3rd Day of COP27 Witnesses International Initiatives

Saudi delegation attending a session at COP27 (AP)
Saudi delegation attending a session at COP27 (AP)
TT

3rd Day of COP27 Witnesses International Initiatives

Saudi delegation attending a session at COP27 (AP)
Saudi delegation attending a session at COP27 (AP)

The third day of the UN's climate change summit (COP27) in Sharm El-Sheikh witnessed several international proposals and initiatives in an effort to solve the exacerbating environmental crises.

The participants discussed the Blue Mediterranean Partnership, which focuses on the Mediterranean countries and their marine environments and "displacement related to climate change," seeking to boost efforts to protect the climate.

During a session attended by Asharq Al-Awsat on promoting solutions to the climate-related displacement crisis, the speakers stressed that the opportunities offered by the summit take into account the economic damages that are reflected on displaced persons due to climate change.

They also discussed the countries that suffer from displacement problems.

The attendees stressed the importance of international initiatives that include the affected countries as part of the societal contribution to cooperate in solving the repercussions of climate crises on economic indicators.

On the sidelines of the summit, the Minister of Peacebuilding in South Sudan, Stephen Par Kuol, told Asharq Al-Awsat that his country currently suffers from climate change, unlike the countries who discuss the future impact of the problem.

Par Kuol noted that an essential aspect of attending COP27 is to find solutions through international cooperation and the initiatives that have been launched or will be launched during the conference.

He hoped the discussions would consider the people economically and socially affected by the crisis.

Meanwhile, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the Union for the Mediterranean (UfM) announced the creation of the Blue Mediterranean Partnership.

The Partnership aims to support the development of a sustainable blue economy in the EU's Southern Neighborhood countries in the Mediterranean region.

The Blue Mediterranean Partnership is the partners' response to the commitments made at the EU level to integrate the blue economy into the Green Deal fully, the priorities outlined in the EU's new Agenda for the Mediterranean, the Union for the Mediterranean ministerial declaration on sustainable blue economy and the UfM blue economy agenda as well as to the environmental challenges faced by the Mediterranean region.

The Partnership has received comprehensive political support, including from the European Commission.

It aims to bring international donors, beneficiary countries, interested financial institutions, and philanthropies to support policy reforms, attract donor funding, and mobilize public and private financing for projects initially in Egypt, Jordan, and Morocco.

Egypt Minister of Environment and COP27 Envoy Yasmine Fouad said that Egypt understands the critical importance of a sustainable blue economy for the future development of our country.

"As host of COP27, we want to stress the integral role of the seas and oceans in climate action. The proposed Blue Mediterranean Partnership is fully aligned with our new National Climate Change Strategy 2050, and we are keen to cooperate with international partners and financial institutions."

UfM Secretary General Nasser Kamel said: "We are raising the bar on our collective ambitions of governments, civil society, research, and the private sectors to ensure that maritime activities are sustainable, innovative, and job-creation oriented and address the main challenges of our times."

Kamel said that the meetings also tackle important drivers for the recovery from the pandemic and the long-term restructuring of the sector.



Bahrain to Host Gulf Ministerial Meeting to Discuss Regional Developments

The 167th Ministerial Council meeting of the Gulf Cooperation Council (GCC) will be held in Bahrain on Wednesday. (AFP)
The 167th Ministerial Council meeting of the Gulf Cooperation Council (GCC) will be held in Bahrain on Wednesday. (AFP)
TT

Bahrain to Host Gulf Ministerial Meeting to Discuss Regional Developments

The 167th Ministerial Council meeting of the Gulf Cooperation Council (GCC) will be held in Bahrain on Wednesday. (AFP)
The 167th Ministerial Council meeting of the Gulf Cooperation Council (GCC) will be held in Bahrain on Wednesday. (AFP)

Bahrain is hosting on Wednesday the 167th Ministerial Council meeting of the Gulf Cooperation Council (GCC) to discuss regional and international developments.

It will be held under the chairmanship of Bahrain’s Minister of Foreign Affairs and current President of the Ministerial Council Dr. Abdullatif bin Rashid Al Zayani, with the participation of GCC foreign ministers.

The third joint ministerial meeting of the GCC-Canada Strategic Dialogue will also be held on the sidelines. Canadian Minister of Foreign Affairs Anita Anand is expected to attend.

GCC Secretary-General Jasem Albudaiwi said the ministerial council will review reports on the implementation of decisions issued by the GCC Supreme Council's 46th summit, held in Manama in December 2025.

The council will discuss memoranda and reports submitted by ministerial and technical committees and the General Secretariat, as well as matters related to strategic dialogues and relations between GCC member states and international countries and blocs.

