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Wednesday, May 14, 2025
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Trump secures $600 billion Saudi investment deal

publish time

14/05/2025

publish time

14/05/2025

HAS107
President Donald Trump arrives with Saudi Crown Prince Mohammed bin Salman for the group photo with Gulf Cooperation Council leaders during the GCC Summit in Riyadh, Saudi Arabia, Wednesday, May 14, 2025. (AP)

RIYADH, May 14: President Donald Trump commenced his Gulf tour with a landmark announcement: the United States will lift all sanctions on Syria, a significant policy shift influenced by Saudi Arabia's Crown Prince Mohammed bin Salman. The move aims to support Syria's reconstruction efforts following over a decade of civil war. In a related development, Saudi Arabia pledged a $600 billion investment in the U.S. over the next four years, marking a historic commitment to bolster economic ties between the two nations.

During an investment forum in Riyadh, Trump stated, "Oh, what I do for the crown prince," acknowledging the request from Prince Mohammed to end the sanctions. He emphasized that while the sanctions had served their purpose, it was now time for Syria to move forward. The decision to lift sanctions, which had been in place since 1979, is expected to facilitate Syria's path to reconstruction and regional reintegration.

In addition to the sanctions relief, Trump and Prince Mohammed signed a comprehensive agreement encompassing energy, defense, mining, and other sectors. The agreement includes a $142 billion arms deal, described by the White House as the largest defense cooperation agreement ever undertaken by the U.S. The deal covers areas such as air and missile defense, air force and space capabilities, maritime security, and communications. While discussions have included the potential sale of Lockheed F-35 jets, details remain unconfirmed.

The broader $600 billion investment commitment from Saudi Arabia is part of the kingdom's Vision 2030 initiative, which seeks to diversify its economy beyond oil dependence. The investment is expected to support infrastructure projects, technological advancements, and economic development in both countries. Trump has suggested that the total investment could reach $1 trillion as further agreements are finalized in the coming months.

Trump's visit also included a meeting with Syria's new interim president, Ahmed al-Sharaa, marking the first U.S.-Syria presidential encounter in 25 years. During the meeting, Trump urged Sharaa to expel foreign terrorists, normalize ties with Israel, and take responsibility for detainment camps in northeastern Syria. Sharaa, a former rebel commander who played a role in the overthrow of Bashar al-Assad, pledged to run an inclusive government and uphold the 1974 disengagement agreement with Israel.

The lifting of sanctions and the substantial investment deal signify a significant shift in U.S. foreign policy and reflect a strategic alignment between the United States and Saudi Arabia in addressing regional challenges and fostering economic growth.