US seeks $ 300bn from Gulf states to tackle turmoil


Quoting “highly informed” sources, the daily said Washington has asked Saudi Arabia for $ 120bn, the United Arab Emirates for $ 70bn, Qatar for $ 60bn and was seeking $ 40bn from Kuwait.

Al-Seyassah said Washington sought the amount as “financial aid” to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States plans to use the funds to help the ailing automobile industry, banks and other companies suffering from the global financial turmoil.

The four nations, all members of OPEC, produce together 14 million barrels of oil per day, around half of the cartel’s production and about 17 percent of world supplies.




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