Saudi suggests ‘squeezing’ Iran over nuclear ambitions
Jay Solomon, Wall Street Journal- June 22, 2011
A leading member of Saudi Arabia’s royal family warned that Riyadh could seek to supplant Iran’s oil exports if the country doesn’t constrain its nuclear program, a move that could hobble Tehran’s finances.
U.S. syas Iran firm bypassed sanctions
Chad Bray and Jay Solomon, Wall Street Journal- June 21, 2011
Iran’s largest shipping company used a vast network of shell companies to move $60 million through New York bank accounts over the past three years in violation of U.S. trade sanctions, prosecutors said on Monday.
China: North Korea mulling initiatives for economic reform
Ben Blanchard, Reuters UK- June 22, 2011
North Korea is considering whether they need initiatives for economic reform and opening up, Chinese Vice Foreign Minister Cui Tiankai said on Wednesday.
South Korea to develop islands near western border with North Korea
Bomi Lim, Bloomberg- June 22, 2011
South Korea plans to spend 910.9 billion won ($848 million) to develop five islands near the western sea border with North Korea, including the one shelled by Kim Jong Il’s military last year.
The 10-year project is aimed boosting security and improving living conditions on the islands, Prime Minister Kim Hwang Sik’s office said today in a statement on its website.
Obama to Unveil Plan for Troop Drawdown
Adam Entous, Julian E. Barnes, and Carol E. Lee, Wall Street Journal- June 22, 2011
President Barack Obama will announce Wednesday the first steps in a gradual plan to extract the U.S. from the Afghanistan war, including an initial withdrawal of as many as 5,000 troops next month, defense officials say.
Pentagon crosses $1 Trillion threshold in War on Terror spending
Tony Capaccio,Bloomberg-June 21, 2011
The Pentagon says it has spent at least $1 trillion prosecuting the wars in Iraq and Afghanistan and defending the U.S. homeland, according to newly released Defense Department figures through April 30.
100-to-0 Vote Puts Panetta in Top Post
Carl Hulse, New York Times- June 21, 2011
Leon E. Panetta was confirmed unanimously by the Senate on Tuesday as the new secretary of defense, placing him in charge of the final stage of the withdrawal in Iraq and the Obama administration’s military policy in Afghanistan.
Japan, U.S. To Expand Missile Defense, Cyber Cooperation
Marcus Weisgerber, Defense News- June 21, 2011
The United States and Japan pledged to continue working together on missile defense, cyber and space initiatives, as well as expanding information-sharing and intelligence, surveillance and reconnaissance activities.
Raytheon to upgrade Saudi Patriot missiles for $1.7 Billion
Mia Lamar, Dow Jones Newswires- June 21, 2011
Raytheon Co. (RTN) was awarded a $1.7 billion sales contract by the Saudi Arabian government to upgrade the nation’s air and missile defense system. The Patriot defense system, which Raytheon first supplied to Saudia Arabia in the 1990s, is designed to provide protection against advanced air and missile threats.
China warns U.S. on South China Sea disputes
Edward Wong, New York Times- June 22, 2011
The Chinese vice foreign minister warned the United States on Wednesday to stay out of the increasingly tense territorial disputes and maritime conflicts in the South China Sea, which has some of the busiest shipping lanes in the world and is believed to be rich in oil and natural gas reserves.