Saudi Arabia Amends Import Licenses for Fruits, Vegetables

Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
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Saudi Arabia Amends Import Licenses for Fruits, Vegetables

Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)

Saudi Arabia has amended its import licensing guide by adding fresh fruits and vegetables so that the Ministry of Environment, Water, and Agriculture will be the competent authority to issue these licenses, Asharq Al-Awsat learned.

Minister of Commerce Majid al-Qasabi issued a ministerial decision to add fresh fruits and vegetables to the import licensing directory, specifying the requirements, notably that the importer, whether a Saudi or a foreign investor, must be authorized.

The Ministry announced the amendment of the import licenses guide for the public via the Public Consultation Platform (Istitlaa).

It indicated that based on Paragraph (A) of Item (Third) of the Import Licenses Guide, issued by the decision of the Minister of Commerce, which resulted in amending the Import Licenses Guide by adding paragraph No. (6) to Paragraph (E) of Clause Fourth, “regulating the requirements for licenses to import fresh vegetables and fruits into the Kingdom.”

The new requirements on imported goods seek to protect humans and plants, using the international standards of the International Plant Protection Convention, which requires the monitoring of the market and collecting trade statistics.

It was essential to organize and control vegetables and fruits imported to Saudi Arabia, which led to the development of procedures to keep pace with the changes.

The Ministry of Environment, Water, and Agriculture has set controls for importing vegetables and fruits from outside the Kingdom to protect plants, support and sustain local production, and control the quality to enhance food security.

The import permit must be issued electronically within a period not exceeding three working days from the date of submitting the application, after including a copy of the commercial register or foreign investment license and specifying the imported items and quantities, import date, and the country of origin.

Under the Foreign Investment Law, the importer must be a legal Saudi licensed to practice the activity or a foreign investor licensed to practice the activity.

The importers are divided into two categories. Category (A) grants a renewable ten-year license, provided that he proves real estate ownership of the warehouses and refrigerators where shipments will be stored or commercial centers to promote the products. He must also offer ownership proof of refrigerated vehicles.

Category (B) receives a three-year license, subject to renewal. The e-permits must specify the imported items and quantities, the date of import, the country of export, the license number and date, the point of entry, the net weight and type of the shipment, and the validity period of the import permit, provided that it doesn’t exceed 60 days from the issuance date.

The Ministry and the Food and Drug General Authority can take samples from the shipment for testing in approved laboratories inside or outside the Kingdom.

The shipment must be entered through the entry point specified in the import permit.

The importer is not granted permission if he has not previously obtained an import license issued by the agent, and the permit can be extended for three days after the original period has expired.

The import permit is revoked in the event of a pandemic outbreak in the export country before launching the shipment.



Saudi Energy Minister Says Kingdom Remains Reliable, Flexible Supplier

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
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Saudi Energy Minister Says Kingdom Remains Reliable, Flexible Supplier

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

Saudi Energy Minister Prince Abdulaziz bin Salman seized the spotlight at a high-level dialogue session held during the 2026 St. Petersburg International Economic Forum, breaking a strategic silence that had become a focus of questions and a gauge for global market expectations.

Speaking on Thursday, he delivered carefully calibrated messages to the energy sector, stressing that the world urgently needs stability in energy markets and declaring with confidence that the Kingdom is a flexible energy supplier, was, and will remain so under all circumstances.

In his remarks during a special session at the forum, where the Kingdom is taking part as “main guest of honor” as the two countries mark the centenary of diplomatic relations, Prince Abdulaziz acknowledged that current geopolitical events in the Middle East were distracting attention and obstructing focus on Saudi Arabia’s strategic priorities, foremost among them the goals of Vision 2030.

He described the situation as a source of considerable frustration.

Even so, he sent a strong message of reassurance to global markets, saying in a firm tone that it was their duty, and that of every Saudi citizen, to defy this difficult environment and continue to pursue their ambitions.

The Kingdom has the capability and confidence to address challenges and demonstrate its economic and operational resilience, he added.

He pointed to what he described as the success of Saudi Arabia’s infrastructure and logistics system in turning tragedies into opportunities, and in managing the Hajj season with unprecedented success despite the surrounding regional turmoil.

On the partnership with Moscow, the Saudi Energy Minister announced the signing of 30 new cooperation agreements between the private sectors in the two countries across fields including industry, education, tourism, and energy.

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

Prince Abdulaziz said the Kingdom will sign agreements across various fields and that there are no limits or restrictions on joint cooperation.

He added that the strategic mindset in Riyadh and Moscow had moved beyond being merely “producers of oil or gas” to “manufacturing and supplying energy in its comprehensive sense,” including hydrocarbons and the export of electrons.

In an explanation of his earlier position, which had kept oil traders on edge, Prince Abdulaziz said he had deliberately remained silent during the period that witnessed one of the most severe global energy crises.

