi Arabia and the US “has moved from transactional to strategic.”

“When I first engaged on these issues in government, the focus was largely energy supply and security guarantees. Today, we see structured strategic dialogues, US companies embedded in Saudi mega-projects, two-way investment flows, and growing cooperation in space, digital infrastructure, and advanced industry,” he added.

“The Kingdom’s reforms and Vision 2030 agenda have opened new sectors, tourism, entertainment, logistics, where American firms are natural partners. In short, the cooperation is deeper, more diversified, and more forward-looking than at any other time in our history,” he stressed.

“Visits at this level do two critical things: they set direction and they de-risk action,” Pruitt went on to say. “This meeting can give political backing to move from talking points to term sheets, advancing joint ventures in defense and space, localizing manufacturing in the Kingdom, and forming long-term offtake and investment agreements.”

“As a former regulator, I also see a crucial opportunity for the US and Saudi Arabia to shape the standards and ‘rules of the road’ for these new energy and technology sectors together, instead of leaving that space to others. If that happens, trade, co-investment, and technology transfer will not just increase, but will be anchored in a shared strategic framework that benefits both nations for decades,” he stressed.

Strategic industries

Brian D. Ballard, founder of Ballard Partners, told Asharq Al-Awsat that the Crown Prince’s visit “underscores the renewed strength and shared vision of Saudi-American relations under Trump’s leadership. This visit comes at a pivotal moment as both nations advance a common agenda of security, investment, and innovation.”

“Trump and the Crown Prince are expected to focus on deepening cooperation in defense, trade, and energy - pillars of a partnership that continues to drive prosperity and stability across both nations,” he continued.

“The US-Saudi relationship has reached new heights, grounded in mutual respect and economic opportunity. Under Trump’s leadership, we’ve seen exceptional momentum in technology transfer, energy diversification, and private-sector engagement aligned with Vision 2030,” he remarked.

“This visit will further expand collaboration in strategic industries - from defense and space to renewable energy and hydrogen - cementing the US-Saudi partnership as one of the most consequential alliances shaping the global future,” he added.

Emerging technologies

Edward Mermelstein, former New York City Commissioner for International Affairs, said the Crown Prince’s visit “has the potential to accelerate cooperation” between the Kingdom and the US.

In remarks to Asharq Al-Awsat, he noted that “Saudi Arabia is advancing some of the world’s most ambitious green energy projects, including major investments in hydrogen and ammonia production.”

“Security and energy will always remain essential pillars of the relationship, but the most forward-looking conversations will center on emerging technologies, supply-chain resilience, advanced manufacturing, and economic diversification,” he went on to say.

“The US offers unparalleled expertise in advanced technology, clean energy engineering, defense innovation, and space science,” he said.

“During my tenure as Commissioner for International Affairs in New York City, I saw significant Saudi interest in our city’s leadership in artificial intelligence, life sciences, and urban innovation. At the same time, American companies are increasingly drawn to the scale and ambition of projects underway in the Kingdom.”

“A stronger federal relationship will accelerate what is already happening at the city level. New York and Riyadh are natural partners in creating tech ecosystems, supporting investment platforms, and building the next generation of sustainable and digital infrastructure,” Mermelstein remarked.

“The Crown Prince’s visit adds political support to these efforts and will speed the movement of capital, talent, and technology,” he said.

“This visit arrives at a moment when both countries are looking to deepen cooperation that delivers practical results. Throughout my years of working closely with the Saudi Consulate in New York and engaging with Saudi delegations across business, culture, and technology, I witnessed how Vision 2030 has already reshaped conversations in the United States,” he stated.

“The Crown Prince’s visit elevates that progress to the national level. It signals that both governments are ready to translate shared ambitions into action. For major cities like New York and Riyadh, this creates new opportunities to expand collaboration in technology, investment, education, cultural exchange, and sustainable development. It reinforces a partnership that is already producing real impact on the ground,” he added.



Hapag-Lloyd Says One Ship Has Crossed Strait of Hormuz

Hapag-Lloyd employees monitor the status of cargo ships in the Strait of Hormuz on a screen, in Hamburg, Germany, Wednesday, April 15, 2026. (AP Photo/Ebrahim Noroozi)
Hapag-Lloyd employees monitor the status of cargo ships in the Strait of Hormuz on a screen, in Hamburg, Germany, Wednesday, April 15, 2026. (AP Photo/Ebrahim Noroozi)
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Hapag-Lloyd Says One Ship Has Crossed Strait of Hormuz

Hapag-Lloyd employees monitor the status of cargo ships in the Strait of Hormuz on a screen, in Hamburg, Germany, Wednesday, April 15, 2026. (AP Photo/Ebrahim Noroozi)
Hapag-Lloyd employees monitor the status of cargo ships in the Strait of Hormuz on a screen, in Hamburg, Germany, Wednesday, April 15, 2026. (AP Photo/Ebrahim Noroozi)

Container shipping group Hapag-Lloyd said on Friday that one of its ships has crossed the Strait of Hormuz but did not have any information on the circumstances or timing.

