US secretary of state Rex Tillerson, centre front, and British foreign secretary Boris Johnson, far right, sitting together during a meeting of foreign ministers of the G7 in Lucca, Italy on April 11, 2017. Mr Tillerson issued a stark choice to Russia during the meeting, calling on Moscow to choose either alliance with the US and its partners, or choose Assad, Iran and Hizbollah. Riccardo Dalle Luche/ANSA via AP
US secretary of state Rex Tillerson, centre front, and British foreign secretary Boris Johnson, far right, sitting together during a meeting of foreign ministers of the G7 in Lucca, Italy on April 11, 2017. Mr Tillerson issued a stark choice to Russia during the meeting, calling on Moscow to choose either alliance with the US and its partners, or choose Assad, Iran and Hizbollah. Riccardo Dalle Luche/ANSA via AP
US secretary of state Rex Tillerson, centre front, and British foreign secretary Boris Johnson, far right, sitting together during a meeting of foreign ministers of the G7 in Lucca, Italy on April 11, 2017. Mr Tillerson issued a stark choice to Russia during the meeting, calling on Moscow to choose either alliance with the US and its partners, or choose Assad, Iran and Hizbollah. Riccardo Dalle Luche/ANSA via AP
US secretary of state Rex Tillerson, centre front, and British foreign secretary Boris Johnson, far right, sitting together during a meeting of foreign ministers of the G7 in Lucca, Italy on April 11,

Tillerson tells Russia to break alliance with Assad, Iran and Hizbollah


  • English
  • Arabic

NEW YORK // Donald Trump’s most senior diplomat on Tuesday told Russia it must choose between aligning itself with the US and its partners or embracing the Syrian president Bashar Al Assad, Iran and Hizbollah.

Rex Tillerson, the US secretary of state, delivered his stark choice ahead of talks on Wednesday in Moscow with his Russian counterpart, Sergey Lavrov.

His visit – the first by a member of Mr Trump's cabinet – marks a test of whether the new administration can capitalise on a missile attack on a Syrian airbase last week to devise a strategy to end the six year-long Syrian war.

Russia remains Mr Al Assad’s most important international backer but Mr Tillerson made it clear that Moscow risked finding itself on the wrong side of history.

“Russia has really aligned itself with the Assad regime, the Iranians, and Hizbollah,” he said. “Is that a long-term alliance that serves Russia’s interest, or would Russia prefer to realign with the United States, with other Western countries and Middle East countries who are seeking to resolve the Syrian crisis?”

Iranian forces were first identified helping Mr Al Assad put down protests soon after they began in 2011. Since then, members of the Quds force have taken on training and advisory roles as well as fighting alongside their Shiite allies Hizbollah.

Mr Tillerson was speaking in Lucca, Italy, after G7 foreign ministers rejected a call by Britain to impose further sanctions against Russia for the sarin gas attack on the rebel-held town of Khan Sheikhoun that killed 87 people.

His Moscow visit was expected to be difficult even before Mr Trump’s retaliatory cruise missile strikes. US agencies are investigating Russia’s alleged role in trying to influence last year’s US election, complicating efforts to find common ground in tackling ISIL.

Russia has already said it would bolster Syrian air defences and suspend lines of communication with the US designed to avoid direct confrontations in the skies over the country.

The two powers traded further jabs on Tuesday.

Minutes after Mr Tillerson touched down in Moscow, the White House announced that Mr Trump had approved Montenegro’s accession to Nato. Russia has opposed any Nato expansion and is particularly sensitive when it comes to countries it views as within its sphere of influence.

For his part, Vladimir Putin claimed the US was planning to fabricate fresh gas attacks as a pretext for more missile strikes.

“We have information that a similar provocation is being prepared ... in other parts of Syria including in the southern Damascus suburbs where they are planning to again plant some substance and accuse the Syrian authorities of using [chemical weapons],” he said.

Meanwhile, Russia’s defence ministry on Tuesday said rebel forces in Syria had killed two Russian soldiers who were acting as military instructors to Syrian government troops.

“Russian professional servicemen who were in a unit of Syrian forces as instructors ... came under a mortar attack from a group of rebel fighters,” the defence ministry said in a statement quoted by Interfax news agency.

They bring Russia’s official death toll in the country to 29.

In a sign of intense diplomatic activity, Moscow announced it would also be hosting the foreign ministers of Iran and Syria for a three-way meeting on Friday.

Mr Tillerson is not scheduled to meet the Russian president. Instead he is expected to follow normal diplomatic protocol in meeting Mr Lavrov.

The US secretary of state said the Khan Sheikhoun attack showed Moscow had failed in its role under the terms of an earlier UN agreement to guarantee that Syria remained free from chemical weapons.

“It is unclear whether Russia failed to take this obligation seriously or Russia has been incompetent, but this distinction doesn’t much matter to the dead. We can’t let this happen again,” he said.

His words demonstrate how American thinking has changed both on Russia and broader foreign policy questions.

Mr Trump came to power as a fan of Mr Putin. His selection for secretary of state suggested a new detente. Mr Tillerson rose to prominence at Exxon-Mobil for successfully representing the company in Russia and is a friend of Igor Sechin, the head of Rosneft, the state oil company, and a close ally of Mr Putin.

But White House officials say Mr Trump was moved by images of dead children in Khan Sheikhoun.

The result appears to be a cooler view of Russia and a bolder interventionist stance than many analysts expected from the billionaire businessman’s campaign rhetoric.

That still leaves questions about how hard the US is working to remove Mr Al Assad from power. Mr Tillerson last week suggested diplomatic efforts had begun to pursue regime change, but at other times he has said it is a matter for the people of Syria. He said the reign of the Assad family appeared to be coming to an end.

“I think it is clear that we see no further role for the Assad regime longer-term given that they have effectively given up their legitimacy with these type of attacks,” he said before flying to Moscow.

foreign.desk@thenational.ae

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.”

Andor
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Tony%20Gilroy%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDiego%20Luna%2C%20Genevieve%20O'Reilly%2C%20Alex%20Ferns%3Cbr%3E%3Cstrong%3ERating%3A%205%3C%2Fstrong%3E%2F5%3C%2Fp%3E%0A
David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

EMILY%20IN%20PARIS%3A%20SEASON%203
%3Cp%3ECreated%20by%3A%20Darren%20Star%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Lily%20Collins%2C%20Philippine%20Leroy-Beaulieu%2C%20Ashley%20Park%3C%2Fp%3E%0A%3Cp%3ERating%3A%202.75%2F5%3C%2Fp%3E%0A