Saudi King Salman meets US Secretary of State Mike Pompeo

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Saudi Arabia’s King Salman received US Secretary of State Mike Pompeo in Riyadh. (SPA)
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Saudi Arabia’s King Salman received US Secretary of State Mike Pompeo in Riyadh. (SPA)
Updated 29 April 2018

Saudi King Salman meets US Secretary of State Mike Pompeo

  • US Secretary of State Mike Pompeo is using the Middle East tour to call for concerted international action against Iran
  • Senior US officials traveling with Pompeo blamed Iran for smuggling missiles to Houthi militais in Yemen

RIYADH: Saudi Arabia’s King Salman received on Sunday US Secretary of State Mike Pompeo, who is using the Middle East leg of his first trip abroad as America’s top diplomat to call for concerted international action to punish Iran for its missile programs.
He’s also urging Saudi Arabia and its neighbors to resolve a long-festering dispute with Qatar that US officials say Iran is exploiting to boost its influence in the region, including in Yemen and Syria.
“I think they would all agree that it’s in everyone’s best interests that the Gulf states all figure out how to be together,” Pompeo told reporters as he traveled to Israel. “We’ve got a common challenge in Iran I think they all recognize that. We’re hopeful that they will in their own way figure out their dispute between them.”
The ex-CIA chief arrived in Riyadh a day earlier, shortly after Iranian-backed Houthi rebels in Yemen fired missiles at Saudi Arabia’s southern city of Jazan, killing one person and underscoring what US officials said is a growing threat emanating from Iran.
Senior US officials traveling with Pompeo blamed Iran for smuggling the missiles into Yemen. They said the incident highlighted the importance of the Trump administration’s push to counter Iran in the region. Iran has also provided crucial support to Syrian President Bashar Assad.
“Iran destabilizes this entire region,” Pompeo said in brief remarks to journalists with Saudi Foreign Minister Adel Al-Jubeir, taking no questions. Pompeo also stressed that Gulf unity was “essential.”
Al-Jubeir said the Kingdom “supports the policy of the Trump administration against Iran and to improve the terms of the nuclear agreement with Iran.”
Mediation efforts led by Kuwait and supported by the US, including former Secretary of State Rex Tillerson, who Trump fired last month, have proven unsuccessful.
Pompeo’s meetings in Saudi Arabia, to be followed by discussions in Israel and Jordan, come just weeks ahead of several key dates that could bring further volatility to the region.
Trump has set a May 12 deadline to decide whether to pull out of the Iran nuclear deal, something he appears likely to do despite heavy pressure to stay in from European and other parties.
Two days later, the US plans to open its new embassy in Jerusalem. That will mark a significant shift in decades of American policy toward Israel and the Palestinians, who also claim the holy city as their capital.


Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Updated 21 August 2019

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

  • The website of a cryptocurrency company is promoting what it calls the CryptoRiyal and SmartRiyal
  • The Singapore-based company uses the Saudi emblem of two crossed swords and a palm tree

JEDDAH: Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday.

The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree. Its “ultimate goal” is to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom, the company claims.

“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the ministry said on Tuesday.

The fraudsters were exploiting ignorance of how virtual currencies work, cryptocurrency expert Dr. Assad Rizq told Arab News.

“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.

“They hype and pump their project so the price goes up. Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.

“Cryptocurrencies are a risky investment for two reasons. First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.

“Second, you have to do your homework, learn about the technology. And if you still want to invest, consider your country’s rules and regulations.”