Iranian warships take part in a military exercise in the Gulf of Oman in 2021. EPA
Iranian warships take part in a military exercise in the Gulf of Oman in 2021. EPA
Iranian warships take part in a military exercise in the Gulf of Oman in 2021. EPA
Iranian warships take part in a military exercise in the Gulf of Oman in 2021. EPA

China, Russia and Iran to conduct military drills in Gulf of Oman


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China, Russia and Iran launched joint maritime drills in the Gulf of Oman this week, the Chinese Defence Ministry said on Wednesday.

The drills taking place from Wednesday to Sunday will help “deepen practical co-operation among the navies of participating countries”, the ministry said.

China said it would be deploying the guided missile destroyer Nanning for the drills, which will include “aerial search operations, sea rescue, naval parade formation exercises, as well as other tasks within the framework of the drills”.

Other countries are also taking part in the “Security Bond-2023” exercises, the ministry said on Tuesday, without giving details.

China, Russia and Iran held similar drills last year and in 2019, underscoring Beijing's growing military and political links with nations that have been largely shunned by the US and its partners.

The Gulf of Oman is a popular site for holding military drills due to its strategic position for oil transport and Iran, Pakistan, Oman and the UAE all having coastlines along it.

Last week, China hosted talks between Iran and Saudi Arabia. It resulted in an agreement between them on Friday to restore full diplomatic relations after seven years of tensions.

While the US and Saudi Arabia have long-standing military and political ties, relations have frayed over the 2018 killing of US-based journalist Jamal Khashoggi, a critic of the kingdom’s leadership and cuts in production by the OPEC+ oil cartel that the administration said were helping Russia.

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

LIKELY TEAMS

South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.

India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.

Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes

Updated: March 15, 2023, 11:03 AM