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Pompeo rejects claims that US has quit global role

US Secretary of State Mike Pompeo on Saturday rejected European pessimism about Washington's retreat from the global stage, saying the death of the transatlantic bond had been "grossly overexaggerated".
"The West is winning and we're winning together," Pompeo told the Munich Security Conference.
But he was immediately contradicted by French President Emmanuel Macron, who warned of "a weakening of the West".
The annual gathering of world leaders, generals and diplomats to discuss security challenges has been dominated by fears of diminishing Western influence in the face of a more assertive China and Russia.
In his opening speech a day earlier, German President Frank-Walter Steinmeier suggested that the United States rejected "even the idea of an international community" and was acting "at the expense of neighbours and partners".
"Those statements don't reflect reality," Pompeo retorted.
"I'm happy to report that the death of the transatlantic alliance is grossly over-exaggerated," he said, paraphrasing a famous Mark Twain quote.
He said Washington was playing a key role in keeping Europe safe by reinforcing NATO's eastern flank on the border with Russia, as well as leading a multinational effort to defeat the Islamic State jihadist group.
"Is this an America that 'rejects the international community'?" he asked.
"The free West has a brighter future than illiberal alternatives," Pompeo added, urging allies to have "confidence" in the transatlantic bond.
He stressed the need to work together against threats posed by Russia's territorial ambitions, China's military buildup in the South China Sea and Iran's "campaigns of terror" through proxy conflicts in the Middle East.
NATO chief Jens Stoltenberg, who also took to the stage in Munich, joined Pompeo in voicing dismay at the gathering's pessimistic tone.
"There is a competition out there in so many areas, with so many different actors, but simply lamenting that we have lost our way will not provide us with a way forward," Stoltenberg told the audience.
"Europe and North America are indispensable partners -- two sides to the same coin. together, we are half of the world's military might and half of the world's economic might."
In a nod to concerns about European reliance on Russian natural gas, Pompeo also announced that the US would finance energy projects in eastern EU countries.
"The United States –- through our International Development Finance Corporation, and with the support of the US Congress -– intends to provide up to $1 billion in financing to the Central and Eastern European countries of the Three Seas Initiative," Pompeo told the conference.
"Our aim is to galvanise private sector investment in their energy sectors."
The Three Seas Initiative is a club of 12 eastern and central EU countries who have grown increasingly concerned about over the Russian giant in their backyard since Moscow's annexation of Crimea from Ukraine in 2014.
At a Three Seas meeting in 2017, President Trump offered to supply the grouping with US liquefied natural gas so they would never be "hostage" to a single Russian supplier.
Washington's offer comes amid fierce US opposition to Russia's controversial Nord Stream 2 pipeline, set to double the country's gas shipments to Germany.
Washington believes the pipeline will give Russia too much influence over security and economic issues in western Europe.
source: AFP
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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