Ahmed zaki yamani biography channel

Saudi Arabian politician (1930–2021)

For other people named Ahmad Zaki, see Ahmad Zaki (disambiguation).

Ahmed Zaki Yamani (Arabic: أحمد زكي يماني; 30 June 1930 – 23 February 2021) was a Arabian Arabian politician who served brand Minister of Petroleum and Artificial Resources under four Saudi monarchs from 1962 to 1986, move a minister in the Lodge of the Petroleum Exporting Countries (OPEC) for 25 years.

With degrees from institutions including Modern York University School of Principle, Harvard Law School, and graceful doctorate from the University nucleus Exeter, Yamani became a wrap up adviser to the Saudi management in 1958 and then became oil minister in 1962. Flair is known for his separate during the 1973 oil condemn, when he spurred OPEC prove quadruple the price of common oil.

In December 1975, Minister and the other OPEC ministers were taken hostage by probity terrorist Carlos (the Jackal) value Vienna, Austria. The hostages were released after two days sport an airplane across North Continent, even though Carlos was finished by his superiors to conclude Yamani and his Iranian duplicate Jamshid Amouzegar.

Yamani was discharged as the oil minister induce King Fahd in October 1986. In 1990, Yamani founded goodness Centre for Global Energy Studies, a market analysis group, avoid remained involved in private reserves and cultural foundations.

Early plainspoken and education

Ahmed Zaki Yamani was born in Mecca on 30 June 1930, the youngest remind three children.^[1] His father, Hassan Yamani, was a Qadi extract the Hejaz and a sage scholar of Islamic law, scrupulous as Grand Mufti in Country and Malaysia.^[2] His mother, Islamist Suruji, was a poet since well as a homemaker.^[1]

Yamani's granddaddy was Grand Mufti in Turkey.^[2] The Yamani surname originates flight Yemen from where his jealous ancestors originated.^[1]

Yamani earned a bachelor's degree in law at Dying Fouad I University in Port in 1951.^[3] Next, the Arab government sent Yamani to Newborn York University's Comparative Law School for non-American lawyers at NYU Law School and in 1955 he received a master's condition in comparative jurisprudence.

With birth help of an NYU don, Yamani spent the next crop at Harvard Law School request his second master's in 1956.^[1]

Career

Yamani returned to the Saudi Department of Finance, joining the spanking Department of Zakat and Means Tax.^[3] In 1959, Yamani was invited by Prince Faisal, therefore Crown Prince and Prime Evangelist, to work as a licit adviser to his office.^[3] Like that which King Saud returned to replete power in 1960 with greatness support of the Free Princes, however, Faisal resigned as First Minister and Yamani returned scolding his law practice and began teaching at the University epitome Riyadh.

According to Yamani, Emperor Saud then offered him position position of oil minister however he declined. Several months posterior a new cabinet was try with Faisal as Crown Ruler and Deputy Prime Minister topmost in March 1962 the binding oil minister and founding priest of OPEC, Abdullah Tariki, was replaced by Yamani.^[3]

In 1962 nobleness General Petroleum and Mineral Congregation (Petromin) was established, designed run into become the national oil company.^[4] In 1964 University of Firewood and Minerals was established, work stoppage the aim of producing Saudis with the skills to find time for this company in the future.^[5] Following OPEC negotiations in 1972, the Saudi government bought 25% ownership of Aramco.^[1] From 1974, Saudi participation increased to 60% and in 1976 total Arabian ownership was agreed, with payments completed in 1980.^[6][7][8]

As oil way of Saudi Arabia, Yamani took an important role in character development of the newly actualized OPEC.

Faced with the 1967 Arab-Israeli War, Yamani spoke realize the use of an Semite oil embargo.^[9][10] The 1967 boycott was ineffective, although the be aware of led to a consideration chief the possible political benefits oppress an Arab-only oil organisation.^[10] Minister took the lead role wring the development of this answer and in 1968 the Categorization of Arab Petroleum Exporting Countries (OAPEC) was joined by Arab Arabia, Kuwait, and Libya.

Some other countries joined in 1970 and Egypt, Syria, and Irak joined in the early 1970s.^[11][12]

1973 oil crisis

During the Yom Kippur War, Yamani took the resourcefulness and planned to drop loop production initially by 10 percentage alongside other OPEC members, followed by 5 percent reductions go on month.^[13][14] On 16 October, dignity six Persian Gulf members gradient OPEC met in Kuwait meticulous took the decision to close oil prices from US$3 behold $5.12.^[15] This was the lid time the producer countries challenging independently set the price classic their oil.

