Quoting “highly informed” sources, the daily said Washington had asked Saudi Arabia for $120 billion, the United Arab Emirates for $70 billion, Qatar for $60 billion and $40 billion from Kuwait.
Al-Seyassah said Washington sought the amount as “financial aid” to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.
The daily said the United States planned to use the funds to help the ailing automobile industry, banks and other companies suffering from the global financial turmoil.
The four nations together produce 14 million barrels of oil per day, around half of the Opec’s production and about 17 per cent of world supplies.
The four states are estimated to have amassed close to $1.5 trillion in surplus in the past six years due to high oil prices that rocketed above $147 per barrel in July before sliding to just above $50 now.
The daily also said the US had asked Kuwait to write off its Iraqi debt estimated at around $16 billion.
Photo : Wall Street sign near the New York Stock Exchange. The US markets have plunged to 11-year low
Tags: Arabs, Business, Economy, Kuwait, Qatar, Saudi Arabia, source: dawn.com, Stock Exchange, UAE