Four out of initially six ships remain in the Gulf, after one ship's charter agreement expired, meaning it no longer belongs to the Hapag-Lloyd fleet, a spokesperson added.

The four ⁠Hapag ships remaining ⁠in the Gulf are staffed with 100 crew, who are well-supplied with food and water, Reuters quoted him as saying.

Scores of tankers and other vessels remain stuck in the Gulf as the United States is ⁠struggling to keep control of the Strait of Hormuz, one of the world's busiest shipping corridors.

The Iran war, launched by the US and Israel on February 28, has been paused since a ceasefire on April 8.

The US and Iran met in Pakistan in an attempt to end hostilities, but talks ended without agreement and ⁠a ⁠second round has yet to take place.

Tehran says it will not consider opening the strait until the US lifts its blockade of Iran's shipping, which Washington imposed during the ceasefire and Tehran calls a violation of that truce.

This week, Iran flaunted its grip over the strait with a video of commandos in a speedboat storming a huge cargo ship.


TotalEnergies to Invest in $1.2 Billion Power Project in Kazakhstan

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
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TotalEnergies to Invest in $1.2 Billion Power Project in Kazakhstan

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Paris, France, March 25, 2026. REUTERS/Abdul Saboor/File Photo

French energy major TotalEnergies on Friday said it would invest in a Kazakhstan-based onshore wind and energy storage project, valued at $1.2 billion, and plans to sell the produced electricity to the country's government under a 25-year agreement signed in 2023.

The Mirny project, which is scheduled to reach full capacity in 2029, ⁠combines one gigawatt ⁠of wind capacity with 600 megawatt hours of battery energy storage, enough to supply about 1 million people in Kazakhstan, Reuters quoted the company as saying.

The launch of the project would ⁠contribute to Kazakhstan's target of increasing the share of renewables in electricity generation to 15% by 2030, Olivier Jouny, senior vice president for renewables at TotalEnergies, said in a statement.

Roughly 75% of the investment is financed externally through an agreement with an international consortium made of eight banks and entities, including the ⁠European ⁠Bank for Reconstruction and Development, Société Générale and China Construction Bank, TotalEnergies said.

TotalEnergies, jointly with partners Samruk Energy and KazMunayGas, controls a 60% stake in the project.

At the beginning of 2026, TotalEnergies had more than 34 GW of gross renewable power generation capacity, and it aims to achieve more than 100 terawatt hours of net electricity production by 2030.


Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
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Oil Rises on Concern Over Escalating Middle East Tensions

HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP
HUNTINGTON BEACH, CALIFORNIA - APRIL 23: A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. Mario Tama/Getty Images/AFP

Oil rose on Friday on concerns of a renewed military escalation in the Middle East after Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz, and a lack of progress in re-opening the key waterway.

Navigation through the strait, which before the war carried about a fifth of global oil output, remains effectively blocked. Iran's capture of two cargo ships highlighted Washington's difficulties in trying to control the passage.

Brent crude futures were up $1.93, ⁠or 1.8%, to $107 a ⁠barrel at 0805 GMT, while US West Texas Intermediate futures were up 76 cents, or 0.8%, at $96.61, Reuters reported.

For the week, Brent is up 18% and WTI 15%, the second-largest weekly gains since the war began.

Both contracts settled more than 3% higher on Thursday after reports that air defenses were engaging targets over Tehran and of a ⁠power struggle between Iran's hardliners and moderates.

"There is no de-escalation in sight," said Tamas Varga of oil broker PVM.

US President Donald Trump said Iran may have loaded up its weaponry "a little bit" during a two-week ceasefire, but added that the US military could eliminate it in a single day. On Wednesday, he said he would indefinitely extend the ceasefire to allow for further peace talks.

The ceasefire is increasingly looking like a preparatory phase for more war, Haitong Futures said in a report. If peace talks fail to make ⁠progress by ⁠the end of April and fighting resumes, oil prices could climb to new highs for the year, it added.

"There's set to be fresh financial pain ahead as key shipments from the region remain blocked," said Susannah Streeter, chief investment strategist at UK investment service Wealth Club. "That is set to keep costs elevated for a vast array of commodities."

As investors and governments around the world look for a lasting peace, Trump said he would not set a "timetable" for ending the conflict and that he wanted to make "a great deal."

"Don't rush me," he said when asked how long he was willing to wait for a long-term deal.