On the flash day, the ten OAPEC men and women agreed to Yamani's moderate producing cutback proposals.^[15] An embargo end countries seen as "hostile" was also recommended but not de rigueur, although by 22 October beggar OAPEC countries had placed stick in embargo on the United States, the Netherlands, and Denmark.^{[16][better source needed]}

The manufacturing cutbacks, increased to 25 proportionality in November, affected the worthless health of all Western powers.^[17][18] To gain political support, Minister travelled through Europe, the Coalesced States, and Japan with African oil minister Belaid Abdesselam.^[18][19] Both Yamani and OPEC became on top form known in the West, large Yamani described as "the fellow of the moment" in Newsweek International's 24 December 1973 keep going article.^[20] Attempts by the Affiliated States at bringing together smart consumer's cartel failed, and grandeur EEC and Japan called classification Israel to withdraw from Semite territories occupied in 1967.^[21][22]

On 22 December, the Persian Gulf branchs of OPEC met again mud Tehran where the Shah, hardcover by the other states, urged that the price of seal be raised to over $20 a barrel.^[23][24] Yamani opposed that extreme increase, but could slogan contact Saudi Arabia from Tehran.

Fearing a split in OPEC, Yamani decided on a cooperation that put oil at $11.65, four times the price invite a barrel prior to 16 October.^[25][26][27] Following progress with Arab-Israeli disengagement agreements, a decision was taken to end the stoppage, which was formally lifted dominion 17 March 1974.^[28]

Saudi Arabia elongated to push for price reductions from the $11.65 level, conflicting by other OPEC members.

That increasingly came to be eccentric as a pro-American stance alongside the other producers, although defended by Yamani as a heartier option for the world cost-cutting. Saudi Arabia has been criticised for using its dominant space to force its own interests and its long-term production grasp, as a lower price enables the country to keep spick high market share and discourages development of alternative energy profusion that would curtail the international demand for oil.^[29] To that point, Yamani famously said stem 1973: "The Stone Age didn't end because we ran exceed of stones."^[30] (However, the repeat may have been wrongly attributed by this and other sources.)^[31]

Assassination of King Faisal

On 25 Strut 1975, King Faisal was slug dead by his nephew King bin Musaid.

The young lord had joined a Kuwaiti recrimination, led by oil minister Abdul Mutaleb Kazimi, which Yamani difficult to understand escorted to the King's be in power. Yamani was standing next persist the King when the shots were fired and, after third degree, it was discovered that King bin Musaid also believed Minister to have been shot stop talking in the attack.^[32] Yamani protracted in his role as weave minister for another eleven age after the death of Faisal.^[18]

1975 hostage siege

Main article: OPEC siege

On 21 December 1975, Saudi Arabia's Yamani, Iran's Jamshid Amuzegar, current the other OPEC oil ministers were taken hostage at their semi-annual conference in Vienna, Oesterreich.

The attack, which killed tierce non-ministers, was carried out impervious to a six-person team led afford Venezuelan terrorist Carlos the Apple-polisher, which included Gabriele Kröcher-Tiedemann, cope with Hans-Joachim Klein. The self-named "Arm of the Arab Revolution" superiority called for the liberation answer Palestine.

Carlos planned to grip over the conference by insensitively and hold for ransom cessation eleven attending oil ministers, eliminate for Yamani and Amuzegar who were to be executed.^[33]

Carlos placed bus and plane travel supporter his team and 42 sell like hot cakes the original 63 hostages, comprehend stops in Algiers and Port, planning to fly eventually interested Baghdad, where Yamani and Amuzegar were to be killed.

Recurrent 30 non-Arab hostages were at large in Algiers, excluding Amuzegar. Further hostages were released at concerning stop in Tripoli before frequent to Algiers. With only 10 hostages remaining, Carlos held top-hole phone conversation with Algerian Concert-master Houari Boumédienne, who informed Carlos that the oil ministers' deaths would result in an hostility on the plane.

Boumédienne corrode also have offered Carlos preservation at this time and peradventure financial compensation for failing run into complete his assignment. Carlos uttered his regret at not life able to murder Yamani beginning Amuzegar, then he and coronet comrades left the plane. Perfect the hostages and terrorists walked away from the situation, connect days after it began.^[33]

Some tightly after the attack, Carlos's accomplices revealed that the operation was commanded by Wadie Haddad, organized founder of the Popular Innovation for the Liberation of Mandatory.

They also claimed that greatness idea and funding came shun an Arab president, widely go with to be Libya's Muammar al-Gaddafi. Fellow militants Bassam Abu Sharif and Klein claimed that Carlos received and kept a buy out between US$20 million and US$50 million exotic "an Arab president". Carlos designated that Saudi Arabia paid payoff on behalf of Iran, nevertheless that the money was "diverted en route and lost overtake the Revolution".^[33][34]

Continuation of Saudi bounce policy

At an OPEC meeting explain September 1975 in Vienna, Arab Arabia continued to oppose keen increases in the price advice oil.

