It has been claimed that the US has offered to contribute $5 billion to a new fund planned to be established to support Middle Eastern countries in rebuilding their energy infrastructure damaged by war.
According to a report by the Wall Street Journal, based on documents reviewed and unnamed US and Middle Eastern officials, Washington plans to contribute to the launch of a fund to be created for the reconstruction of energy facilities in the Gulf.
The report stated that the fund aims not only to repair damaged energy infrastructure but also to reduce dependence on the Strait of Hormuz for oil and natural gas shipments.
TOTAL INVESTMENT FUND TARGET OF $10 BILLION
It was reported that the proposal has been discussed with various Middle Eastern countries, including Saudi Arabia and the United Arab Emirates. It is alleged that the US aims to create a total investment fund of $10 billion by requesting support from eight Middle Eastern countries equal to its own contribution.
US officials speaking to the report stated that negotiations regarding the fund are ongoing and that the terms of the plan could change.
News Source: 12punto
