Tuesday, August 20, 2013

Saudi-backed military coup in Egypt

Saudi-backed military coup in Egypt and support Hosni regime who responsible for various human rights abuses during its reign including murder and torture of political opponents, as Saudi Arabia’s King Abdullah has describing the brutal crackdown on supporters of Morsi as the military-backed government's "legitimate right."

Before the Egyptian military coup, the Saudis had given secret assurance to Defense Minister and Chief of the Army, General Abdul Fattah al-Sisi, that the Saudis along with other conservative Gulf oil states including Kuwait and UAE would guarantee financial support should the Obama Administration cut the 1 billion annual aid to Egypts military in retaliation for ousting their man, Morsi.

On July 17, the newly-sworn-in Egyptian transitional government confirmed that it has received 6 billion in grants, loans and fuel from Saudi Arabia and the UAE.

Saudi Arabia approved 4 billion in aid to Egypt and the UAE has offered 2 billion in desperately needed support for the economy. The Saudi funds comprise a 1.5 billion central bank deposit, 1.5 billion in energy products, and 750 million in cash, Saudi Finance Minister Ibrahim Al-Assaf said. The UAE will make a 750 million grant to Egypt and a 1.5 billion loan in the form of an interest-free deposit with Egypt’s central bank.


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