Saudi-French Agreements Boost Aviation Safety

Saudi Minister of Transport Saleh al-Jasser and French Minister of Transport, Jean-Baptiste Djebbari sign the cooperation agreement. (SPA)
Saudi Minister of Transport Saleh al-Jasser and French Minister of Transport, Jean-Baptiste Djebbari sign the cooperation agreement. (SPA)
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Saudi-French Agreements Boost Aviation Safety

Saudi Minister of Transport Saleh al-Jasser and French Minister of Transport, Jean-Baptiste Djebbari sign the cooperation agreement. (SPA)
Saudi Minister of Transport Saleh al-Jasser and French Minister of Transport, Jean-Baptiste Djebbari sign the cooperation agreement. (SPA)

French President Emanuel Macron will visit Saudi Arabia next year to further boost the strategic partnership between the two countries and create long-term sustainable development, announced French Transport Minister, Jean-Baptiste Djebbari.

The Minister told Asharq Al-Awsat that he discussed issues of bilateral interest with the Saudi Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation Saleh al-Jasser.

On Sunday, Djebbari and Jasser signed a joint cooperation agreement in civil aviation, air transport programs, and cooperation in safety and security projects in the aviation sector.

The agreement includes an executive program to enhance cooperation between the two sides in all transport and logistics systems.

It also takes advantage of modern and future technologies in developing multiple modes of transportation and contributes to achieving the objectives of the Saudi national strategy for transport and logistics to consolidate the Kingdom's position as a global logistics hub.

Djebbari explained that he discussed with Minister of Investment Khalid al-Falih bolstering joint investments in areas of high added value, especially technological industries, artificial intelligence, and infrastructure, in light of giant projects seeking digitization and automation, such as the NEOM project.

The French Minister also indicated that he explored with Saudi officials the investment opportunities in creative projects, saying they are a "fertile environment" for increasing cooperation in the technical and technological fields.

The transport and train project in Riyadh is a crucial investment to increase cooperation between the two countries, in light of ongoing efforts to open these projects next year, said Djebbari.

During his interview with Asharq Al-Awsat, he also announced that the meeting addressed cooperation in aviation projects, artificial intelligence, innovation technology, and digitization.

"I will return to Riyadh as part of the delegation of President Macron's visit to Saudi Arabia next year," he announced.

Djebbari stressed that Macron's visit comes within the framework of strengthening the strategic partnership that benefits both countries and peoples, highlighting a common desire to enhance cooperation in the technological field and technical industries.

The Saudi Green Initiative and the Middle East Green Initiative are global because they address the world's primary concerns, namely the challenges of climate change.

The two countries will continue to boost their cooperation to help improve the quality of life and address the carbon economy.

He pointed out that the initiatives launched by Saudi Arabia develop solutions to the challenges recently addressed by the UN Climate Change Conference (COP26) in Glasgow, stressing that hydrogen and clean energy products are essential in the sustainability of the transport and aviation sectors.

The two countries face common challenges, said Djebbari, adding there is a need to ensure large investments in the transport, aviation, and logistics sectors.

"I think it is time for a long-term investment in our strategic partnership to achieve all the desired goals and long-term sustainable development," said the Minister, noting that it will generate value-added economic and investment opportunities, expand trade, and create job opportunities for young people.



US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo

The United States imposed new sanctions on Russia's Gazprombank on Thursday, the Treasury Department said, as President Joe Biden steps up actions to punish Moscow for its invasion of Ukraine before he leaves office in January.
The move, which wields the department's most powerful sanctions tool, effectively kicks Gazprombank out of the US banking system, bans its trade with Americans and freezes its US assets, Reuters reported.
Gazprombank is one of Russia's largest banks and is partially owned by Kremlin-owned gas company Gazprom. Since Russia's invasion in February 2022, Ukraine has been urging the US to impose more sanctions on the bank, which receives payments for natural gas from Gazprom's customers in Europe.
The fresh sanctions come days after the Biden administration allowed Kyiv to use US ATACMS missiles to strike Russian territory. On Tuesday, Ukraine fired the weapons, the longest range missiles Washington has supplied for such attacks on Russia, on the war's 1,000th day.
The Treasury also imposed sanctions on 50 small-to-medium Russian banks to curtail the country's connections to the international financial system and prevent it from abusing it to pay for technology and equipment needed for the war. It warned that foreign financial institutions that maintain correspondent relationships with the targeted banks "entails significant sanctions risk."
"This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military," Treasury Secretary Janet Yellen said. "We will continue to take decisive steps against any financial channels Russia uses to support its illegal and unprovoked war in Ukraine."
Gazprombank said Washington's latest move would not affect its operations. The Russian embassy in Washington did not respond to requests for comment.
Along with the sanctions, Treasury also issued two new general licenses authorizing US entities to wind down transactions involving Gazprombank, among other financial institutions, and to take steps to divest from debt or equity issued by Gazprombank.
Gazprombank is a conduit for Russia to purchase military materiel in its war against Ukraine, the Treasury said. The Russian government also uses the bank to pay its soldiers, including for combat bonuses, and to compensate the families of its soldiers killed in the war.
The administration believes the new sanctions improve Ukraine's position on the battlefield and ability to achieve a just peace, a source familiar with the matter said.
COLLATERAL IMPACT
While Gazprombank has been on the administration's radar for years, it has been seen as a last resort because of its focus on energy and the desire to avoid collateral impact on Europe, a Washington-based trade lawyer said.
"I think that the current administration is trying to put as much pressure and add as many sanctions as possible prior to January 20th to make it harder for the next administration to unwind," said the lawyer, Douglas Jacobson.
Officials in Slovakia and Hungary said they were studying the impacts of the new US sanctions.
Trump would have the power to remove the sanctions, which were imposed under an executive order by Biden, if he wants to take a different stance, Jacobson said.
After Russia's invasion in 2022, the Treasury placed debt and equity restrictions on 13 Russian firms, including Gazprombank, Sberbank and the Russian Agricultural Bank.
The US Treasury has also worked to provide Ukraine with funds from windfall proceeds of frozen Russian assets.