SAUDI ARABIA AND GREECE SEAL DATA CABLE DEAL, DISCUSS POWER GRID LINK

Wed 27 July 2022:

Saudi Crown Prince Mohammed bin Salman signed a deal to install an undersea data cable with Greece during his first trip to Europe since the killing of journalist Jamal Khashoggi

The “East to Med data Corridor,” a data cable that will link Europe and Asia, is being developed by MENA HUB.

Salman said it will give Greece and Southwest Europe with “much cheaper renewable energy” when discussing the possibility of connecting their power grids to supply Europe with less costly green energy.

Salman stated that he will meet with French President Emanuel Macron in addition to signing bilateral agreements with Greek Prime Minister Kyriakos Mitsotakis in the areas of energy and military cooperation.

Both Macron and Mitsotakis were the only European leaders who visited Riyadh since the murder of Khashoggi at the Saudi consulate in Istanbul.

Earlier, US President Joe Biden had met Prince Mohammed and greeted him with a fist bump during his visit to the Saudi city of Jeddah for a summit of Arab leaders.

Saudi Arabia denied the report by US intelligence that implicated the prince in the killing of Khashoggi due to which he had to face international condemnation.

Following the spike in oil prices brought on by Russia’s invasion of Ukraine, Saudi Arabia was under pressure from the United States and other European nations to increase oil production.

High oil prices have been a major contributing factor to the US’s inflation shooting up to 40-year highs, putting pressure on the Biden administration ahead of the mid-term elections.

The world’s largest crude exporter has resisted pressure to open the supply taps, citing its commitment to production schedules established by the OPEC+ exporting bloc it co-leads with Russia.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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