Key facts
- The US approved a $24.3 billion sale of 48 F-35 fighter jets to Saudi Arabia.
- The deal includes 49 engines and support equipment.
- Saudi Arabia is the first Arab country to acquire the F-35.
- Polish prosecutors indicted three former Orlen executives on August 7 over a $424 million loss.
- The Orlen deal involved Venezuelan crude oil and Tether cryptocurrency.
The US State Department has approved a significant arms sale to Saudi Arabia, authorizing the transfer of 48 F-35 fighter jets, along with engines and support equipment, in a deal valued at $24.3 billion. This approval marks Saudi Arabia as the first Arab nation to acquire the advanced stealth fighter aircraft. The decision was announced on Thursday, September 18, 2026.
In a separate development, Poland's state-controlled refiner, Orlen, incurred substantial losses amounting to approximately $424 million (1.6 billion zloty) from a Venezuelan crude oil transaction. Orlen's Swiss trading arm signed a contract for six million barrels of Venezuelan crude with Dubai-based Hannon International for $345 million on November 29, 2023. An advance payment of $230 million was wired within five days, following a meeting between Orlen's Swiss-unit chief, Samer Awad, and Hannon's founder. The payment was reportedly made in Tether cryptocurrency due to US sanctions on Venezuela's state oil company, PDVSA. Polish prosecutors have indicted three former Orlen executives on August 7, charging them over $378 million of the total loss, with potential sentences of up to 25 years. Prime Minister Donald Tusk described the reporting on the incident as "a disgrace in front of the entire world."