GULF WATCH: Day 112 : A Daily Briefing Paper On Developments In The Crisis
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Diplomatic Front:
Foreign ministers of the five permanent members of the U.N. Security Council started negotiations on a resolution authorizing a military strike against Iraq. Soviet President Mikhail S. Gorbachev urged the council to meet immediately on the gulf crisis.
President Bush, who will spend Thanksgiving with the troops in Saudi Arabia, was greeted by King Fahd upon his arrival in Jidda. Bush meets Friday with Syrian President Hafez Assad. Economic Front:
Shortfalls in the supply of oil will be made up by the end of this month, the Energy Department reported, although it warned that the market lacks a cushion of excess production. The department also reported that oil-producing nations such as Saudi Arabia are making windfall profits, although it did not say exactly how much more they are earning. Major Contributors Pledging Gulf Aid:
Saudi Arabia $10 billion
Kuwait $5 billion
Japan $4 billion
Germany $2 billion
European Community: $2 billion
In most cases, half is for troop deployment, half for poor nations affected by crisis .
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