DAR AL HARB/ISLAM - U.K./SAUDI ARABIA: AN UNPRECEDENTED MOVE BY SAUDI ARABIA - - - THEY OUTLINE FINANCIAL ASPECTS OF THEIR DEFENSE RELATIONS W/U.K.

SAUDI OUTLINES FINANCIAL TIES TO UK

ABU DHABI [MENL] -- For the first time, Saudi Arabia has outlined the financial aspects of its defense relationship with Britain.

Statements by the Saudi government have acknowledged that the son of Defense Minister Sultan Bin Abdul Aziz oversaw the transfer of billions of dollars in the Al Yamamah project, which brought $86 billion worth of combat aircraft, ships, training and maintenance to the Saudi kingdom over the last 20 years. Riyad said Sultan's son, Prince Bandar, maintained authority over Saudi Defense Ministry accounts established for Al Yamamah in Washington D.C.
Bandar responded to a series of articles in the British daily Guardian that asserted that he received more than $2 billion in secret commissions through Al Yamamah's prime contractor BAE Systems. The articles were followed by a television report by the state-owned British Broadcasting Corp. on June 11.

"These articles have given readers the impression that these funds were transferred by BAE as secret commissions as part of financial and administrative corruption during my work as the ambassador," Bandar said in a statement released by the official Saudi Press Agency.



Previous posts concerning the BAE SYSTEMS PLC stories:

10 YRS OF 100 MILLION POUND STERLING 'TRIBUTE' PAYMENTS TO PRINCE BANDAR BIN SULTAN OF SAUDI ARABIA

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"TRIBUTE" PAYMENTS TO SAUDI ARABIA, WHAT, WHEN & HOW MUCH DID PEOPLE IN THE KNOW, KNOW?!?

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BANDAR SAYS THAT HE WAS NOT THE RECIPIENT OF 'BRIBE/TRIBUTE' PAYMENTS FROM BAE SYSTEMS PLC




Pertinent Links:

1) SAUDI OUTLINES FINANCIAL TIES TO UK