Kuwait has about seven percent of global oil reserves.
(File)Kuwait's emir on Saturday named a new crown prince, Sheikh Sabah Khaled al-Hamad al-Sabah, state media reported, just six months after taking over the throne and weeks after suspending parliament.
The 71-year-old sheikh was the Gulf state's foreign minister from 2011 to 2019 and then prime minister until 2022.
Kuwait entered new political turbulence in May when the 83-year-old emir, Sheikh Meshal al-Ahmad al-Sabah, dissolved parliament just six weeks after elections.
Kuwait has about seven percent of global oil reserves and one of the world's biggest sovereign wealth funds.
Kuwait has about seven percent of global oil reserves. (File)
Kuwait's emir on Saturday named a new crown prince, Sheikh Sabah Khaled al-Hamad al-Sabah, state media reported, just six months after taking over the throne and weeks after suspending parliament.
The 71-year-old sheikh was the Gulf state's foreign minister from 2011 to 2019 and then prime minister until 2022.
Kuwait entered new political turbulence in May when the 83-year-old emir, Sheikh Meshal al-Ahmad al-Sabah, dissolved parliament just six weeks after elections. He also suspended some provisions of the constitution.
He then named the second government since he took over as head of state in December.
Unlike other Gulf states, Kuwait has an influential parliament while most power remains with the royal family.
While lawmakers have powers their regular battles with the government causes repeat crises.
Kuwait has about seven percent of global oil reserves and one of the world's biggest sovereign wealth funds. But it has struggled in recent years to diversify its economy away from reliance on oil.
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