Saudi Arabia, US take a significant step toward closing $15 billion deal

      Published on Friday, 30 November , 2018      69 Views     
Saudi Arabia, US take a significant step toward closing $15 billion deal

  • Government

Saudi Arabia has signed a letter of offer and acceptance with the United States for Lockheed Martin’s THAAD missile system, a significant step forward in the $15 billion deal, a State Department spokesperson confirmed to CNBC.



Saudi officials, alongside their U.S. counterparts, signed the crucial government-to-government agreement earlier this week, paving the way for the massive sale of 44 THAAD launchers, missiles and related equipment.

Manufactured by Lockheed Martin, the Pentagon’s top weapons supplier, THAAD, or terminal high altitude area defense, is regarded as America’s crown jewel in missile defense systems.

The Saudi Embassy did not respond immediately to CNBC’s request for comment.

The development comes as Saudi Arabia is under fire over the killing of journalist Jamal Khashoggi, as well as its role in the war in Yemen.

President Donald Trump, meanwhile, has cited the importance of defense deals in defending his decision to stick with the kingdom in the aftermath of the slaying.

Saudi Crown Prince Mohammed bin Salman has denied knowledge of the attack, although the CIA reportedly concluded that he ordered Khashoggi’s death.

Saudi Arabia and the U.S. entered formal discussions for THAAD in December 2016.



“After completing required congressional notifications in 2017, followed by many months of negotiation, signing letters of offer and acceptance marks a step toward protecting the United States and its regional partners from Iranian-origin missiles,” said the State Department spokesperson, who spoke on the condition of anonymity.

Keywords:
Category Government | 2018/11/30 latest update at 11:00 AM
Source : CNBC | Photocredit : Google
70 Views
Comments Add comment



Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources
Saudi Arabia Saudi Arabia news

Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources

Saudi Arabia’s Fawaz Alhokair Group plans to offer shares in its shopping malls business in Riyadh in the…

Saudi Arabia new rules

Property prices continue to fall in key UAE markets

UAE banks invest Dh87 billion in Saudi Arabia, Egypt

King Salman receives dignitaries in Riyadh King

King Salman receives dignitaries in Riyadh

The Kingdom’s Grand Mufti Sheikh Abdul Aziz Al-Asheikh, senior scholars, ministers and a group of citizens called on…

Saudi King Salman reshapes country’s political and security affairs council King

Saudi King Salman reshapes country’s political and security affairs council

Saudi King Salman on Thursday announced a new list of appointees to key positions in the country’s political…

Saudi Arabia’s Prince Talal bin Abdulaziz has died King

Saudi Arabia’s Prince Talal bin Abdulaziz has died

Saudi Arabia’s Prince Talal bin Abdulaziz passed away on Saturday, family members and Saudi media said on Twitter.…

Bahraini crown prince meets Saudi officials in Riyadh King

Bahraini crown prince meets Saudi officials in Riyadh

Bahrain Crown Prince Salman bin Hamad Al-Khalifa held talks with Saudi officials in Riyadh this week. His visit…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

1898 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government