Antony Blinken confirmed as US Secretary of State


Joyce Karam
  • English
  • Arabic

The Senate on Tuesday confirmed President Joe Biden’s confidant Antony Blinken as the 71st US secretary of state.

He is set to bring a more diplomatic and less confrontational approach to American foreign policymaking than his predecessor, Mike Pompeo.

Mr Blinken, 58, was confirmed by the Senate with strong bipartisan support, with 78 senators voting yes and 22 no, after a 15-3 vote by the foreign relations committee on Monday evening.

He brings an international background to the position and one rooted in the Democratic political establishment, having served under former presidents Bill Clinton and Barack Obama.

Newly confirmed Secretary of State Antony Blinken is seen as a long-time confidant of President Joe Biden. AP Photo
Newly confirmed Secretary of State Antony Blinken is seen as a long-time confidant of President Joe Biden. AP Photo

He grew up between New York and Paris, is fluent in French, and is the son and nephew of US diplomats in Europe.

His stepfather, Samuel Pisar, survived Auschwitz during the Holocaust and went on to become an adviser to former president John F Kennedy.

Mr Pisar shaped his stepson’s thinking, especially on the “right to protect” and humanitarian interventions, something in which Mr Blinken was involved first-hand in the White House under Bill Clinton and the Bosnia and Kosovo interventions.

In his confirmation hearing last week, Mr Blinken struck a different tone in addressing America’s challenges, substituting the defiant “America First” approach of his predecessor with one focused on building partnerships and restoring the transatlantic coalition.

On Iran particularly, Mr Blinken charted a path to return to the nuclear deal that the administration of Donald Trump abandoned in 2018, but only after Tehran proves compliance.

“But we would use that as a platform with our allies and partners, who would once again be on the same side with us, to seek a longer and stronger agreement, particularly with regard to missiles and Iran’s destabilising activities,” he told the Senate.

But Mr Blinken regarded such a return to be a more medium-term goal.

“Having said that, I think we’re a long way from there," he said. "We would have to see ... what steps Iran actually takes – is prepared to take.”

He praised the Abraham Accord brokered by the Trump administration between Israel and four Arab states – the UAE, Bahrain, Morocco and Sudan.

But Mr Blinken said the Biden administration would “take a hard look” at some of the commitments made by the Trump team in the agreements.

He voiced a more hawkish tone on China than that during his time in the Obama administration.

“China had a policy for decades, as we describe it, of hiding their hand and biding their time in terms of asserting their interests beyond China’s borders, leaving aside what they were doing within their borders,” Mr Blinken said.

He is considered to be a long-time confidant of Mr Biden, having worked with him for almost 20 years as a member of his Senate staff.

Mr Blinken has been praised for his management skills, inclusiveness and ability to listen.

These are attributes he will need at the State Department, after a rocky era of politicising the department under both Rex Tillerson and Mr Pompeo.

But while not being an ideological choice, some of Mr Blinken’s policy decisions have drawn criticism, especially between 2009 and 2013, when he handled Iraq, as deputy assistant to Mr Obama and as national security adviser to Mr Biden.

“We would not have got out of Iraq in a way that left the government with a fighting chance to make it without Tony Blinken’s hard work,” Mr Biden said in 2013.

But it is that withdrawal and the policies of former Iraqi prime minister Nouri Al Maliki that many observers see as giving room for the ISIS resurgence in the country a year later, prompting a US military return to Iraq to counter the terrorist organisation.

The UAE Minister of State for Foreign Affairs, Dr Anwar Gargash, was quick to congratulate Mr Blinken, calling him a “thoughtful professional with disarming charm and humility",

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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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.”

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

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What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

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The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now  

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5