Aug. 1 (Bloomberg) — King Fahd, who led Saudi Arabia since 1982 as he balanced pro-U.S. policies and local Islamic forces, died after years of worsening health, state television reported. His age isn’t known, though he was in his early 80s. The king’s half-brother, Abdullah bin Abdulaziz al-Saud, who assumed day-to-day power after Fahd’s 1995 stroke, becomes monarch. He’ll be crowned Wednesday, a Royal Court spokesman said on state TV. Abdullah, who ignored terrorists in the kingdom for a decade, is now battling al-Qaeda cells in the country, where they killed almost 100 foreigners in the past two years. “I don’t expect any change in policies, only continuity,” Prince Turki al-Faisal, Saudi Arabia’s ambassador to the U.S., told reporters at a meeting in London. As ruler of Saudi Arabia since 1982 after the death of half- brother King Khaled, Fahd tapped the world’s largest oil reserves to bolster the royal family and bankroll Islamist groups and poorer Arab states. King Fahd died in King Faisal hospital in the capital, Riyadh, at 7:30 a.m. local time, said a member of the royal family, who declined to be identified. `Saudi Arabia is a dinosaur state,” said Anthony Harris, formerly the U.K.’s ambassador the United Arab Emirates, Saudi Arabia’s Persian Gulf neighbor. “It can’t be good for a country to ruled by leaders in their 80s,” Harris said. Al-Qaeda The ruling family’s balancing act began to unravel after 15 Saudi nationals took up the call of Fahd’s greatest nemesis, Osama bin Laden, and conducted the Sept. 11 terrorist attacks on the U.S. Two decades of per-capita-income decline while the House of Saud continued to build palaces across the world, along with an education system dominated by Islamic studies, provided a recruiting ground for al-Qaeda. To view more pictures and News update pls click READ MORE
Crown Prince Abdullah was born in 1924, according to the Web site of the Saudi embassy in Washington. He’s been heir- apparent since his half-brother became king and previously was Commander of the National Guard, a tribal force loyal to the al- Saud family.
His half-brother, Prince Sultan bin Abdulaziz, Minister of Defense, becomes Crown Prince, the Royal Court spokesman said on state TV. He was born in 1928, according to GlobalSecurity.org, an Alexandria, Virginia-based organization that tracks global security issues.
Prince Sultan is one of the so-called Sudairi Seven, sons of the founder of Saudi Arabia, King Abdulaziz, and one of his wives, Hussa bint Ahmad Al Sudairi. The seven include King Fahd, as well Prince Nayef, Minister of Interior, and Prince Salman, Governor of Riyadh.
Oil Boom
During the last five years, the kingdom has benefited from rising prices for oil, on which it depends for about a third of its gross domestic product. Prices in New York have almost doubled since 2001 when they averaged $25.95 a barrel, according to Bloomberg data. They’re averaging $51.53 a barrel this year. Oil today rose to its highest in more than three weeks in New York.
Crude oil for September delivery rose as much as 66 cents, or 1.1 percent, to $61.23 a barrel on the New York Mercantile Exchange, where it was up 36 cents at 1:50 p.m. London time.
“In times of danger, he maintained the integrity of his country and he defended regional stability,” French President Jacques Chirac said in a statement. Saudi-born bin Laden’s terror network has long opposed the royal family, accusing it of being insufficiently Islamic and too close to the West, particularly the U.S. The group is believed to have conducted its first attack in the kingdom as far back as 1996, when it killed 19 U.S. servicemen based in Khobar. Gun Battles The Saudi security forces are now locked in a continuing fight with militants across the country, including killing three in a gun battle on the outskirts of Mecca on April 21. The government says it has killed or captured 23 of the 26 most- wanted it included on a list published last year. Al-Qaeda militants have claimed responsibility for attacks on residential compounds housing foreigners in Riyadh and Khobar over the last two years. Following those incidents, employees of foreign-owned companies asked that their family members be sent home. Total SA, Royal Dutch/Shell Group and BAE Systems Plc were among the companies who met the request. “It’s quite clear to me that al-Qaeda wants to take down the royal family and the government of Saudi Arabia,” former U.S. Deputy Secretary of State Richard Armitage said after one of the attacks on foreigners in 2003. Palace Tutors The 11th of 45 sons of Ibn Saud, the founder of Saudi Arabia, Fahd was educated by palace tutors and his father’s circle of advisers. One of his first official assignments came at the age of 23 when he accompanied his older brother, Faisal, to the San Francisco conference in 1945 that founded the United Nations. “King Fahd was a man of great vision and leadership who inspired his countrymen for a quarter of a century as king and for many more years before that,” U.K. Prime Minister Tony Blair said in a statement. Saudi Arabia’s Tadawul All Share Index lost 140.46, or 1.1 percent, to 13,048.56 at 2:25 p.m. in Riyadh, according to the exchange’s Web site. Sixty-seven stocks dropped and seven rose. The index earlier tumbled as much as 5.9 percent. `Closeness to the U.S.’ In the years after World War II, the exploitation of Saudi Arabia’s oil reserves gathered pace and Fahd, along with other young Saudis, enjoyed the lifestyle that their wealth afforded, including the nightclubs of Monaco, London and New York, and palaces on the Mediterranean. His domestic policy as king was a balance between his liberalizing tendencies and the necessity of heeding demands from Islamic fundamentalists in the nation. When Fahd came to power he took the title “Custodian of the Two Holy Mosques” to appease religious leaders. It is a reference to Islam’s holiest shrine in Medina and the birthplace of the Prophet Mohammed in Mecca. He also pumped millions of dollars into fundamentalist education. “Fahd may have contributed to the rise of religious extremism by emphasizing his role as the protector of Islam’s holiest sites,” said Mohammed Abduljabbar, a political-risk analyst. “But it was a great achievement to develop closeness to the U.S. and the West, without paying a big price domestically.” Hussein Threat His concern about the kingdom’s safety from attack was highlighted in August 1990 when Iraqi President Saddam Hussein directed his army into Kuwait and was poised to continue into Saudi Arabia, leaving Fahd with little choice but to invite in 500,000 Western troops. Fahd, the royal family he headed, and his U.S. allies were resented by opponents inside and outside the kingdom who have pooled their resources to undermine the House of Saud. Most U.S. troops have now left Saudi Arabia, meeting one of bin Laden’s main demands. |
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 Saudia Arabia’s Prince Turki al-Faisal speaks to the media at the Saudi embassy in London following the death of King Fahd, August 1, 2005. Saudi Arabia’s King Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch in an apparently smooth succession that promised continuity in the world’s largest oil exporter and a key U.S. ally. REUTERS/Mike Finn-KelceyReuters – 2 hours, 1 minute ago  Pakistan has decided to observe a week of national mourning over the death of Saudi King Fahd(AFP/File/Joel Robine)AFP/File – 1 hour, 58 minutes ago  Saudi Arabia’s King Fahd leaves Cointrin airport in Geneva, Switzerland, in this Aug. 14, 2002 file photograph. King Fahd, who moved his country closer to the United States but ruled in name only since suffering a stroke in 1995, died early Monday, Aug. 1, 2005, the Saudi royal court said. He was said to be 84. Crown Prince Abdullah, the king’s half brother and Saudi Arabia’s de factor ruler, was appointed the country’s new monarch. (AP Photo/Keystone, Denis Balibouse)AP – 2 hours, 5 minutes ago  A Saudi man watches the news reporting the death of Saudi King Fahd in Riyadh, August 1, 2005. Saudi Arabia’s King Fahd died on Monday and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and a key U.S. ally. REUTERS/StringerReuters – 2 hours, 6 minutes ago  King Fahd of Saudi Arabia (R) and Egyptian President Hosni Mubarak listen to a Friday prayer sermon in this March 31, 1989 file photo. Kind Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Aladin Abdel Naby/FilesReuters – 2 hours, 5 minutes ago  ATTENTION EDITORS – CAPTION CORRECTION FOR CAI01D TRANSMITTED AT APPROXIMATELY 1145 GMT ON AUGUST 1, 2005. THE DATE ON THE CAPTION IS INCORRECT. IT SHOULD READ MARCH 31, 1989. ATTACHED IS THE CORRECT CAPTION, AND A CORRECTED VERSION IMMEDIATELY FOLLOWS THIS ADVISORY. WE APOLOGISE FOR ANY INCONVENIENCE CAUSED. REUTERS SINGAPORE. King Fahd of Saudi Arabia (R) and Egyptian President Hosni Mubarak listen to a Friday prayer sermon in this March 31, 1989 file photo. Kind Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Aladin Abdel Naby/FilesReuters – 2 hours, 6 minutes ago  Saudia Arabia’s Prince Turki al-Faisal speaks to the media at the Saudi embassy in London August 1, 2005 after the death of King Fahd. Saudi Arabia’s King Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch in an apparently smooth succession