Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
The Black Sea basin has become a flashpoint due to Russia’s interventions in Georgia and Ukraine. This has implications not only for European security, but also for Mediterranean security as well. There are three key areas where the MENA region will be affected by a large-scale confrontation between Russia and Ukraine: energy, agriculture, and refugees.
The U.S. request for Qatari assistance in ensuring the EU’s energy security in case of a Russian supply disruption should be perceived as a political gesture of support addressed to Western allies and a warning to Russia. In reality, however, the American request is just one factor in Qatar’s calculations as it considers increasing its energy exports to Europe, and Doha’s final decision will be determined by an intricate combination of long-term economic and political considerations. In this equation political reasons may not be dominant and economic drivers will not always be in the West’s favor.
The Program on Economics and Energy asked our non-resident scholars and advisory council members for their outlook for 2022 on some pointed energy questions. Topics include oil prices, Iran’s production, OPEC+ output targets, and the adequacy of current SWF savings levels.
Expert regional analysis by MEI scholars and contributors.
Gulf oil producers do not envisage a post-2050 world devoid of hydrocarbons, even though two of the region’s biggest producers, the UAE and Saudi Arabia, have committed to net-zero carbon emissions by 2050 and 2060, respectively. Reconciling their future environmental commitments with their current reliance on hydrocarbons is going to be an arduous and expensive journey that starts with decarbonizing their oil and gas production to reduce their carbon footprint and increasing their domestic green energy production. With demand for oil and gas forecast to continue post-2050 — albeit at lower levels than now — their net-zero target does not equate to zero oil and gas production. Instead, their transition will differ from that of other countries and will happen at a different pace.
On Dec. 13, 2021, at a United Nations Security Council (UNSC) meeting, a draft resolution that would have recognized climate change as a security threat was rejected. The resolution, co-sponsored by Niger and Ireland, would have incorporated climate change as a security risk within the U.N. framework of conflict prevention strategies. What are the potential implications of this and what comes next? We asked seven experts to weigh in with their thoughts.
Saudi Arabia has undergone tremendous social change in recent years, but it has struggled to make good on some of its more ambitious financial goals. Much of the promised foreign direct investment has yet to arrive, and the kingdom’s growth agenda has drained its foreign reserves. Most of Mohammed bin Salman’s more eye-catching promises, including futuristic urban megaprojects, remain unfinished.
In a sign of strengthening relations, a long procession of foreign ministers from MENA visited China earlier this month. In addition, two MENA nations signed MoUs involving the BRI, China’s global infrastructure development effort.
As Russia amasses more than 100,000 troops along Ukraine’s borders, the Kremlin is holding the country at gunpoint while imposing outrageous demands on the West. NATO has never attacked Russia, while Moscow has waged wars against Georgia and Ukraine and still occupies their lands and militarizes the Black Sea.
Morocco’s phosphorus fertilizer industry, with its massive production capacity and international reach, has transformed the kingdom into a gatekeeper of global food supply chains. Morocco’s centrality to global food security rests with the fact that all food crops, indeed all plant life, require the element phosphorus to grow and Morocco possesses over 70% of the world’s phosphate rock reserves, from which the phosphorus used in fertilizers is derived. By becoming one of the world’s leading fertilizer exporters, instead of continuing to just export the raw material, Morocco has enriched its economy and elevated its international standing. In Sub-Saharan Africa in particular, the kingdom’s combination of joint venture partnerships in local fertilizer production and deft direct outreach to farmers has resulted in a remarkable boost in African agricultural yields and the notable expansion of Morocco’s soft power influence across the continent.
On Jan. 6, 2019, the eve of Orthodox Christmas, the Ecumenical Patriarchate in Istanbul awarded a decree of independence, known as a tomos, to the then-newly established Orthodox Church of Ukraine — a milestone in the country’s history. The move reversed a 1686 decision that had transferred jurisdiction over Kyivan Orthodox churches to Moscow. After 333 years, however, it’s not only the faithful who have changed their direction from Moscow toward Istanbul. Ukraine and Turkey are strengthening their strategic partnership by deepening their cultural, political, military, and economic cooperation.
إن استراتيجية المملكة العربية السعودية لزيادة محفظتها من الأصول النظيفة والمتجددة قد تم تعزيزها في عام 2021، حيث شهدت المملكة العديد من عمليات تمويل المشاريع في قطاع الطاقة الشمسية وأطلقت صندوق البنية التحتية الوطني لتنويع اقتصادها.
For months, Ukraine has been a central focus for Western foreign policy as Russia has continued its military buildup on the border, reaching 100,000 troops. Moscow has threatened to carry out a military attack and has now issued an ultimatum for the United States to bless a Russian sphere of influence over sovereign democratic countries such as Ukraine. But as consultations between the U.S. and Russia take place throughout the week, the West should bear in mind that Ukraine is only one part of the broader Russian problem. It is about all independent former Soviet states and essentially about the entire European security architecture. The U.S. and NATO cannot go over the heads of independent states and give into Russian demands; instead, they should buy time and invest in long-term European security, while refraining from rhetoric and ultimatums.
Saudi Arabia’s leviathan sovereign wealth fund, the Public Investment Fund (PIF), has recently sold a 5% stake in the Saudi Telecom Company (STC). The firm is the largest and most profitable in the regional telecoms sector. The 3.2B USD sale, completed in early Dec. 2021, is yet another step in Riyadh’s privatization drive as part of its Vision 2030 agenda, and highlights the growing role of the Kingdom’s domestic financial sector.