Thursday, 15 May 2025

US close to nuclear deal with Iran, says Trump

US President Donald Trump said on Thursday that the United States was getting very close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms, reports Reuters.

"We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf.

"We're getting close to maybe doing a deal without having to do this... there (are) two steps to doing this, there is a very, very nice step and there is the violent step, but I don't want to do it the second way," he said.

An Iranian source familiar with the negotiations said there were still gaps to bridge in the talks with the United States.

Oil prices fell by about US$2 on Thursday on expectations for a US-Iran nuclear deal that could result in sanctions easing.

Talks between Iranian and US negotiators to resolve disputes over Tehran's nuclear programme ended in Oman on Sunday with further negotiations planned, officials said, as Tehran publicly insisted on continuing its uranium enrichment.

The Trump administration gave Iran a proposal for a nuclear deal during the fourth round of negotiations on Sunday.

Though Tehran and Washington have both said they prefer diplomacy to resolve the decades-long nuclear dispute, they remain divided on several red lines that negotiators will have to circumvent to reach a new deal and avert future military action.

Iran's president reacted to Trump's comments on Tuesday calling Tehran the “most destructive force” in the Middle East.

“Trump thinks he can sanction and threaten us and then talk of human rights. All the crimes and regional instability is caused by them (the United States),” Masoud Pezeshkian said.

“He wants to create instability inside Iran.”

However, in an interview with NBC News published on Wednesday, an Iranian official said Iran was willing to agree to a deal with the US in exchange for the lifting of economic sanctions.

Ali Shamkhani, an adviser to Iran's Supreme Leader Ayatollah Ali Khamenei, said Iran would commit to never making nuclear weapons and getting rid of its stockpiles of highly enriched uranium, agree to enrich uranium only to the lower levels needed for civilian use and allow international inspectors to supervise the process, NBC reported.

US officials have publicly stated that Iran should halt uranium enrichment, a stance Iranian officials have called a "red line" asserting they will not give up what they view as their right to enrich uranium on Iranian soil.

However, they have indicated a willingness to reduce the level of enrichment.

Iranian officials have also expressed readiness to reduce the amount of highly enriched uranium in storage—uranium enriched beyond the levels typically needed for civilian purposes, such as nuclear power generation.

But they have said it would not accept lower stockpiles than the amount agreed in a deal with world powers in 2015 - the deal Trump quit.

The Iranian source said that while Iran is prepared to offer what it considers concessions, "the issue is that America is not willing to lift major sanctions in exchange."

Western sanctions have severely impacted the Iranian economy.

Regarding the reduction of enriched uranium in storage, the source noted: “Tehran also wants it removed in several stages, which America doesn't agree with either.”

There is also disagreement over the destination to which the highly enriched uranium would be sent, the source added.

 

 

Wednesday, 14 May 2025

Suez Canal to lure back container ships

The Suez Canal Authority (SCA) said in a circular, in response to requests from containership owners and operators, and in light of recent positive developments in the security situation in the Red Sea and Bab al-Mandab Strait it would be offering rebate on tolls for large boxships.

A rebate of 15% on tolls will apply to container ships of 130,000 net tonnage or above transiting the canal either laden or in ballast conditions and will be applied directly on transit without need to submit additional documentation.

“This rebate is calculated solely on the normal transit dues stipulated by the transit dues table, in addition to surcharges levied on container tiers,” SCA said.

The rebate applies for containers ships transiting the canal from May 15, 2025 for a period of 90 days.

The Suez Canal has been hard hit by owners and operators diverting vessels via the Cape of Good Hope over the last 18 months to avoid attacks in the Red Sea by the Houthi.

Virtually all large container ships serving the Asia – Europe/Med, and US East Coast trades have diverted via the Cape.

Last week a ceasefire deal was announced between the United States and the Houthi with the group saying it would cease to attack commercial shipping.

Although there have been no confirmed attacks against commercial vessels since late 2024, owners that diverted via the Cape of Good Hope have been reluctant to return to Red Sea and Suez Canal transits due to the uncertainty that surrounds the security situation.

A return is also dependent on the insurance situation and as yet the Joint War Committee in London has not altered its status.

Courtesy: Seatrade Maritime Mews

Iran rejects Trump's negative portrayal of its regional role

Iranian foreign minister on Wednesday called his country's characterization by US President Donald Trump as the "most destructive force" in the Middle East "deceptive", days after a fourth round of Iran-US nuclear talks.

Abbas Araqchi also confirmed a Reuters report that the Iranian deputy foreign minister will meet in Istanbul with British, French and German diplomats on Friday to consult on the parameters of a potential new nuclear deal being negotiated between Tehran and Washington.

Iranian foreign minister said the fourth round of Iran-US talks held on May 11 was "difficult" as they focused on the controversial issue of enrichment, adding he hoped the US side would come with "more realistic positions" after gaining a better understanding of Iran's fundamental positions.

