The India-Middle East-Europe Economic Corridor (IMEC) is a proposed multinational infrastructure initiative aimed at upgrading connectivity between the three regions through integrated trade, energy, and digital networks. Announced at the G20 summit in New Delhi in September 2023, IMEC is envisioned partially as a counterweight to China’s international infrastructure project, the Belt and Road Initiative.
Syria’s New Investment Law and the Return of State-Mediated Market Access
As Syria moves toward reconstruction, the country’s new authorities have already made a consequential decision about who will control the postwar economy. Last June, President Ahmed al-Sharaa enacted Investment Law 114 by presidential decree, granting sweeping and permanent concessions to investors. Yet rather than make those incentives broadly accessible, the law preserves the country’s longstanding model of state-mediated market access.
MENA Energy Recap, Q1-2026: Four Lessons From the Return of Tail Risk
This is a special edition of the MENA Energy Recap — a quarterly review of key energy developments that took place in the region from January through March of 2026 and what they signal in the months ahead. For Q1-26, the recap considers some of the long-term implications of the ongoing war in the region, which have caused the largest energy supply disruption in history, and what lessons these events hold for both near- and long-term energy dynamics in both the Middle East and the wider world.
The issue of diversification is difficult but urgent, given increasingly tight global climate policies, the advances of non-fossil technologies, and the limited lifespan of the KRI’s oil resources. Harnessing the region’s natural gas productively is the first step to a cleaner and more diversified economy.
A new momentum: Recalibrating Germany's foreign policy toward the Gulf monarchies
Facing the profound challenge of trying to diversify its energy supply while a destabilizing war rages on in Ukraine, Germany has looked to several Gulf monarchies to forge new energy partnerships. Notwithstanding heated domestic debates over controversial topics such as their human rights record, Berlin should consider a more comprehensive strategic approach toward the Gulf monarchies that encompasses issues beyond energy supply, such as joint efforts in regional integration and development.
Climate-induced migration in the GCC states: A looming challenge
Gulf states are collectively investing billions of dollars in developing renewable energy. Yet climate change patterns in neighboring regions, combined with rising average temperatures, could eventually trigger more serious climate migration problems for the Gulf countries themselves.
The Gulf states: Beneficiaries of the Russia-Europe energy war?
The Gulf states are often overlooked as indirect beneficiaries of the Russia-Europe energy war. In what ways and to what extent have they leveraged it? Are these benefits sustainable?
Eastern Mediterranean gas discoveries, progress, and what to watch in 2023
The challenge of developing export strategies for the offshore natural gas resources concentrated in the Eastern Mediterranean predates the Russo-Ukrainian war. Yet over the course of 2022, Europe’s intensifying energy crisis created a new and more immediate incentive to solve those export challenges, despite a great deal of work still to be done.
For the past ten years, Italy and Morocco have been two of the most economically dynamic countries in the Mediterranean basin. Morocco’s rise as a manufacturing and distribution hub for companies seeking to nearshore operations close to mature European end-markets, as well as emerging African end-markets, has created new potential synergies for a deeper Italy-Morocco commercial partnership.
Iran and cryptocurrency: Opportunities and obstacles for the regime
While cryptocurrency may offer Iran the opportunity to bypass sanctions and boost trade, it is by no means a panacea for such outcomes and comes with a host of obstacles, such as price volatility, economic uncertainty, energy consumption, and evolving regulation.
What role will China play in Ukraine’s post-war transformation?
Cost estimates for Ukraine’s post-war reconstruction already exceed many hundreds of billions of dollars. Given the Western world’s slowing economic prospects, Ukrainian elites admit that China looks increasingly likely to have a role in helping finance and rebuild Ukrainian infrastructure. But Chinese involvement comes with economic and security risks.
What the United Nations’ 6th Climate Assessment tells us about the Mediterranean’s climate future
The latest U.N. IPCC report details the alarming changes that Mediterranean countries will experience in the coming decades due to climate change, highlighting three critical areas — warming and droughts, declining ecosystems, as well as socioeconomic and public health risks.
Morocco and Israel: Economic Opportunities, Military Incentives, and Moral Hazards
The December 2020 Moroccan-Israeli normalization deal has evolved from a vehicle enabling Morocco to gain long-sought U.S. recognition of its claims on Western Sahara to a broader strategic partnership with Israel. But the relationship further strains relations with neighboring rival Algeria.
In Turkish-Russian relations, the Ukraine grain deal is not the point
The Ukraine grain export deal, which Turkey helped mediate over the summer, was saved last week to much fanfare; but the central unaddressed issue remains lifting Russia’s illegal blockade of Ukrainian ports, so Ukraine can freely trade with the world.
As liquidity problems worsen, Turkey turns to capital controls and informal FX flows
The Turkish economy’s foreign exchange liquidity problem is getting worse. The current account balance has been in the red this year with a monthly deficit of around $5 billion. The government has so far managed to avoid a repeat of the December 2021 currency shock by restricting capital mobility, further tightening regulations in October 2022.
