Arabs to consider economic pressure

Press, Volume CXIII, Issue 33383, 15 November 1973, Page 13

Arabs to consider economic pressure

(N.Z.P.A.-Reuter—Copyright) CAIRO, November 14. The Arab nations would soon discuss the use of their huge holdings in foreign banks as an additional source of pressure alongside oil in the Middle East situation, the authoritative newspaper, “Al Ahram,” said today.

The semi-official newspaper said that the subject was on the agenda for the November 24 meeting of 18 foreign ministers which would pave the way for the Arab summit

meeting in Algiers four days later to discuss a unified Arab strategy.

The question of Arab investments abroad would figure in the foreign ministers’ talks on consolidating their joint economic action, “Al Ahram” said. It would be considered as another means besides oil to bring pressure aimed ultimately at getting Israel to withdraw from occupied Arab territory. Urgent contacts in Arab capitals to prepare for the Algiers summit meeting were taking place today against the background of the fragile cease-fire and gloom over Israel’s reported refusal to hand over checkpoints on the Cairo-Suez road to the United Nations as called for in Sunday’s six-point cease-fire agreement.

The Egyptian War Minister (General Ahmed Ismail) yesterday visited the Egyptian Third Army on the Suez Canal front and called on the troops to double their preparedness to “confront any

developments required by the situation.” From the 101st kilometre mark on the Cairo-Suez road, a Reuter correspondent, Granville Watts, reported yesterday that the Israelis continued to hold a checkpoint there and prevented a convoy of four busloads of foreign journalists from passing through bound for Suez town. '

All was reported calm along the road, however, after Monday night’s fist fight between Israel and U.N. troops at kilometre 119 when the Israelis started to dismantle a position set up by the Finnish soldiers of the peace-keeping force. A United Nations spokesman said later that more Finnish troops were sent in and stayed in the checkpoint area. The United Nations force commander, General Ensio Siilasvuo, subsequently visited the checkpoint and “found the situation very calm,” the spokesman said.