Improved asset and strong lending growth to drive profitability, S&P Global says
finance7 hours ago
What took the US and Europe so long to condemn Iran at the United Nations for its role in destabilising Yemen? The Gulf countries have been saying it all along, but the delay in acknowledging Iran's arms shipments to the Houthi rebels has complicated efforts to bring normalcy to the country, the poorest in the Arab world. Yemen has suffered civil wars of different proportions, but the ongoing strife threatens the region as a whole because an outside country is involved. And when we say Iran is active in Yemen, we mean actively involved. The involvement is actively covert, through its proxy militia, but the weapons are getting bigger, like missiles. Sophisticated arms are being smuggled into the country, and the shipments are more dangerous now. Arab coalition forces have brought calm to the South of the country, but the Houthis remain in Sana'a, the capital. Late last year, it became known that Iran's Revolutionary Guard opened a new route to ship weapons to the troubled country to beat the embargo. Iranian ships began moving missiles and heavy armaments on its ships to waters deeper into the Arabian Gulf where there is a smaller naval presence. The weapons are then transferred to smaller boats and vessels that can evade coalition warships and patrol boats.
Iran and despotic regimes like Bashar Al Assad's in Syria are banking on Russia to give them diplomatic leverage at the UN. Moscow is obliging their requests and this is giving Tehran cover in the many proxy wars it runs in the Middle East. Russia also has an air force presence in Syria, which helps Iran spread its influence on the ground. Lately, reports said that the Iranian regime is setting up a permanent ground base in Syria which puts it in a conflict situation with Israel. Missiles in Yemen supplied by Iran pose immediate danger to the GCC countries. Since the 2015 nuclear deal with the West, Russia and China, Iran has been busy with missile development and proliferation. It has been developing drones, too. For an embargo to work, more sea patrols are important, and secondly Russia must play ball. But how to convince Moscow is the big question.
Improved asset and strong lending growth to drive profitability, S&P Global says
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