A minister is required to maintain his composure and not panic, because panic makes a person lose control of the narrative, he explained.

He moved on to express his intention to maintain silence, because silence amid many unknowns is a message and a humble acknowledgment that reality is changing quickly, and is a form of respect for oneself and for others.

He concluded his assessment of current market conditions with a pointed remark reflecting the scale of uncertainty clouding the global scene.

“The situation we’re going through now does make a point here, which is the world needs every molecule of energy, and every form of stabilization to this energy, because without energy security, you will lose sustainability,” the Saudi minister said.

“There are so many moving parts, there are so many unknowns, there are things that you think have become a reality, but then you wake up in the next morning and the reality is no longer a reality.”

Novak says the market faces a 12 million barrel shortfall

For his part, Russian Deputy Prime Minister Alexander Novak described the current crisis in the international oil market as unprecedented, with no parallel even in the 20th century.

Novak said Russia would deal with the Western sanctions imposed on it with flexibility and complete calm, given its position as a key supplier of energy resources to the international market.

He warned of a large, hidden shortfall in global supply, estimated at about 12 million barrels per day that are currently not reaching the market.

He said global markets had not yet felt the full impact of the energy crisis caused by the Middle East conflict because the situation was being managed through withdrawals from surplus reserve inventories.

Novak cautioned that if the conflict continues and Gulf states delay increasing production, the market will face an acute and immediate physical shortage of supplies within a few months.

In his analysis of the producers’ alliance, Novak stressed that the OPEC+ agreement remains a key driver of energy market direction.

He said its members control more than 50% of global production and more than 40% of total exports, adding that the agreements have proven highly efficient at curbing volatility and reducing market fluctuations.

Novak said current data gave countries an opportunity to accelerate compliance, describing the existing approach as a “standard and normal course” that allows countries that had previously exceeded their quotas for any reason to implement compensation plans for their earlier overproduction more quickly.

On Russia, Novak said technical analytical calculations to determine Russia’s maximum production ceiling are continuing in cooperation with the companies concerned, and would be discussed with partners by the end of 2026.

He expected Moscow to effectively reach its assigned production levels this year under the agreed quotas, despite current output being slightly lower than at the start of the year because several refineries were undergoing “emergency and unscheduled maintenance.”

Expectations of strong demand

OPEC Secretary General Haitham Al Ghais said the organization expects robust oil demand growth and would not change its estimates despite the conflict in the Middle East and the closure of the Strait of Hormuz.

“Despite all the commentary out ⁠there that oil demand is declining, we have not registered signs of that yet,” Al Ghais said.

“We still see robust demand growth at 1.2 million barrels a day for this year,” he said.

He also said investment in the oil sector should not be affected by "one-off events" that may occur anywhere in the world.

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi told the session that renewable energy is a top priority to reduce dependence on natural gas. He said Egypt is working hard to increase electricity generation from wind and hydropower to secure a sustainable energy mix.

Markets hold their breath before the Sunday marathon

The remarks made at the forum on Thursday carry major significance as a prelude and practical indicator of the direction of leading producers ahead of decisive oil-related meetings next Sunday.

That day will see three consecutive meetings, beginning with OPEC’s administrative conference, followed by the 66th meeting of the Joint Ministerial Monitoring Committee, or JMMC, which is responsible for monitoring compliance levels, consensus, and the approval of current compensation plans.

Investors are closely watching the 41st ministerial meeting of the OPEC+ alliance. Informed sources said the alliance is likely to approve an additional gradual increase in its targets for next July.


OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
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OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

OPEC expects robust oil demand growth and is not changing its estimates, Secretary General Haitham Al Ghais said on Thursday at the St. Petersburg International Economic Forum, despite the Middle East conflict and closure of the ⁠Strait of Hormuz.

"Despite ⁠all the commentary out there that oil demand is declining, we have not registered signs of that yet," ⁠Reuters quoted Al Ghais as saying.

"We still see robust demand growth at 1.2 million barrels a day for this year," he said.

He also said that investments in the oil industry should not be affected by "one-off events" that happen ⁠anywhere ⁠in the world.

"We need to invest well ahead of time to be prepared for the demand that we see in the future," he said.


Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
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Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)

Egypt aims to list four to five state-owned companies on the Cairo stock exchange before the end of the year as part of its state asset sales strategy, Prime Minister Mostafa Madbouly said on Thursday.

The government also plans to shift from in-kind subsidies to cash subsidies during the coming financial year, as part of efforts to improve the targeting of social support, Madbouly said at a press conference, Reuters reported.

It does not aim to reduce the monetary value of subsidies but rather ensure they reach those entitled to receive them, he added.

More than 60 million people receive subsidised essential commodities through state-run outlets, while at least 10 million others benefit from subsidised bread.