After a meeting in Geneva, the US secretary of state, John Kerry, left, and the Russian foreign minister Sergei Lavrov, yesterday said they had agrees a framework for Syria to destroy its chemical weapons, and would seek a UN resolution to authorise sanctions if the regime failed to comply. Larry Downing / AP Photo
After a meeting in Geneva, the US secretary of state, John Kerry, left, and the Russian foreign minister Sergei Lavrov, yesterday said they had agrees a framework for Syria to destroy its chemical weaShow more

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NEW YORK // While the US-Russia deal to strip Syria of chemical weapons received praise for how quickly it was agreed upon, analysts said the agreement lacked a strategy to end the conflict.

Many had been convinced the talks in Geneva were a prelude to a never-ending process of smoke and mirrors designed to keep Washington at bay while the momentum for military intervention faded away.

Though it is uncertain whether Syria has signed on or will complicate the implementation of the initiative, it appears that the three countries involved will be satisfied for now.

But the central issue of ending Syria’s civil war has been obscured by the narrow focus on chemical weapons.

Analysts said the plan does nothing to address the continuing lack of a coherent strategy to achieve the end of a conflict that has killed more than 100,000 people and displaced nearly seven million.

“We’re still left with the question of what our Syria policy looks like,” said Michael Hanna, a Middle East expert at The Century Foundation think tank in New York. “I don’t think that approach is going to be tenable going forward: the stakes are increasing, the spillover effects are multiplying and laissez faire is not going to work here.”

There were some signs that the Obama administration, which had refused to become involved militarily in the two-and-a-half-year conflict, is realising that inaction is becoming costlier than limited involvement.

On Thursday, the US secretary of state, John Kerry, the Russian foreign minister, Sergey Lavrov, and the United Nations peace envoy, Lakhdar Brahimi, pledged to meet during the UN general assembly this month to set a date for renewed peace talks, known as the Geneva II process.

Also last week, there were reports that long-promised US light weapons were finally flowing to rebels and that the volume may increase.

But the White House remains wary of an opposition whose most potent fighters are Islamist militants, Mr Kerry said, and it has deep concerns about who would control a post-Assad Syria.

“I have seen no strong movement in the administration to do a lot to help the rebels, and I can’t say I see clear strategic thinking,” said Jeffrey White, a former Defence Intelligence Agency official. “There’s no reason to believe we will suddenly move from playing chequers to playing chess here.”

Strengthening the moderate rebels Washington says it considers to be the legitimate representatives of the Syrian people is only one facet of a plan to achieve a negotiated peace settlement.

Just as important, analysts say, is the need for political strategy by the opposition to convince the majority of Syrians sitting on the fence that they will have a say in the process if Mr Al Assad is forced out.

“And unless that is done now, unless [the opposition] says here are some practical proposals for why you should risk breaking with the regime, any diplomacy that arises from the chemical weapons issue that could start a virtuous cycle of wider talks won’t happen,” said Yezid Sayigh, a senior fellow at the Carnegie Middle East Center in Beirut.

However, the Syrian National Coalition has been unable to provide a cohesive front despite being recognised by the West as the official Syrian opposition.

Factional differences have hindered its plans to set up an interim government to administer rebel-held areas of the country.

It yesterday elected Ahmad Tumeh, a moderate Islamist, as provisional prime minister to replace Ghassan Hitto, who resigned in July after just four months in the post having failed to form an opposition cabinet from among the fractious group.

Mr Sayigh said that to build on the momentum and relaunch the Geneva II process, Russia and the US must have a concrete idea of what a feasible middle-ground compromise looks like, and then push both sides to begin taking steps, though he is doubtful the Assad government can ever be persuaded to negotiate.

“We have no evidence yet that the US is putting pressure on allies in the Middle East or the [Syrian] opposition to do anything on the diplomatic or political front,” he said. “How can the US put pressure on people without having a game plan beyond the immediate?”

Meanwhile, the Assad regime could emerge from the chemical weapons deal in a stronger position and reaffirm itself as the legitimate government to the international community.

“They will start saying: ‘We’ve given concessions and shown we’re a responsible state, so start treating us as such, not as a pariah’,” said Mr Sayigh.

Without a clear strategic vision, the US will not be able to easily counter this drift towards legitimacy, he added.

With the possible resumption of negotiations with Iran over its nuclear programme, which analysts said was Washington’s real priority in the Middle East, and a looming budget battle in Congress, many are sceptical that Mr Obama sees a return to the pre-chemical weapons status quo as a major problem.

“It’s going to be hard to maintain American interest,” said Ian Bremmer, the president of the Eurasia Group, a political risk consultancy based in New York.

“The real shame of all this is that Assad is more entrenched and the rebels are truly undermined.”

tkhan@thenational.ae

Mica

Director: Ismael Ferroukhi

Stars: Zakaria Inan, Sabrina Ouazani

3 stars

 


 

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Russia's Muslim Heartlands

Dominic Rubin, Oxford

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.”

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

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