A fifth round of talks is to be announced by Oman's foreign ministry which has acted as mediator since the start of the talks in April.

On the first leg of his Gulf visit in Riyadh, Trump drew a stark contrast between what he called the "constructive vision" of Saudi Arabia and the "collapse and suffering" he said had been caused by Iranian leaders.

Washington has for long accused Tehran of "malign and destabilizing activity" in the region, including the support of non-state armed groups such as Yemen's Houthis which fall within the Iran-backed "Axis of Resistance" to Israel and US influence in the region.

"Unfortunately, this is a very deceptive view. The Iranian nation pursues the same aspirations toward progress and prosperity as other regional countries. It is the US with its sanctions and threats which has blocked Iran's path to progress," Araqchi said.

"Trump turns a blind eye to Israel's crimes and wants to present Iran as a threat to the region," he said.

Iran's top diplomat explained his recent trip to Saudi Arabia and Qatar was related to Iran-US nuclear negotiations, saying Tehran keeps its neighbours informed and seeks a regional understanding regarding a potential agreement with the US.

"We are very interested in having a regional understanding regarding these talks and potential agreement that will lead to increased security and improved regional understanding without the interference of any foreign country," he said.

 

 

Trump concludes visit to Saudi Arabia

US President Donald Trump departed Saudi Arabia on Wednesday after a landmark official visit that saw the signing of a strategic economic partnership with the Kingdom, participation in the Saudi–US Investment Forum, Gulf-US Summit, and a historic meeting involving Syria’s new leadership.

Crown Prince and Prime Minister Mohammed bin Salman was present at King Khalid International Airport in Riyadh to see off President Trump.

Trump’s visit marked his first official overseas trip during his second term. He was received at the airport on Tuesday morning by the Crown Prince, and the two leaders held multiple high-level engagements throughout the visit.

At Al-Yamamah Palace, Trump and the Crown Prince co-chaired the Saudi–US Summit, where they signed the Strategic Economic Partnership between the two governments. The summit addressed bilateral relations and regional security, and resulted in the exchange of numerous agreements and memoranda across key sectors including defense, energy, justice, health, space, and scientific research.

The visit also included the US–Gulf Summit, held in Riyadh, where Gulf leaders and Trump reaffirmed the strength of US–GCC strategic ties. Crown Prince Mohammed bin Salman noted that trade between GCC countries and the US reached nearly US$120 billion in 2024, with the US remaining a vital commercial partner.

In a diplomatic development, Trump announced the full removal of US sanctions on Syria and began the process of normalizing relations with the new Syrian government. The announcement followed a trilateral meeting hosted by the Crown Prince and attended by Syrian President Ahmad Al-Sharaa and Turkish President Recep Tayyip Erdoğan, who joined via phone call. The talks emphasized Syrian sovereignty, stability, and reconstruction.

Al-Sharaa, who assumed office after the fall of Bashar al-Assad in December 2024, thanked Trump for lifting sanctions, calling it a pivotal step toward rebuilding Syria. He also expressed gratitude to Saudi Arabia and Turkey for their diplomatic efforts in support of Syria’s reintegration.

During the visit, Trump toured Diriyah with the Crown Prince and learned about the area’s historical significance and future as a global cultural destination. The president was briefed on Diriyah’s development plan and praised Saudi Arabia’s transformation.

Trump’s departure follows a series of high-impact meetings and announcements, solidifying US–Saudi relations, expanding investment and security cooperation, and opening new diplomatic channels in the Middle East.

Courtesy: Saudi Gazette

Saudi Arabia strikes deals with US companies

US President Donald Trump’s visit to Saudi Arabia has triggered a flurry of deals, ranging from AI and data centre infrastructure to investments in private credit. Followings are some of the key deals:

Oracle to invest US$14 billion

The American database and cloud company pledged US$14 billion in investments over the next 10 years in Saudi Arabia, with the aim of bringing AI technology to the kingdom. CEO Safra Catz credited Trump for the deal, adding the expanded partnership with Saudi “will create new opportunities for its economy”.

Nvidia to send 18,000 chips

In a flurry of deals that saw Nvidia’s market value hit US$3 trillion, the US chipmaker announced a partnership with Saudi sovereign wealth fund-owned AI startup Humain, which will include a shipment of 18,000 chips to the kingdom, to help power a new data center project.

Another deal with the Saudi Data & AI Authority (SDAIA) will see Nvidia deploy up to 5,000 Blackwell GPUs for a sovereign AI factory and enable smart city solutions. Nvidia and SDAIA will train government and university scientists and engineers on how to develop and deploy models for physical and agentic AI.

Aramco Digital will also collaborate with Nvidia’s startup ecosystem to develop AI computing infrastructure.

