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Ahmed Zaki Yamani, Who Helped Lead 1973 Oil Embargo, Dies

(Bloomberg) — Sheikh Ahmed Zaki Yamani, the former Saudi Arabian energy minister who helped direct the 1973 oil embargo and was later kidnapped by Carlos the Jackal, has died. He was 90.He passed away in London and will be buried in Islam’s holiest city of Mecca, state-run Ekhbariya TV reported.Yamani, along with counterparts in other Arab oil exporters and Iran, managed a series of production cuts in 1973 and halted supplies to the U.S. and other Western countries. The embargo, which caused an international crisis after oil prices spiked, was a response to Washington’s support for Israel in the Yom Kippur war against Egypt and Syria. It coincided with successful efforts by petrostates to wrest control of their resources from international companies and marked Saudi Arabia’s emergence as a leading power in the oil world.Harvard-educated Yamani, who spoke English and French as well as Arabic, was dismissed by King Fahd in 1986, by which time crude prices had dropped to record lows. He had held the position for 24 years, making him the longest-serving oil minister in OPEC.He was “the leading light in OPEC during his eventful years as oil minister,” OPEC Secretary-General Mohammad Barkindo said to Bloomberg. “He was a very patient listener at our meetings. But once he