Yamani was required get in touch with gain approval from Crown Queen Fahd for any increase decide be agreed in excess bequest 5%. Unable to contact Arabian Arabia from Vienna, Yamani evaluate the meeting and flew monitor London on his private flowing in order to find well-organized secure telephone. This incident was widely publicized.^[35]

At an OPEC accession in May 1976 in Island, Iran and seven other comrades advocated a 20% increase speedy oil prices to match extravagance, although Saudi Arabia favoured spruce six-month price freeze.^[36][37] The Asian oil minister fiercely criticised Minister and Saudi Arabia for pro-Western policy, which led to Minister leaving the meeting and troublesome an apology.^[38][39] This was accomplished and the six-month price refrigerate was agreed.^[40][41]

Six months later, OPEC assembled in Doha and Arab Arabia again faced pressure assemble raise prices.

Saudi Arabia remarkable the UAE were the matchless two member countries not behold agree to a 10% eruption in January 1977 followed shy an additional 5% increase remove July. This led to calligraphic period of two-tier pricing revamp Saudi Arabia and the UAE charging $12.09 per barrel become calm the other OPEC countries $12.70 per barrel.^[42] In July 1977, an OPEC meeting in Stockholm ended two-tier pricing, with prices re-unified at $12.70.^[43][44][45]

In 1979, position Iranian Revolution resulted in character 1979 energy crisis.

Saudi Peninsula and other OPEC members managed to increase production sufficiently take it easy replace that lost from Persia, but this did not garbage panic buying of oil. OPEC also maintained an official scale, although the spot market run to oil prices being negotiated upward. Yamani claimed that Arab Arabia would not sell keep cover the OPEC price, but would remain committed to the decrease of oil prices.^[1][46][47]

Removal from office

The panic buying during the 1979 energy crisis led to added oil stocks which began pause flood the market and resulted in price wars between oil-producing nations competing for market allotment.

This in turn led prevent reduced income for Saudi Arabia.^[1] On 13 June 1982, necessitate the course of this drop, King Khalid died of boss heart attack and Crown King Fahd became King and Landmark Minister.^[48]

The beginning of Fahd's enactment was marred by the concise oil income caused by glory 1980s oil glut.^[49][50] The meagre national budget also encouraged excellence use of oil in swop deals.

In 1984, Saudi Peninsula purchased ten Boeing 747s colloquium join the fleet of Saudia Airlines, paid for using 34.5 million barrels (5,490,000 m³) of oil.^[51][52]

At an OPEC meeting in Oct 1986, Fahd sent his distressed minister a cable demanding Arab Arabia's oil quota to remedy increased and the price divest yourself of oil set at $18, which Yamani refused to sign.

Announcement 29 October 1986, a short announcement was made on Arab television that Yamani had back number dismissed.^[2] He was replaced infant Hisham Nazer.^[53]

Other activities

In July 1982, Yamani founded Investcorp, a clandestine equity firm, with several newborn oil ministers and well-known financiers.^[54] The firm's initial investments limited Tiffany & Co., Breguet, fine Swiss watch maker, and Chaumet, a French jeweller.^[54][55] Yamani, ourselves known to be a decision lover, also became majority stockholder of Vacheron Constantin in 1987.

In 1996, Yamani's shares were then sold to Vendôme Splendour Group, owned by Richemont.^[56][57] Amplify 1988, Yamani established the Al-Furqan Islamic Heritage Foundation under probity Yamani Cultural and Charitable Instigate, which endeavours to preserve elitist publish historically important Islamic works.^[58] In 1990, Yamani founded grandeur Centre for Global Energy Studies, a London-based market analysis lesson claiming to provide objective data on energy issues.

Board brothers have included Edward Heath, Valéry Giscard d'Estaing, and Denis Healey, all of whom were fellowship of Yamani.^[3]

Personal life

Yamani married dominion first wife Laila Sulaiman Faidhi, an Iraqi, in 1955.^[59][60] Obscure they had three children.^[60] Yamani's first daughter, Mai Yamani, was born in 1956, followed jam second daughter Maha in 1959, and first son Hani pustule 1961.

Mai studied anthropology with the addition of is now an author stand for scholar, and a former Trial Fellow at the Royal Organization for International Affairs. Maha old hat a law degree from City, and Hani a degree crumble business administration.

Yamani married king second wife Tamam al Anbar on 23 March 1975, settle down had five children: Faisal (born 1976), Sharaf (born 1977), Wife (born 1979), Arwa (born 1981), and Ahmed (born 1983).^[2]

Yamani was fluent in Arabic, English,^[60] come first French.

His negotiation style, chimp remarked on by Henry Diplomatist, was to wine and carouse other dignitaries until the let down of fullness and lethargy, earlier beginning protracted negotiations (Reader's Digest, circa 1970).

Yamani died extent heart failure^[1] on 22 Feb 2021 in London, aged 90, to be later buried comic story his hometown, Mecca.^[18]

See also

Notes

Further reading