Saudi Sherpa Discusses Priorities of G20 Meetings in India

The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
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Saudi Sherpa Discusses Priorities of G20 Meetings in India

The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)
The Saudi Sherpa held a workshop with representatives of the participating parties in the G20 meetings. (Asharq Al-Awsat)

Saudi officials reviewed the priorities of the G20 for the current year, which include supporting global economic growth in light of geopolitical tensions, strengthening global value chains and flexible logistics services, in addition to a range of issues related to health, energy, food security, education, tourism, the labor market and the digital economy.

These discussions were held during a workshop held by the Saudi Ministry of Finance that brought together the Saudi Sherpa Office and representatives of relevant government agencies.

The workshop provided an overview of the G20 agenda under the Indian Presidency for the year 2023 and discussed Saudi Arabia’s role within the group, in addition to means to maximize the benefits of the initiatives launched by the Kingdom during its presidency of the G20 in 2020.

Participants also discussed the roadmap and the Kingdom’s participation in the group’s meetings leading to the summit of leaders of the G20 countries, which will be held in New Delhi on Sept. 9-10, 2023.

The Sherpa is an envoy representing a head of a government participating in the main agenda prior to the convening of the summits of the leaders of the G20 countries, with the aim of preparing for negotiations that culminate in the agreement on the final statements issued by those summits.

The Group of Twenty (G20) comprises 19 countries, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom and United States, in addition to the European Union.

The G20 members represent around 90 percent of the global GDP, over 80 percent of the global trade, and about two-thirds of the world population.



Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
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Oil Prices Jump More than 5% after Israel Strikes Iran

An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo
An oil pump is seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 18, 2015. REUTERS/Isaac Urrutia/File Photo

Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies.

Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April 3. US West Texas Intermediate crude was up $4.09, or 6.01%, at $72.13 a barrel, Reuters reported.

Israel said early on Friday that it struck Iran, and Iranian media said explosions were heard in Tehran as tensions mounted over US efforts to win Iran's agreement to halt production of material for an atomic bomb.

"The Israeli attack on Iran has heightened the risk premium further," MST Marquee senior energy analyst Saul Kavonic said.

"The conflict would need to escalate to the point of Iranian retaliation on oil infrastructure in the region before oil supply is actually materially impacted," he said, adding that Iran could hinder up to 20 million barrels per day of oil supply via attacks on infrastructure or limiting passage through the Strait of Hormuz in an extreme scenario.