The Arab world has long-rooted ties in Indonesia, as historic indications reveal that the first traders initially reaching the archipelago in the fifth century. Since then the Arab world has provided maritime trade and financial services. When Islam finally made its way to Indonesia, the two cultures already exhibited a strong financial and cultural bond thanks to Arab trade and migration. The routes that were initially used for trade have helped the ties between Indonesia and the Arab world flourish as Islam’s influence expanded throughout the world. Indonesia is home to the world’s largest Muslim population; over 225 million people, or nearly 13 percent of the world’s Muslims, live in the country. In the past decade Indonesia’s economy has grown, with few exceptions, between 5 percent and 6 percent annually for nearly 14 years. This impressive consistency is the result of a strong macroeconomic policy, modernization efforts, and a focus on stability … [Read more...] about Indonesia should seek more economic cooperation with Gulf States
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US-Iran tensions escalate in wake of Gulf tanker attacks
A stand-off between the United States and Iran is threatening to boil over after an attack on two oil tankers in the Gulf of Oman, triggering a surge in the price of oil. US President Donald Trump, speaking on US television, pinned Thursday's attacks on Iran, while Teheran has vehemently denied the attacks. It accused Washington of "economic terrorism". Hours after the attacks on Thursday, the US military released a video which it said showed Iran's Revolutionary Guard removing an unexploded mine from the side of the Japanese-owned oil tanker Kokuka Courageous. The footage shows Iran "did do" the tanker explosions, Mr Trump said in an interview on Fox television network yesterday. When asked how the US will stop Iran, he replied: "We will see." He also said it was unlikely that Iran could close the Strait of Hormuz, through which one-fifth of the world's oil supply passes every year - but if it did, the strait would not remain closed for long. Oil prices jumped as much as 4 per cent … [Read more...] about US-Iran tensions escalate in wake of Gulf tanker attacks
Iran rejects US allegations of Gulf of Oman tanker attacks
The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices LCOc1 and raised concerns about a new US-Iranian confrontation, but Tehran bluntly denied the allegation. It was not immediately clear what befell the Norwegian-owned Front Altair or the Japanese-owned Kokuka Courageous, which both experienced explosions, forcing crews to abandon ship and leave the vessels adrift in waters between Gulf Arab states and Iran. One source said the blast on the Front Altair, which caught fire and sent a huge plume of smoke into the air, may have been caused by a magnetic mine. The firm that chartered the Kokuka Courageous tanker said it was hit by a suspected torpedo, but a person with knowledge of the matter said torpedoes were not used. On Thursday night, US Central Command spokesman Bill Urban released a video of what the U.S. military said was an Iranian Revolutionary Guard Corp Gashti Class patrol boat approaching the Kokuka Courageous … [Read more...] about Iran rejects US allegations of Gulf of Oman tanker attacks
Tanker attacks in Gulf of Oman stoke fears over conflict and oil
DUBAI (REUTERS) - Two oil tankers were attacked on Thursday (June 13) and left adrift in the Gulf of Oman, driving up oil prices and stoking fears of a new confrontation between Iran and the United States, which blamed Teheran for the incident. “It is the assessment of the United States government that the Islamic Republic of Iran is responsible for the attacks that occurred in the Gulf of Oman today,” US Secretary of State Mike Pompeo told reporters in a brief appearance without providing hard evidence to back up the stance. “This assessment is based on intelligence, the weapons used, the level of expertise needed to execute the operation, recent similar Iranian attacks on shipping, and the fact that no proxy group operating in the area has the resources and proficiency to act with such a high degree of sophistication,” he said. Washington accused Teheran of being behind a similar attack on May 12 on four tankers in the same area, a vital shipping route … [Read more...] about Tanker attacks in Gulf of Oman stoke fears over conflict and oil
Saudi Arabia says 2 oil tankers damaged by sabotage attacks
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By Jon Gambrell The Associated Press Mon., May 13, 2019 FUJAIRAH, United Arab Emirates - Saudi Arabia said Monday two of its oil tankers were targeted in “sabotage operations” off the coast of the United Arab Emirates in attacks the previous day that caused “significant damage” to the vessels, one of them as it was en route to pick up Saudi oil to take to the United States. The announcement by the kingdom’s energy minister, Khalid al-Falih, came as the U.S. issued a new warning to sailors and the UAE’s regional allies condemned Sunday’s incident that targeted at least four ships, including two Saudi tankers, off the port city of Fujairah. Although details of the attacks were not disclosed, targeting tankers and commercial shipping vessels so close to the Persian Gulf has the potential to rattle global oil supplies. The Saudi statement came just hours after Iranian and Lebanese media outlets aired false reports of explosions … [Read more...] about Saudi Arabia says 2 oil tankers damaged by sabotage attacks