Albudaiwi said the third joint GCC-Canada Strategic Dialogue Ministerial Meeting will tackle several issues, including ways to deepen cooperation between the GCC and Canada through the Joint Action Plan for 2025-2029.

The plan outlines priorities and mechanisms to strengthen cooperation in political and security affairs, trade and investment, energy, education, health, and other vital fields.


Saudi Arabia, Yemen Sign $150 Mn Petroleum Supply Deal to Support Energy Sector, Power Plants

Tuesday's agreement was signed by Minister of Electricity and Energy Eng. Adnan Al-Kaf and Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al Jaber. (SPA)
Tuesday's agreement was signed by Minister of Electricity and Energy Eng. Adnan Al-Kaf and Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al Jaber. (SPA)
TT

Saudi Arabia, Yemen Sign $150 Mn Petroleum Supply Deal to Support Energy Sector, Power Plants

Tuesday's agreement was signed by Minister of Electricity and Energy Eng. Adnan Al-Kaf and Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al Jaber. (SPA)
Tuesday's agreement was signed by Minister of Electricity and Energy Eng. Adnan Al-Kaf and Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al Jaber. (SPA)

Saudi Arabia and Yemen signed on Tuesday an agreement worth $150 million to supply petroleum derivatives for power plants across various Yemeni governorates.

The agreement was signed under the patronage of Yemeni Prime Minister Dr. Shaya Mohsin Zindani and is part of Saudi Arabia’s support through the Saudi Development and Reconstruction Program for Yemen (SDRPY) to the Yemeni Ministry of Electricity and Energy, reported the Saudi Press Agency.

It was signed by Minister of Electricity and Energy Eng. Adnan Al-Kaf and Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al Jaber.

The petroleum derivatives support, consisting of diesel and mazut, will fuel more than 70 electricity generation plants across various Yemeni governorates, helping boost the stability and continuity of electricity services and support vital sectors linked to electrical energy.

The support reflects Saudi Arabia’s longstanding commitment to supporting the Yemeni people and alleviating their humanitarian suffering, particularly amid rising temperatures.

It is expected to contribute to stimulating commercial activity, creating job opportunities, and promoting economic growth in Yemen.

An additional agreement was also signed between the Yemeni oil company PetroMasila, the Yemeni Ministry of Electricity and Energy, and SDRPY to support the sustainability of PetroMasila’s operations as a state-owned company, strengthening its capabilities, improving operational efficiency, and ensuring continuity of services in support of the Yemeni government.

The initiative will be implemented under a comprehensive governance framework to ensure that assistance reaches the final beneficiaries, through a supreme committee linked to the prime minister and comprising several Yemeni entities responsible for overseeing and monitoring the distribution of petroleum derivatives to power plants based on the identified needs of electricity generation facilities across Yemen.

SDRPY provided petroleum derivatives grants in 2018 valued at $180 million, one in 2021 worth $422 million, another in 2022 amounting to $200 million, and one in 2026 valued at $81.2 million.

The current $150 million grant comes as searing summer temperatures approach and amid an urgent need to improve electricity service quality to better daily life and living standards for the Yemeni people.


OIC Condemns Israel’s Withholding of Palestinian Tax Revenues

 Israeli military excavators demolish a Palestinian building in the town of Jabaa in the Israeli-occupied West Bank, near Jerusalem June 3, 2026. (Reuters)
Israeli military excavators demolish a Palestinian building in the town of Jabaa in the Israeli-occupied West Bank, near Jerusalem June 3, 2026. (Reuters)
TT

OIC Condemns Israel’s Withholding of Palestinian Tax Revenues

 Israeli military excavators demolish a Palestinian building in the town of Jabaa in the Israeli-occupied West Bank, near Jerusalem June 3, 2026. (Reuters)
Israeli military excavators demolish a Palestinian building in the town of Jabaa in the Israeli-occupied West Bank, near Jerusalem June 3, 2026. (Reuters)

The General Secretariat of the Organization of Islamic Cooperation (OIC) strongly condemned on Tuesday the Israeli Knesset’s approval of a “racist” bill to expand mechanisms for confiscating Palestinian tax revenues, in “flagrant violation of international law and existing bilateral agreements”.

It warned of the “gravity of this illegal measure, which constitutes an assault on the rights of the Palestinian people and their financial resources.”

The move will “exacerbate the deteriorating humanitarian and economic conditions in the Palestinian Territories,” it added.

The General Secretariat renewed its call on the international community “to shoulder its responsibilities by pressuring the Israeli authorities to stop this official piracy and to immediately and unconditionally release all Palestinian tax revenues being illegally withheld.”