Saudi Arabia Hosts Regional Trade Policy Course for Middle East Participants

File photo of Saudi flag/Asharq Al-Awsat
File photo of Saudi flag/Asharq Al-Awsat
TT

Saudi Arabia Hosts Regional Trade Policy Course for Middle East Participants

File photo of Saudi flag/Asharq Al-Awsat
File photo of Saudi flag/Asharq Al-Awsat

The Kingdom of Saudi Arabia, represented by the General Authority of Foreign Trade, is hosting the Regional Trade Policy Course for Middle Eastern countries.
Organized in collaboration with the World Trade Organization and King Saud University, the course will run from October 13 to December 5.
The eight-week course is designed for government officials from Middle Eastern countries to exchange information, expertise, and enhance communication. It focuses on deepening participants' understanding of the economic and legal aspects of World Trade Organization rules, controls, and procedures, SPA reported.
Hosting this course aligns with the Kingdom's goals of supporting the national competencies and capabilities of trade policy makers in the region.
By enabling participants to keep pace with international standards and foreign trade rules, the Kingdom aims to contribute to sustainable development, improve the business environment, and enhance economic stability in the Middle East.
The World Trade Organization's selection of Saudi Arabia as host country confirms its pivotal role in promoting regional and international trade.



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.