US-Saudi Business Council Organizes Promoting Opportunities in Saudi Arabia Conference

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
TT

US-Saudi Business Council Organizes Promoting Opportunities in Saudi Arabia Conference

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

The US-Saudi Business Council will organize on Monday a conference to promote economic opportunities in the Kingdom in New Orleans in partnership with KN Legal.

Speakers from Saudi Aramco, the US-Saudi Arabia Business Council, KN Legal as well as representatives of the US Export Assistance Center in New Orleans and the Lafayette Economic Development Commission will present important data and assistance resources for companies interested in entering or expanding their businesses in the Saudi market.

The conference will also see the participation of a number of experts and speakers to get a general overview of the available opportunities for American companies in Saudi Arabia in the oil and gas projects and the new opportunities generated from the mega economic diversification strategy of the Saudi Vision 2030.

The conference will highlight the efforts of the Saudi leadership in encouraging international participation in this fast-moving economy, such as economic, trade and regulatory reforms to improve the transparency and predictability of the Saudi business environment.



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.