Although the current oil-market landscape might seem beneficial to the Gulf states, it will be difficult to sustain amid major drops in global oil supply, Washington’s standoff with Moscow and Tehran, and quota disagreements between Saudi Arabia and Russia.
On Sep. 13, 1993, President Bill Clinton presided over one of the most dramatic handshakes in modern history. On the White House lawn, the handshake between Israeli Prime Minister Yitzhak Rabin and the Palestinian Liberation Organization Chairman Yasser Arafat was hailed as a political breakthrough that would constitute the dawn of a new era for the Middle East. Now, 25 years after the announcement of the Declaration of Principles––also known as the Oslo Accords––the prospect of peace appears more elusive than ever.
Bearish and bullish factors are both at play in the global oil market, weighing on prices. The next big date on the calendar is November 4 — the point at which the 180-day wind-down period ends and U.S. sanctions on the Iranian energy sector are to be reinstated. Two days later, the U.S. midterm elections are due to take place.
Last week, major news outlets reported that China National Petroleum Corporation had acquired French oil and gas company Total’s share in the development of Iran’s South Pars gas field, citing an elusive article published by Iranian state news agency IRNA.
Three months after Iraq held its latest parliamentary elections the results are still being counted. Meanwhile political parties are jockeying for power and Iraqi citizens are taking to the streets to protest the government’s handling of services and the economy. Dr. Abbas Kadhim, senior fellow at Johns Hopkins SAIS, Omar Al-Nidawi, Iraq director for Gryphon Partners, and Dr. Randa Slim, director of MEI’s Program on Conflict Resolution and Track II Dialogues, join host Paul Salem to discuss the situation.
Andrey Kortunov, director general of the Russian International Affairs Council, and Randa Slim, director of MEI’s program on Conflict Resolution and Track II Dialogues, join host Paul Salem to discuss the Helsinki Summit and takeaways from the latest meeting of the US-Russia Middle East Dialogue in Berlin, where participants outlined challenges and opportunities for US-Russian cooperation in Syria and elsewhere in the region.
Even though energy production and exports are the lifeblood of all Arab states in the Gulf, the present crisis between Qatar on the one hand and Saudi Arabia, the United Arab Emirates, Bahrain, and Egypt on the other has had very little influence on the economics of oil and gas either internationally or within the region. However, the countries involved have a lot to gain from a resolution of the conflict, particularly if it leads to greater energy market integration.
In this week’s Monday Briefing, MEI experts Charles Lister, Alex Vatanka, Randa Slim, and Marvin G. Weinbaum provide analysis on the US’s silence amid the Assad regime’s expansion, the Iranian president’s trip to Europe, the uptick in violence after Iraq’s elections, and the upcoming Pakistani parliamentary elections.
The decline of the US’s role in Syria
Charles Lister, Senior Fellow
As international companies leave Iran under U.S. pressure, the Iranian government is scrambling to salvage as much foreign investment as possible. The top leadership in Tehran believes the solution is to engage with Russia, China, and the “east” to replace the West’s hesitant commitment to the Iranian market. But this eastward approach is a pipe dream, and there is plenty of history to prove it.
Iran’s Russian desires
Amb. Lukman Faily, Iraq’s ambassador to the United States from 2013-2016, and Randa Slim, director of MEI’s program on Conflict Resolution and Track II Dialogues, join host Paul Salem to analyze the results of Iraq’s parliamentary elections and their implications for Iraq, the region, and U.S. policy going forward.
Irina Zvyagelskaya, of the Institute of Oriental Studies of the Russian Academy of Sciences in Moscow and Randa Slim, director of MEI’s Program on Conflict Resolution and Track II Dialogues, join host Paul Salem to discuss U.S. and Russian efforts to find shared interests in the region, from Syria to Yemen, and to avoid confrontation and escalation.
Since 2014, the Middle East Institute (MEI) has convened the Middle East Dialogue, a Track 1.5 initiative involving current and former officials and senior experts from across the Middle East as well as from China, Europe, Russia and the United States. These meetings focus on the conflicts in Syria and Iraq, and on the principles and architecture of a new regional cooperation framework in the Middle East. At the Dialogue’s most recent meeting in Baghdad, the group issued a consensus document outlining Good Neighborhood Principles for the Middle East.
Despite setbacks from the war against ISIS, Iraq remains the world’s fourth largest producer of oil, second only to Saudi Arabia among OPEC states. However, the administration of this vital natural resource has been plagued by corruption and disputes over how revenues should be allocated to promote equitable economic growth. The issue has drawn Iraq’s ethnic, sectarian, and political divisions to the surface.
Over the course of the last three years, the Middle East Institute convened a regional dialogue involving participants acting in their personal capacities from Egypt, Iraq, Iran, Jordan, Lebanon, Saudi Arabia, Syria, United Arab Emirates and Turkey. The dialogue also involved participants from China, Europe, Russia and the United States. The discussions resulted in the following declaration of good neighborhood principles for the Middle East agreed in Baghdad 15-16 December 2017.
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The Middle East dialogue, which began its twice-a-year meetings in October 2012, convened its eleventh meeting in Baghdad 15-16 December. Participants included current and former officials and senior experts from Egypt, Iraq, Iran, Jordan, Lebanon, Saudi Arabia, Syria and United Arab Emirates as well as China, Europe, Russia, and the United States.