DUBAI (Reuters) - Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman was elevated to crown prince on Wednesday, replacing his cousin in a sudden announcement that confirms King Salman’s 31-year-old son as next ruler of the world’s leading oil exporter. Analysts said the change empowers Prince Mohammed bin Salman to move faster with his plan to reduce the kingdom’s reliance on oil, which includes the partial privatization of state oil company Aramco. He added that Mohammed bin Nayef supported the decision in a letter sent to the king. The decree said Prince Mohammed bin Nayef, long a favorite of Washington’s for his tough stance against Islamist militancy, is relieved of all positions. For many Saudis those changes have become inextricable from the person of Prince Mohammed, whose photographs adorns walls, car windows and advertising hoardings across the country and who has assumed a startling array of powers.

Source: Huffington Post June 21, 2017 04:29 UTC