Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
A defense treaty in return for Saudi normalization is illusive, but Biden can still seal a historic deal.
The Gulf states emerged from the global pandemic with the wind in their economic sails. But high-profile events like Qatar’s hosting of the FIFA World Cup and the UAE’s World Expo continued to mask two subtle but major weaknesses that have plagued them for decades. Why do Gulf economies lack innovation? And why do they struggle to create private sector employment for nationals?
Saudi leaders have stepped up their plans for developing peaceful nuclear energy, inviting technical bids to the planned construction of two 1.4 gigawatt-electric nuclear reactors and restating the kingdom’s intention to use domestic uranium resources for producing low-enriched uranium as nuclear fuel.
The current complex situation in the global oil market seriously tests the abilities of OPEC+ to play the role of a regulator, forcing Saudi Arabia to assume the main burden of responsibility for keeping oil prices from declining further and for shoring up the cartel ranks.
American and European eyes are set on Riyadh. Both the Biden administration and the European External Action Service are currently trying to advance policy moves that involve Saudi Arabia and that – if successful – will reshape the Middle East. Alas, when it comes to the Israeli-Palestinian issue, these European and American efforts are quite different, and even seem contradictory.
Several foreign ministers gathered in an Asian capital to negotiate an end to regional turmoil. One of the countries represented at the meeting brokered an agreement to end hostilities between the others.
After issuing positive statements around greenfield blue hydrogen projects in late 2022, the company, Bloomberg now reports, may be migrating away from the hydrogen scheme and toward LNG exports. Both would require significant capital investment. Assuming the company decides to pursue an LNG export project, it will face many potentially value-erosive challenges and risks that must be overcome before achieving economic success.
It is too early to tell whether the Wagner “uprising” is a one-off or foreshadows further cracks and the eventual collapse of Putin’s presidency, but the latter outcome would have lasting consequences in the MENA region.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
Despite a substantial growth in trade between China and Iran, especially when it comes to Chinese exports to Iran and purchases of Iranian oil, the same cannot be said for Beijing’s investments in the Iranian economy, which have remained anemic, particularly in the critical energy sector.
Several Gulf states have introduced renewable energy certificates into their low-carbon energy eco-system. What are RECs and how can they help companies navigate the energy transition?
The prevailing political spirit in the Gulf region is presently one of de-escalation. In the case of the UAE and Iran, a number of existing connections could help hasten the process of de-escalation and enable it to happen faster than anywhere else in the region.The outcome should be of interest not only to the UAE and Iran but also to the U.S. given the latter’s long-standing efforts to shape Iranian policies.
The “Axis of Resistance,” a network of non-state actors aligned with Iran, has emerged as a significant force in the Middle East in the last two decades. Despite the attention given to the more well-known members of the Axis of Resistance, the Azerbaijani group Hoseyniyun, which also operates within the network, remains relatively unknown.
In the 1950s-1970s, the bilateral relationship between Israel and pre-revolutionary Iran provided a road map for the process leading to a normalization in ties between the Jewish state and Arab countries in the 2020s.