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Main » 2019 » February » 18 » Future plan "Vision 2030" under threat
08:28
Future plan "Vision 2030" under threat

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If Saudi Arabia will be in the list of countries that finance terrorism, the investment "Vision 2030" plan would be at risk. 

The European Commission, for the week, including Saudi Arabia in the list of "third countries" at risk "for money exchange and assistance to terrorist organizations." According to analysts, if the majority of the world does not cease to put pressure on the Eastern State and take the appropriate legislation in this area, it will be possible to forget about foreign investment.

 

 

 

 

In the European Parliament the power of the European Council and the cancellation of this decision, but it will be necessary to recruit the necessary number of votes. Once in this list, the kingdom falls into the not very favorable to the position as legislators now have every right to pay more attention to detail on whether Saudi Arabia international convention performs. In case of violations granted privileges can be revoked. 

Further developments depend on the decisions of other countries in Europe. For example, Great Britain, together with the United States and France have reported that they did not agree with the law, because they have long been cooperating closely enough with Arabia and conduct trade in arms and other goods, but to find a middle ground and give a positive solution to the European Union are still can. 

As Loretta Napoleoni notes dealing with issues of terrorism and wrote a piece "Terror, Inc" reported "that include a country in the list, trodden path into the future." Much depends on the United States and if they are against, it will be controversial moments. The situation will affect "all European investors, but also the structure, working under the auspices of the European Union, and all those who cooperate with the United States and uses the dollars staying on the sidelines." 

Napoleoni argues that no new information about all kinds of fraud and laundering of large sums of money in the kingdom, especially with regard to terrorism. Hit such a powerful state in the list is justified, since it previously existed appropriate conditions. Not once was seen "that most of the funding is sent to support jihadist organizations, and this was done for decades," she says. 

The expert said that the Islamic finance from anybody do not depend on their personal monetary system works and interact with the special rules for its operation, that is, the international monetary authorities can not intervene in the money laundering and terrorist financing. 

The state "is not engaged in tracking transactions suspicious nature, and, moreover, do not stop them," he says the situation Ayham Kamel, who served as director of the Eurasia Group and in studying Eastern and North African countries. Interestingly, the Riyadh approved the act prohibiting the providence of money laundering and the development of terrorism. 

According to information received from the Kamel in the Panel's report, the main objective of which is in opposition to money laundering in the past year, it is clear that the authorities Arabia adhere to the so-called AML / CFT, in other words, fighting against terrorism and laundering of currency.

"EU government has full authority and right to punish those responsible for the murder of journalist Jamal Khashoggi. Most likely, Riyadh is a violation of EU stereotypes and is not afraid of what someone might go against the kingdom, "- said Kamel. 

The situation is developing in such a way that the Republicans together with Democrats voted for the adoption of the list of specific legislation, the main objective of which is to Riyadh bore responsibility for a well-deserved death Khashoggi. In addition, the question is about the US military support for the abolition during the attacks on the territory of Yemen, the opposition of OPEC, as a special influence in this structure belongs to Saudi Arabia. 

Royal must ensure their image, as in the case of the fall there will be problems with the implementation of the "Vision 2030" plan. The project was created with the support of Crown Prince Salman bin and involves the implementation of the process of economic diversification, reducing its relationship to oil price shocks. The main problem, which is the center of attention - the presence of the country's capital to other countries. 

Cincy Bianco, co-operating with the Guf State Analytics draws public attention to the fact that the Commission "does everything to the government, which is taking a lot of steps to attract foreign investment beginning productive work more quickly to raise funds."

it also summed up and the fact that European banks are especially careful in dealing with Saudi Arabia, which is not true of Asia and the US. This is due to the presence of multiple political risks that are associated with the eastern states. The decision taken a negative impact on the problem, even if the issue is resolved not completely. 

 

WELTRADE analyst

 

 

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