AMD US$10 billion collaboration

AMD and Humain will invest up to US$10 billion over the next five years to deploy 500 megawatts of AI compute capacity. The AI superstructure will power workloads across enterprise, start-up and sovereign markets, the companies said.

Humain will oversee end-to-end delivery, including hyperscale data centre, sustainable power systems, and global fibre interconnects, and AMD will provide its software ecosystem.

Initial deployments are already underway across key global regions, the companies announced. 

Qualcomm to build data centres

Qualcomm Technologies, also partnered with Humain for the development of next-generation AI data centres, infrastructure and cloud-to-edge services across the globe, including Saudi.

Franklin Templeton’s US$150 million commitment

US investment firm Franklin Templeton signed a deal with Saudi’s Hassana Investment Company, valued at US$150 million to explore investments in Saudi private credit. The companies said the partnership aims to mobilize institutional capital into the Saudi private sector and to strengthen access to alternative financing in the kingdom.

Hassana is one of the region’s most active institutional investors, with over 1.2 trillion Saudi riyals ($320 billion) of assets under management.

AviLease takes off with 30 Boeing aircraft

The PIF-backed aircraft lessor AviLease also announced it had signed an agreement with Boeing for an order of 30 Boeing 737-8 aircraft, its first direct OEM order.

Deliveries are scheduled through 2032, with chairman Fahad AlSaif saying the deal was part of the PIF mandate to invest in the kingdom’s aviation sector.

The agreement builds on the Riyadh Air deal Boeing, a new airline launched by PIF, which placed an order of up to 72 Boeing 787-9 Dreamliner airplanes in a multi-billion-dollar deal, earlier this year.

 

Trump urges Syrian President to sign Abraham Accords with Israel

According to media reports, US President Donald Trump urged Syrian President Ahmed Al-Sharaa to sign the Abraham Accords with Israel during their meeting ahead of the GCC summit in Riyadh on Wednesday.

The US leader added that he is also looking to normalize relations with Sharaa. The meeting between the two comes one day after Trump said that the US was lifting sanctions on Syria.

Trump told the Syrian leader he has "a tremendous opportunity to do something historic in his country," according to an official statement by White House Press Secretary Karoline Leavitt.

Trump also urged Sharaa to tell all foreign terrorists to leave Syria, deport Palestinian terrorists, help the US to prevent the resurgence of ISIS, and assume responsibility for ISIS detention centers in the northeastern parts of the country.

Shaara affirmed his commitment to the 1974 disengagement with Israel, the White House statement continued, recognized the opportunities of Iranians leaving Syria, and expressed interest in joint US-Syrian efforts in combating terrorism and eliminating chemical weapons.

Trump also said that his Middle East trip doesn't push Israel aside, saying, "I think it's very good for Israel."

Saudi Crown Prince Mohammed bin Salman was also present in the meeting, and Turkish President Recep Tayyip Erdogan joined by video conference. Erdogan and the Saudi Crown Prince praised Trump for lifting the sanctions on Syria, Leavitt said.

Saudi Foreign Minister Faisal bin Farhan Al Saud said that Saudi Arabia would support Syria's economic recovery and thanked Trump for lifting US sanctions on Syria. He said that there are many investment opportunities in Syria after lifting US sanctions, possibly a "breakthrough" in Saudi support for Syria.

 

Tuesday, 13 May 2025

Trump extends ‘olive branch’ to Iran with stern warning

US President, Donald Trump on Tuesday offered an “olive branch” to Iran as he projected optimism about the future of the Middle East in remarks from Saudi Arabia.

Trump speaking at a US-Saudi investment forum in Riyadh, praised leaders in Saudi Arabia, Qatar and the United Arab Emirates for turning their capitals into hubs of commerce and called it his “fervent hope” that Saudi Arabia would eventually normalize relations with Israel.

The president portraying himself as a peacemaker for global conflicts, took a softer tone toward Iran as his administration seeks to reach a deal with Tehran over its nuclear program.

“As I have shown repeatedly, I am willing to end past conflicts and forge new partnerships for a better and more stable world, even if our differences may be very profound, which obviously they are in the case of Iran,” Trump said.

“I want to make a deal with Iran. If I can make a deal with Iran I’ll be very happy,” Trump added. “We’re going to make your region and the world a safer place. But if Iran’s leadership rejects this olive branch and continues to attack their neighbors, then we will have no choice but to inflict massive, maximum pressure.”

Trump said the olive branch to Iran “will not last forever.”

Officials from Iran and the US have been engaged in talks in recent weeks around Tehran’s nuclear program. Trump during his first term withdrew the US from the Obama-era Iran nuclear deal, which had offered sanctions relief in exchange for limits on its nuclear program.

The president has in recent days signaled he could be open to Iran having a civilian nuclear program but has been adamant that Tehran cannot have a nuclear weapon.

Trump also on Tuesday announced he was rolling back sanctions on Syria at the urging of allies in the Middle East in an effort to boost the new government in Damascus.