Saudi Arabia, US sign MoU for corridor linking Asia, Gulf, Europe: Everything to know

[The SC]

Putin comments on: India’s corridor to the Middle East and Europe!

The Head of State said this during the plenary session of the Eastern Economic Forum (EEF), in response to a question from the moderator. The main participants in the new project are India, Saudi Arabia, the United Arab Emirates, Germany, France, Italy, the European Union and the United States of America.

Putin noted that this project, an agreement on which was signed at the recent G20 summit, "has been discussed for a long time."

"The movement of goods along this corridor is actually an addition to our north-south project; we do not see anything here that could interfere with us one way or another," Vladimir Putin said.

According to the Russian President, Russia will be able to use the new route, if implemented, to reach it via the Black Sea and the Mediterranean.

Meanwhile, Vladimir Putin noted that "this is just a memorandum of intent." The Russian President pointed out the insufficient economic evaluation of the new project: “We need to look at the economics of this project. Because, first, the goods have to reach the sea by rail, then they are transferred from the railway to the sea vessels, then they reach the shore either in the UAE or Saudi Arabia, and again they have to be transferred from the ships to the railways. This double overload has implications for the economics of the entire project. This must be taken into account, and the economics of the entire project must be taken into account. And in terms of time, if you look from St. Petersburg to Mumbai, it will be almost the same as we plan for the north-south route. I know nothing about economics, and I repeat, we have to do the math. "It seems to me that our path will be more effective."

Vladimir Putin believes that the traditional logistical route for transporting goods through the Suez Canal will remain attractive to cargo owners. “Interest in using the Suez Canal is not going away. And I think whoever thinks that this will cause any harm to the Suez Canal... I doubt it. In my opinion, this will not happen."

In conclusion, the Russian President stressed: “The volume of transport is growing and increasing every year. In my opinion, the more of these methods, the better.

 

[The SC]

The Saudi government stressed on Tuesday that the Kingdom's contribution to the establishment of an economic corridor connecting India, the Middle East and Europe stems from its strategic geographical location and global leadership as a reliable source of energy.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in NEOM.

The Cabinet discussed the memorandum of understanding signed by Saudi Arabia with the United States on cooperation in developing a protocol for the establishment of intercontinental green transit corridors.

The corridors would pass through the Kingdom, connecting Asia with Europe with the aim of facilitating the transport of renewable electricity and clean hydrogen through transmission cables and pipelines, as well as rail links.

...


https://english.aawsat.com/gulf/454...-underscores-kingdom’s-pioneering-energy-role

 

[Puffin]

MBS at Rastrapati Bhaven

 

[Battlion25]

They should have consulted with Turkey and Egypt before signing on to it who will be de-satisfied

 

[Puffin]

They should have consulted with Turkey and Egypt before signing on to it who will be de-satisfied

Who gives a flying F**k about what these 2 bankrupt nations think about a route that DOES NOT go though their territories.
Both of these nations are begging for money from MBS, the Americans, and the IMF.
They are a couple of empty pocket beggars looking desperately to appear relevant on a issue that has NOTHING to do with them

 

[Beny Karachun]

You really Euro jew or a pajeet hindjew pretending to be an Eastern European Khazar?

Abay chutiyay fake yahoodi, Isreal has a port on red Sea on the gulf of Aqaba, Port Eilat.

Port of Eilat is basically the same route, goes through the Straits of Tiran.

Getting it through there would have 0 advantages over the Suez, in fact it would be stupid, if anyone wants to get to Europe, why would they stop at Eilat, drive for hours to get to a harbor, load it into a ship and ship it again to Europe? Just get it through the Suez at this point.

 

[PakFactor]

Who gives a flying F**k about what these 2 bankrupt nations think about a route that DOES NOT go though their territories.
Both of these nations are begging for money from MBS, the Americans, and the IMF.
They are a couple of empty pocket beggars looking desperately to appear relevant on a issue that has NOTHING to do with them

There is only so much money one can keep throwing at a constant problem of ill-run countries like Egypt.

Port of Eilat is basically the same route, goes through the Straits of Tiran.

Getting it through there would have 0 advantages over the Suez, in fact it would be stupid, if anyone wants to get to Europe, why would they stop at Eilat, drive for hours to get to a harbor, load it into a ship and ship it again to Europe? Just get it through the Suez at this point.

Not really. The way I look at it, the Suez Canal is just a transport line, but Israeli ports can act like Amazon hubs; products come to that hub and are distributed where they need to go. I was reading a report that ports will need to become part of the distribution network and expand how they facilitate trade worldwide.

 

[Beny Karachun]

Not really. The way I look at it, the Suez Canal is just a transport line, but Israeli ports can act like Amazon hubs; products come to that hub and are distributed where they need to go. I was reading a report that ports will need to become part of the distribution network and expand how they facilitate trade worldwide.

Why would the Europeans need distribution hubs far away in Israel when they have distribution hubs in Europe already?

Makes no sense.

What does make sense is a train system straight to Haifa, and a ship to Europe from there.

 

[hyperman]

like what ?

The Jordan to Israel connection goes through the West Bank. Jordan also is quite upset with whats happening in current affairs. Not to mention the potential attacks on the route in the west bank. Its just too much of a hassle, not even sure its more economical than the current Suez route, how much cheaper or how much less time would it be compared to a ship sailing from Mumbai to the EU through the Suez.. Not to mention who will supply the money to build the Jordan Israel link. A whole lot of propaganda is what it is by people trying to push this "Abraham accords" BS.

