Latest news with #GulfFunding
Khaleej Times
8 hours ago
- Business
- Khaleej Times
Top UAE diplomat criticises Israeli minister's call for Gulf nations to fund war on Iran
Editor's Note: Follow our live blog for real-time updates on the latest developments in the Israel-Iran conflict.] An Israeli minister's controversial remarks has drawn sharp criticism from a top UAE official amid the ongoing Israel-Iran war — a conflict that escalated sharply after the US struck 3 nuclear sites in Iran on Sunday. The diplomatic adviser to UAE President Sheikh Mohamed, Dr Anwar Gargash, denounced the audacity of Israeli Finance Minister Bezalel Smotrich for asking Gulf countries to contribute and fund Israel's war on Iran. "Israeli Finance Minister Smotrich's brazenness reached the point of calling for Gulf (and German, French, and British) funding for Israel's war on Iran. The Gulf states condemned the attack and called for a diplomatic solution to ensure the stability of the region and its peoples," Gargash wrote on X. On June 20, Hebrew Channel 14 quoted Smotrich as saying: "The Gulf countries, which earn trillions of dollars, as well as Germany, Britain, and France, should take part in the costs of this war—at least economically." Gargash called Smotrich's funding call "moral bankruptcy". He wrote, "Such a proposal is nothing but moral bankruptcy on the part of an extremist who does not understand the consequences of escalation." On Sunday, Gulf countries expressed their concern and warned of major consequences after the US dropped bombs on Iranian nuclear sites amid the ongoing war between Israel and Iran. The UAE stressed the need for immediate de-escalation to avoid serious repercussions and spare the region from being pulled into deeper levels of instability. The call to share the cost of Israel's war comes after The Wall Street Journal reported that Israel's conflict with Iran is costing the country hundreds of millions of dollars a day. The mounting costs add up to pressure on Israel to wrap up the war quickly. The report stated: "The biggest single cost are the interceptors needed to blow up incoming Iranian missiles, which alone can amount to between tens of millions to $200 million a day, experts say. Ammunition and aircraft also add to the price tag of the war, as does the unprecedented damage to buildings. Some estimates so far say that rebuilding or repairing damage could cost Israel at least $400 million." Amid regional turmoil, Gargash reaffirmed the UAE's commitment to stability and diplomacy. "The UAE will remain a voice of reason and a pillar of peace, stability, and prosperity," he added. The top diplomat also expressed his confidence in the leadership of UAE President Sheikh Mohamed bin Zayed Al Nahyan, who held several phone conversations with Gulf and world leaders aimed at de-escalation and restoring stability and security across the region. However, he had also warned of consequences of this ongoing war: "The Israeli attack on Iran and the ongoing war mark a pivotal moment with far-reaching consequences for both nations and the region. Reason and foresight demand an immediate end to hostilities and return to political dialogue, as history and past wars in the region clearly teach us."
The National
9 hours ago
- Business
- The National
UAE's Gargash condemns Israeli minister's call for Gulf to fund war on Iran
Dr Anwar Gargash, diplomatic adviser to UAE President Sheikh Mohamed, on Monday criticised ultra-right Israeli Finance Minister Bezalel Smotrich and his call for Gulf funding for Israel's war on Iran. "The audacity of Israeli Finance Minister Smotrich has reached the point of calling for Gulf (and German, French, and British) funding for Israel's war on Iran," he said in a post on X. The UAE, as well as other Gulf states, have condemned Israeli strikes on Iran that began last week. "Such a proposal is nothing but moral bankruptcy from an extremist who fails to grasp the consequences of escalation," Mr Gargash said. The UAE has expressed concern over the tensions in the region and Israeli as well as US attacks on Iranian nuclear sites. President Sheikh Mohamed has also led consultations aimed at de-escalation in the region and has held talks with regional leaders. The UAE Ministry of Foreign Affairs on Sunday stressed the importance of prioritising diplomacy and dialogue to resolve disputes in ways that 'promote stability, prosperity and justice'. According to estimates by The Wall Street Journal, war with Iran is costing Israel hundreds of millions of dollars a day, with the most expensive burden being the interception of missiles. Experts suggest the air war is far more expensive than Gaza or the war with Hezbollah. Despite the cost, Israeli Prime Minister Benjamin Netanyahu has shown no indication of stopping before Israel has achieved all its goals, which he said it was "very close" to doing.
The National
10 hours ago
- Business
- The National
UAE's Gargash slams Israeli minister's call for Gulf to fund war on Iran
Dr Anwar Gargash, diplomatic adviser to UAE President Sheikh Mohamed, on Monday slammed a call from the ultra-right Israeli Finance Minister for Gulf funding for Israel's war on Iran. "The audacity of Israeli Finance Minister Smotrich has reached the point of calling for Gulf (and German, French, and British) funding for Israel's war on Iran," he said in a post on X. The UAE, as well as other Gulf states, have condemned Israeli strikes on Iran that began last week. "Such a proposal is nothing but moral bankruptcy from an extremist who fails to grasp the consequences of escalation," Mr Gargash said.
