US House Speaker Mike Johnson called on the White House to “use every available tool" to prevent the ICC from issuing arrest warrants for Israeli leaders. AP
US House Speaker Mike Johnson called on the White House to “use every available tool" to prevent the ICC from issuing arrest warrants for Israeli leaders. AP
US House Speaker Mike Johnson called on the White House to “use every available tool" to prevent the ICC from issuing arrest warrants for Israeli leaders. AP
US House Speaker Mike Johnson called on the White House to “use every available tool" to prevent the ICC from issuing arrest warrants for Israeli leaders. AP

US administration 'backs threats against ICC over warrants for Israeli officials'


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US President Joe Biden's administration is calling on the International Criminal Court to "stand down", amid warnings of arrest warrants against senior Israeli officials for war crimes, House Speaker Mike Johnson told reporters.

Mr Johnson threatened the court amid reports that the UN court may issue arrest warrants for Israeli Prime Minister Benjamin Netanyahu, Defence Minister Yoav Gallant and military chief of staff Herzi Halevi.

"They'd better not do that … I think that it would make us as a nation respond in kind to the ICC," the Republican leader said.

"I think a group of senators and House members who would move expeditiously and we might just turn the table on the ICC. They better be careful."

The Biden administration is on the same page, according to Mr Johnson.

He spoke on Tuesday afternoon to Secretary of State Antony Blinken, who "confirmed that the position of the White House is our position … they are calling for the ICC to stand down".

The chairman of the House foreign affairs committee, Michael McCaul, on Monday echoed those warnings from his party leadership.

Mr McCaul said in a statement that any ICC warrant against Israel would "be a big mistake, are wholly unjustified, and would set a dangerous precedent".

Israel does not recognise the authority of the ICC, but issuing warrants would mean that the 124 countries signed up to the body are obliged to arrest Israeli officials if they enter their territory.

The ICC is considering issuing a warrant against Israeli army Chief of the Staff Herzi Halevi, reports say. AFP
The ICC is considering issuing a warrant against Israeli army Chief of the Staff Herzi Halevi, reports say. AFP

Nations that recognise the court’s authority include the UK, the Netherlands and Germany, all major allies of Israel. The US, Israel’s most important ally, does not.

But Washington's adversaries have been quick to point out what they call hypocrisy in the US response to war crimes investigations on Israel, whose Gaza war has killed almost 35,000 Palestinians, including children at a higher rate than in any modern conflict.

Mr Biden last year said that the ICC decision to issue an arrest warrant for Russian President Vladimir Putin was justified over the invasion of Ukraine.

"Washington fully supported, if not stimulated, the issuance of ICC warrants against the Russian leadership," Russian Foreign Ministry spokeswoman Maria Zakharova said in a post on Telegram.

But "the American political system does not recognise the legitimacy of this structure in relation to itself and its satellites".

Arrest warrants would also be one of the most severe diplomatic blows to Israel since the start of the Gaza War.

Israel already faces widespread accusations of attacking civilians and creating a humanitarian crisis in Gaza to put pressure on Hamas, as well as a genocide case at the International Court of Justice.

“This is the first time that the occupation leaders fear punishment after silence has become impossible. Israel has always, in various ways, tried to hide its crimes,” a Palestinian political source told The National.

“But all of that went to waste with this war, which revealed the nature of the occupation, the reality of its political and military leaders and the brutality they are.”

The reports of potential action by the ICC come at a particularly sensitive time in Israel’s campaign in Gaza.

While a centrist faction wants to prioritise the release of Israeli hostages held in Gaza, including through a deal with Hamas, the more hardline ministers are calling on him to push forward with the military campaign against the group by attacking the southern Gazan city of Rafah.

US domestic tension because of the Gaza War has been in the headlines this week, amid controversy over nationwide university demonstrations in solidarity with Palestinians. AFP
US domestic tension because of the Gaza War has been in the headlines this week, amid controversy over nationwide university demonstrations in solidarity with Palestinians. AFP

Both sides have said that his coalition will be untenable if their demands are not met.

The Biden administration and other Israeli allies also fear ICC warrants could derail talks with Hamas to release hostages, which have entered a critical phase, Bloomberg reported on Monday.

Former Israeli hostage negotiator Gershon Baskin told The National that he did not think the prospect of ICC action would derail talks, and that the rumours they might could be “an Israeli tactic” to delay the warrants.

“If they issue indictments it would be interesting to see if any of the countries Israel cares about would implement them,” he said.

“The ICC issues warrants against lots of different people around the world, who often have immunity in the places they travel to.”

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Griselda
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ARGENTINA SQUAD

Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

SPECS
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: April 30, 2024, 7:29 PM