that promised continuity in the world’s largest oil exporter and a key U.S. ally. REUTERS/Mike Finn-KelceyReuters – 2 hours, 28 minutes ago  Saudi Arabia’s Prince Turki al-Faisal speaks to the media at the Saudi embassy in London after the death of King Fahd August 1, 2005. Saudi Arabia’s King Fahd died on Monday and Crown Prince Abdullah was swiftly pronounced monarch in an apparently smooth succession that promised continuity in the world’s largest oil exporter and a key U.S. ally. REUTERS/Mike Finn-KelceyReuters – 2 hours, 30 minutes ago  Saudi Arabia’s Prince Sultan reviews the Jordanian bedouin guards of honour in Amman in this undated file photo. Saudi Arabia’s King Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch in an apparently smooth succession that promised continuity in the world’s largest oil exporter and a key U.S. ally. Prince Sultan was named as Crown Prince. REUTERS/Ali Jarekji/FilesReuters – 2 hours, 36 minutes ago  Saudi Arabia’s King Fahd right, talks with Palestinian leader Yasser Arafat in this undated file photo. Saudi Arabia’s King Fahd, who moved his country closer to the United States but ruled the world’s largest oil producing nation in name only since suffering a stroke in 1995, died early Monday Aug. 1, 2005, the Saudi royal court said. He was said to be 84.(AP Photo/ Saudi Gazette)AP – 2 hours, 49 minutes ago  Saudi Arabia’s King Fahd sits in a wheelchair during an official ceremony in Riyadh, Saudi Arabia, in this 2003 file photo. Saudi Arabia’s King Fahd, who moved his country closer to the United States but ruled the world’s largest oil producing nation in name only since suffering a stroke in 1995, died early Monday Aug. 1, 2005 , the Saudi royal court said. He was said to be 84. (AP Photo/ Saudi Gazette)AP – Aug 01 4:23 AM  Saudi Arabia’s King Fahd right, talks with U. S. president Bill Clinton in this undated file photo. Saudi Arabia’s King Fahd, who moved his country closer to the United States but ruled the world’s largest oil producing nation in name only since suffering a stroke in 1995, died early Monday Aug. 1, 2005, the Saudi royal court said. He was said to be 84. (AP Photo/ Saudi Gazette)AP – Aug 01 4:25 AM  Crown Prince Abdullah waves as he arrives to open a conference in Riyadh, Feburary 5, 2005. Saudi Arabia’s King Fahd died on Monday and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. Picture taken February 5, 2005. REUTERS/Zainal Abd HalimReuters – Aug 01 4:23 AM  Saudi security men guard the Al-Qatif new oil production plant, 300 kms east of Riyadh, December 2004. Saudi Arabia’s King Fahd bin Abdul Aziz, who has died, leaves behind an economy experiencing its biggest growth in two decades thanks to a spectacular surge in oil prices.(AFP/File/Bilal Qabalan)AFP/File – Aug 01 4:19 AM  Saudi Arabia’s Crown Prince Abdullah attends the opening conference on Muslim charity groups in Riyadh in this October 22, 2002 file photo. Saudi Arabia’s Kind Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Ali Jarekji/FilesReuters – Aug 01 4:16 AM  Saudi Arabia’s Crown Prince Abdullah waves during the opening conference on Muslim charity groups in Riyadh in this October 22, 2002 file photo. Saudi Arabia’s Kind Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Ali Jarekji/FilesReuters – Aug 01 4:11 AM  Saudi Arabia’s Crown Prince Abdullah attends the the opening conference on Muslim charity groups in Riyadh in this October 22, 2002 file photo. Saudi Arabia’s Kind Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Ali Jarekji/FilesReuters – Aug 01 4:08 AM  King Fahd of Saudi Arabia shakes hands with British Prime Minister Margaret Thatcher, before they enter the Prime Minister’s residence No. 10 Downing Street, London, in this March 25, 1987 file photo. King Fahd, who moved his country closer to the United States but ruled the world’s largest oil producing nation in name only since suffering a stroke in 1995, has died, the Saudi royal court said Monday Aug 1, 2005. He was said to be 84. (AP Photo/ Gill Allen)AP – Aug 01 3:56 AM  Pakistani men watch the news about the death of Saudi King Fahd at an electronic shop in Karachi, August 1, 2005. Saudi Arabia’s King Fahd died on August 1, 2005 and Crown Prince Abdullah was swiftly pronounced monarch of the world’s largest oil exporter and key U.S. ally. REUTERS/Athar HussainReuters – Aug 01 4:02 AM  Saudi traders monitor the stock in Riyadh August 1, 2005. Ratings agency Moody’s Investors Service said on Monday that the death of Saudi Arabia’s King Fahd would have no impact on the sovereign rating of the world’s largest oil exporting nation. REUTERS/Zainal Abd HalimReuters – Aug 01 3:42 AM |
