1. RICE BEGINS MIDEAST TALKS…United States Secretary of State Condoleezza Rice is hoping to offset the fundraising mission launched by Hamas’ leaders as she travels around the Middle East. Rice has begun a five-day mission in the region aimed at persuading Arab capitals not to transfer funds to a Hamas-led Palestinian government. Rice is also using the trip to explain the U.S. position on the Iranian nuclear program and Washington’s attempt to isolate Syria.
2. OIL PRICES ON THE UP WITH WORLD INSTABILITY…Ongoing violence in the Niger Delta, coupled with terrorism in Iraq and uncertainty over potential sanctions imposed on Iran have left oil prices climbing once again. The Media Line analysts are warning that crude oil could well hover around the $60 mark and possibly increase considerably above that level in the upcoming months. This week crude futures have been trading at some $61.
3. BUSH DEFENDS PORTS DEAL…United States President George W. Bush has been defending the sale of six seaports on the eastern seaboard to a company from the United Arab Emirates. There is increasing opposition to the sale from both sides of the aisle in Congress. Politicians are expressing security fears with regard to the transfer of the ports to DP World, which has just completed the purchase of the United Kingdom’s shipping giant P&O – which until now ran the ports. Bush says Washington has scrutinized the deal and is happy with the sale. He told reporters on board Air Force One he will veto any move from Capitol Hill aimed at scuppering the deal.
4. RUSSIA: PREMATURE TO SPEAK OF IRAN TALKS AS ‘FAILURE’…Moscow is attempting to explain away the early departure of Iranian nuclear negotiators from talks with their Russian counterparts. The Iranian delegation walked out on Tuesday after a day and a half of negotiations aimed at finding a compromise between Iran and the international community. The International Atomic Energy Agency has already referred the issue to the United Nations Security Council. Moscow and Tehran have been discussing the possibility that Iran’s uranium-enrichment process be carried out on Russian soil. The reason for the Iranians’ departure is unclear, but senior Russian officials have been suggesting talks will resume soon and that it is too early to speak of their outcome as either a failure or a success.
5. BOMB DESTROYS KEY SHI’ITE SHRINE…The latest bombing in Iraq has reportedly destroyed the golden dome of one of the holiest shrines for Shi’ite Muslims. The 10th and 11th imams are said to be buried in the Al-‘Askariyya Shrine in Samara, a city to the north of Baghdad. There are no reports of injuries as the blast occurred early in the morning.