There is already a proposal for a route through Iraq, that Iraq plans on putting $17 Billion in to build out.

Doubt it would go through the West Bank, they wouldn’t want to deal with the political issues, probably come up from the south and up through “mainland Israel” to Haifa.

Even then, there will be a lot of tension in Jordan by people over any rail link to Israel.

 

[Oublious]

lol

another bs project of mbs, you will use rail road to transport coming from India and use the ship againg for les diesel use?

Usa want to out play Chinese silk road project, but looking to the project it is much better and logical. If mbs want to pay everything then it is a oke for the americans and indians.

and the bs project.

 

[Puffin]

Even then, there will be a lot of tension in Jordan by people over any rail link to Israel.

There is no tension . Jordan is fully on board as the MOU would NEVER include a country that had not already affirmed its willingness.

Its just too much of a hassle, not even sure its more economical than the current Suez route, how much cheaper or how much less time would it be compared to a ship sailing from Mumbai to the EU through the Suez.. Not to mention who will supply the money to build the Jordan Israel link.

You are NOT EVEN SURE. What proper transit cost analysis have you done ????
This is not something pulled out of the thin air. There are several research papers and many minds have spend time making a proper study of this route which was then presented to MBS Biden etc. Money for this route is the least of the problems. SA USA and UAE have very very deep pockets. Israel and India are not exactly poor either

 

[PakFactor]

The Jordan to Israel connection goes through the West Bank. Jordan also is quite upset with whats happening in current affairs. Not to mention the potential attacks on the route in the west bank. Its just too much of a hassle, not even sure its more economical than the current Suez route, how much cheaper or how much less time would it be compared to a ship sailing from Mumbai to the EU through the Suez.. Not to mention who will supply the money to build the Jordan Israel link. A whole lot of propaganda is what it is by people trying to push this "Abraham accords" BS.

There is already a proposal for a route through Iraq, that Iraq plans on putting $17 Billion in to build out.



Even then, there will be a lot of tension in Jordan by people over any rail link to Israel.

Nobody cares for Jordan's opinion, not then and not now. Israelis will protect the lines, etc.

 

[TriptiD]

The Jordan to Israel connection goes through the West Bank. Jordan also is quite upset with whats happening in current affairs. Not to mention the potential attacks on the route in the west bank. Its just too much of a hassle, not even sure its more economical than the current Suez route, how much cheaper or how much less time would it be compared to a ship sailing from Mumbai to the EU through the Suez.. Not to mention who will supply the money to build the Jordan Israel link. A whole lot of propaganda is what it is by people trying to push this "Abraham accords" BS.

There is already a proposal for a route through Iraq, that Iraq plans on putting $17 Billion in to build out.



Even then, there will be a lot of tension in Jordan by people over any rail link to Israel.

The experts have run the numbers and done the analysis. You are just speculating without either all of the data or the expertise.

Jordan already has diplomatic and economic relations with Israel and will benefit from this project. Why will they oppose something that raises their geopolitical importance and places them on a major trade route ? There is going to be US, EU, Saudi, Emirati Israeli and Indian money involved. Even if Jordan refuses to put in a penny, they can find the funds between them and even pay Jordan for building rights, if required.

As for " tension ", someone or the other is always aggrieved. There is an open insurgency in Balochistan against Cpec, but that hasn't stopped it so far, has it ?

 

[A Voice of Reason]

Port of Eilat is basically the same route, goes through the Straits of Tiran.

Getting it through there would have 0 advantages over the Suez, in fact it would be stupid, if anyone wants to get to Europe, why would they stop at Eilat, drive for hours to get to a harbor, load it into a ship and ship it again to Europe? Just get it through the Suez at this point.

Because with the latest transit fee increases a large container ship (for instance) has to pay $625,000 to $675,000 for honour of transiting the Suez Canal. Not including the delays and operational costs. Some types of freight ships currently even prefer going all the way around Africa over using the Suez.

Suez Canal toll hike: ‘Global trade just got more expensive’

The increase in Suez Canal tolls range between 5%-10% and become effective Tuesday.

www.freightwaves.com

Projections for the IMEC suggest that it will 40% faster and 30% cheaper, for Indian goods to reach Europe than using the Suez.

The India-Middle East-Europe Corridor: A Game Changer

The historic agreement on the "India-Middle East-Europe Corridor (IMEC)" during the G-20 Summit in Delhi marks a watershed moment for India's economic and

mithilassiblogs.co.in

I do note however that President Putin at the G20 summit is quoted as saying that the economics still needs to be studied.

If the 30% cheaper estimate is correct then it is because for the Suez route there is a whole lot fees including for transit and piloting and towing and numerous other ever increasing fees that has to be paid.

 

[A Voice of Reason]

There is only so much money one can keep throwing at a constant problem of ill-run countries like Egypt.

Alas one of the considerations for those that border said ill-run countries is what will happen if said countries collapse.

Which is why the first ever summit last year between the leaders of Egypt, the UAE and Israel focused on the topic of wheat for Egypt. It relies heavily on cheap grains from Ukraine and Russia which of course are not as forthcoming like they used to be amd certainly not as cheap as before. The UAE later promised to sell $500 million worth to Egypt. Basically if the Egyptian government collapses or massive bread riots erupt, those just waiting to fill in the vacuum are considered extremely dangerous to the whole region. This is besides any humanitarian concerns of course.