Bahrain hosts global assembly for sustainable digital growth 

The 3rd General Assembly of the global multilateral body will serve as a platform to discuss DCO initiatives, focusing on promoting digital prosperity.  Shutterstock
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Updated 28 January 2024
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Bahrain hosts global assembly for sustainable digital growth 

RIYADH: Global cooperation will be in focus as Bahrain hosts top officials from the member states of the Digital Cooperation Organization, addressing challenges in the sector for sustainable growth. 

The 3rd General Assembly of the global multilateral body will serve as a platform to discuss DCO initiatives, focusing on promoting digital prosperity.  

The forum, scheduled for Jan. 31, will be chaired by Bahrain’s Minister of Transportation and Telecommunications Mohammed bin Thamer Al-Kaabi, who is also the organization’s chairperson, as detailed in a joint statement by the ministry and DCO. 

The gathering will include ministers and officials from the 15 DCO member states, with Deemah Al-Yahya, the body’s secretary-general, and high-level delegations from partners and observers.  

Representatives from guest nations and international organizations will join, focusing on engaging in discussions regarding strategic initiatives aimed at strengthening global digital cooperation.  

The meeting will also address the status of the digital economy and ways to overcome challenges for achieving inclusive and sustainable growth in the sector. 

Al-Kaabi expressed appreciation for Bahrain hosting the assembly, where member states and distinguished guests discuss accomplishments and initiatives for digital prosperity and growth.  

He emphasized international cooperation to promote inclusive and sustainable digital transformation, maximizing gains for all countries. 

Furthermore, the minister said: “As a founding member of the DCO, Bahrain is committed to sharing its knowledge and expertise that have contributed to enhancing its economic growth. During Bahrain’s 2023 presidency, Qatar and Bangladesh joined the DCO as new member states.”  

Bahrain, he added, also initiated participation in DCO activities, such as the Digital Prosperity Awards, to foster cooperation, innovation, and digital transformation among member states, covering pillars of technological innovation, transformation, and community empowerment. 

Al-Yahya also stressed the significance of hosting the general assembly in Manama, highlighting that digital cooperation is crucial for maximizing the benefits of the opportunities presented by the digital economy. 

“The 3rd General Assembly of the DCO in Bahrain will serve as a strategic platform for the participation of member state governments, the private sector, and civil society in drawing a roadmap for the current year,” she said, adding this includes addressing growing challenges and exploiting opportunities to facilitate digital prosperity for all. 

She expressed excitement about meeting with representatives from DCO member states and guests in Manama. The goal is to review the achievements of 2023 and discuss initiatives for 2024, working towards the organization’s goals outlined in its 2030 Strategic Roadmap. 

According to the statement, key topics for exploration will include market growth and its impact on the digital economy, the value of data as a strategic resource in the digital age, and effective utilization for growth.  

The conversation will also delve into strategies for achieving a resilient digital economy, enhancing the quality of life, and emphasizing the crucial role of humans in the developmental process. 

The DCO brings together communications and information technology ministries in various countries, such as Bahrain, Cyprus, Ghana, Qatar, and more. Saudi Arabia hosted the second DCO General Assembly in February 2023.  

These countries collectively contribute to an aggregate gross domestic product of almost $3.3 trillion, comprising a market of nearly 800 million individuals, with over 70 percent of the population under 35. 


US allows countries to buy Russian oil stranded at sea for 30 days

Updated 13 March 2026
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US allows countries to buy Russian oil stranded at sea for 30 days

  • US issues 30-day license for stranded Russian oil purchases
  • Measure the latest by Trump administration to calm energy markets jolted by Iran war

The United States issued ​a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.
The announcement comes a day after the US Energy Department said that the US would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to curb sky-rocketing oil prices in the wake of the war in Iran. That release was part of a broader commitment by the 32-nation International Energy Agency to release 400 million barrels of oil. The agency said earlier on Thursday that he war in the Middle East ‌was creating the ‌biggest oil supply disruption in history. Bessent, in a statement on X ​released ‌hours ⁠after benchmark ​oil prices ⁠shot above $100 a barrel, said the measure was “narrowly tailored” and “short-term” and would not provide significant financial benefit to the Russian government.
“The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term,” Bessent said in the statement, echoing President Donald Trump.
Thursday’s license, which authorizes the delivery and sale of Russian crude oil and petroleum products loaded on vessels as of March 12, will remain valid through midnight Washington time on April 11, according to the text of the license posted on ⁠the Treasury Department’s website. The US Treasury previously issued a 30-day waiver on March ‌5 specifically for India, allowing New Delhi to buy Russian oil stuck ‌at sea. Among other measures to tame energy prices, Trump has already ordered ​the US International Development Finance Corporation to provide political ‌risk insurance and financial guarantees for maritime trade in the Gulf and said the US Navy ‌could escort ships in the region. In another attempt to control prices, the Trump administration is considering temporarily waiving a shipping rule known as the Jones Act to ensure energy and agricultural products can move freely between US ports, the White House said. Waiving the rule would allow foreign ships to carry fuel between US ports, potentially lowering costs and speeding deliveries.
“The president ‌is taking every action he can to lower prices ... unsanctioned oil that’s at sea to get that into the market, continuing to push our own ⁠producers to drill and ⁠expand production as fast and as far as they can, providing regulatory relief, and you’re going to see more and more in the days to come,” White House Deputy Chief of Staff Stephen Miller told Fox News’ “Primetime” program on Thursday.
There were about 124 million barrels of Russian-origin oil on water across 30 different locations globally as of Thursday, Fox News reported, adding that the US license would provide around five to six days of supply when taking into account the daily loss of oil from the Strait. Trump said earlier on Thursday the United States stood to make significant money from oil prices driven higher by the war, prompting criticism from some lawmakers who accused him of caring only about rich people.
US and Israeli strikes on Iran and the subsequent response by Tehran have widened regional tensions and paralyzed shipping through the Strait of Hormuz, disrupting vital ​Middle East oil and gas flows and sending energy ​prices higher.
Raising the stakes for the global economy, Iran’s Islamic Revolutionary Guard Corps says it will block oil shipments from the Gulf unless the US and Israeli attacks cease.