Research & Commentary Results

The leaders of the six GCC member states will meet in Riyadh on Dec. 10 amid signs that the 30-month-old confrontation with Qatar by the self-described “Anti-Terror Quartet” is diminishing.

The 12-country Gas Exporting Countries Forum (GECF), which held its latest meeting in Equatorial Guinea on Nov. 28, has never had OPEC’s ability to control energy prices, but that is likely to change as liquefied natural gas (LNG) transforms the gas market from a regional to a global one.  

Four decades on, echoes of the November 1979 assault on the Grand Mosque in Mecca continue to reverberate. Coming on the heels of the Iranian revolution and days after the Iran hostage-taking, the Mecca attack, carried out by a group of several hundred Saudi extremist Islamists declaring a new Mahdi, shocked the Sunni world and pushed Muslims in a far more conservative direction.

The Saudi Aramco IPO got started this Sunday morning with shares priced at SAR 30-32 ($8-8.50) each, valuing the company at $1.7 trillion, $300 billion below the original estimate. The lower valuation has been expected for some time by most investment banks and many financial analysts. The proceeds are expected to fund the Public Investment Fund’s forays into non-energy-based companies, advanced technologies, and even robot-filled cities.

After more than two months of Saudi-mediated indirect talks between the Republic of Yemen Government (ROYG) and the UAE-backed Southern Transitional Council (STC), the two sides finally reached a deal on Nov. 5. The Saudi effort, which culminated in the signing of the Riyadh Agreement, is aimed at resolving the conflict within the Arab coalition-backed front and uniting the two parties in the fight against the Iranian-backed Houthi militias. The agreement, which spans political, economic, security, and military arrangements, involves restructuring the executive, military, and security branches of the ROYG, partial disarmament of STC-loyal forces, and the demilitarization of Aden — all of which will be phased in over the next three months.

After violent confrontations with the government of Yemen and repeated struggles for autonomy, members of the Southern Transitional Council (STC), which represents a political movement that calls for secession, appeared satisfied with the terms of a deal that will be signed with the government of Yemen in Riyadh on Oct. 31. The Saudi-brokered agreement united the conflicting parties in their fight against the Iran-backed Houthis, with a strong vision aimed at stopping any side-show that could endanger this effort.

The FII’s public relations bash is important in that it shows the world that the leadership of the kingdom has an ambitious and real vision to move the country forward.

Putin’s visit to Saudi Arabia and the UAE takes place as the U.S. position in the Middle East collapses in the face of a series of misjudgments and “own-goals” by the Trump administration.

President Vladimir Putin heads to Riyadh to try to pry loose multi-billion-dollar investments that Saudi Arabia has pledged to Russia but failed to deliver on. Putin also hopes to persuade the kingdom to increase two-way trade.

On Sept. 16, the presidents of Russia, Iran, and Turkey met in Ankara to discuss the resolution of the Syrian civil war. In all three countries, the Ankara summit was hailed as a major success, as negotiations on the formation of a Syrian constitutional committee concluded and progress was made toward resolving other outstanding challenges, such as the future of northeastern Syria and the ongoing struggle for Idlib.

After five years of indecisive war, there is a clear desire on the part of the international community to bring the conflict in Yemen to an end, and the recent UN-endorsed Houthi initiative seems predicated on the assumption that ending the fighting between Riyadh and the Houthis would achieve this. A closer look at the situation, however, suggests this assumption is flawed.

Although the Houthi militia claimed the attacks on Saudi Aramco oil facilities in Saudi Arabia on September 14, experts doubt that the drones were launched from Yemen. Despite the Houthis’ affirmations and Iranian denials, investigations by the US and the Arab Coalition have demonstrated the weapons used were Iranian, and the location of the oil installations in northeastern Saudi Arabia makes them almost certainly out of range from Yemen.

The Saudis made their first cautious moves to disentangle themselves from Yemen but remain far from any settlement. In response to an earlier announcement of a unilateral ceasefire by the Houthis on the fifth anniversary of their entrance into Sanaa, Saudi Crown Prince Mohammad bin Salman said that a settlement in Yemen would be far easier if the Houthis abandoned their Iranian backers. His comments come after the Saudis announced a partial ceasefire covering some areas in Yemen, but Saudi planes attacked Houthi positions in northern Yemen along the border as if to emphasize that it is only a partial ceasefire.

The murder of Saudi journalist Jamal Khashoggi remains a black mark on the record of Saudi Crown Prince Mohammed bin Salman and an obstacle to his efforts to promote an image of the kingdom as a modernizing power in the Middle East and a prime destination for investors and tourists alike.

Many international commentators continue to present the war in Yemen through the lens of Saudi Arabian intervention or sectarian conflict. This narrative has even influenced the US Congress, where some members have passed legislation that rests on the assumption that the war is between the Houthis and Saudi Arabia, rather than against their fellow Yemenis. While the Saudis have intervened in the conflict and the Houthis have often played the sectarian card, neither narrative accurately reflects the current conflict between the Houthis and the UN-recognized government of Abd Rabo Mansour Hadi.