November 21, 2008	Friday	Ziqa'ad 22, 1429

KUWAIT CITY, Nov 20: The United States had asked four oil-rich Gulf states for $290 billion to help it deal with the global financial crisis, Kuwait’s daily Al-Seyassah claimed on Thursday.

Quoting “highly informed” sources, the daily said Washington had asked Saudi Arabia for $120 billion, the United Arab Emirates for $70 billion, Qatar for $60 billion and $40 billion from Kuwait.

Al-Seyassah said Washington sought the amount as “financial aid” to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States planned to use the funds to help the ailing automobile industry, banks and other companies suffering from the global financial turmoil.

The four nations together produce 14 million barrels of oil per day, around half of the Opec’s production and about 17 per cent of world supplies.

The four states are estimated to have amassed close to $1.5 trillion in surplus in the past six years due to high oil prices that rocketed above $147 per barrel in July before sliding to just above $50 now.

The daily also said the US had asked Kuwait to write off its Iraqi debt estimated at around $16 billion.—AFP