Search Site

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Iran, Saudi Arabia, UAE, Iraq, other regional powers plan naval coalition

Iranian Navy Commander Rear Admiral Shahram Irani announces the formation of a new naval coalition.
  • The move reflects the region's understanding of the need for synergy and cooperation in establishing security
  • Iran, Russia, and China's annual naval exercises pointed to as a model for this regional coalition

TEHRAN — The Commander of the Iranian Navy, Rear Admiral Shahram Irani, has declared that a new naval coalition is in the process of being formed with regional countries including Saudi Arabia, UAE, Qatar, Bahrain, and Iraq.

This announcement was made during a televised program on Friday night where Admiral Irani spoke about the establishment of new regional and extra-regional alliances. He emphasized that regional countries now comprehend the significance of collaborative security strategies, achieved through the synergy and cooperation of the regional states themselves.

Admiral Irani also mentioned the annual naval exercises conducted by the coalition of Iran, Russia, and China, indicating that a regional coalition, comprising of these nations, is also being formed.

In his statements, he expressed that the majority of the countries in the North Indian Ocean region have recognized the necessity to unite with the Islamic Republic of Iran to jointly establish security through significant synergy. Oman, Saudi Arabia, UAE, Qatar, Bahrain, Iraq, Pakistan, and India were named as potential members of this coalition.

Previously, a report from a Qatari website stated that Iran, Saudi Arabia, UAE, and Oman are poised to form a joint naval force under China’s auspices, aiming to enhance maritime security in the Persian Gulf. The report by Al-Jadid, released on Friday, mentioned that China has begun mediating discussions among Tehran, Riyadh, and Abu Dhabi to strengthen safety measures for maritime navigation in this strategic water body.

Since the triumph of Iran’s Islamic Revolution in 1979, the Islamic Republic has consistently been opposed to foreign interference and presence in the region. The regional issues, it asserts, need to be addressed by the regional players themselves.