Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
As the countries of the Gulf Cooperation Council (GCC) work to transform from hydrocarbons-driven to data-driven economies, they will need to make significant and well-planned invest-ments in digital infrastructure, particularly when it comes to the complex issue of data govern-ance. They must take the lead in establishing regulatory and legal frameworks aligned with international standards in terms of data gathering, processing, and storing procedures. This report highlights the existing laws and regulations that govern data protection in the GCC while addressing their potential and limitations, along with the similarities and differences between the GCC’s legislative frameworks and the EU’s General Data Protection Regulation, and the impact of the GCC’s current data protection laws on individuals, the private sector, regulators, and governments.
Following the resignation of the finance minister and his replacement by a loyalist on Dec. 2, the Turkish lira continued its steady decline against the dollar, bringing its losses for the year to nearly 50%. The Central Bank of the Republic of Turkey’s early cuts to the policy rate since September have resulted in an exodus of foreign capital and a rush in demand for foreign exchange among domestic investors.
The UAE will celebrate the 50th anniversary of the qiyam al-dawla (establishment of the state) and qiyam al-ittihad (establishment of the federation of seven emirates) on Dec. 2. Since 1971, the Emirati political elite has addressed the complex responsibilities of building a functional bureaucratic apparatus while shaping the nation’s identity. An oil-based model informed this state-building process and the expectations of citizens for decades, but the country now faces a more complex environment. New challenges such as the growing youth population, the drive toward sustainability, and changing patterns within the global economy affect the current Emirati political agenda; however, the UAE leadership must balance the urgent search for innovative strategies with Emirati haweeya al-watani (national identity) and turath (heritage).
While oil prices have rebounded before soaring since the depths of collapse in the spring of 2020 — with Brent crude prices skyrocketing from $19 per barrel in April 2020 to a three-year high of $86 per barrel in October 2021 — the prospects for a sustained high oil price for Gulf producers is unlikely.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
During his recent visit to Tbilisi, U.S. Defense Secretary Lloyd Austin poured cold water on the idea of American support for a so-called “3+3 format” in the South Caucasus. When asked about the proposal, he said, “I would just say that Russia, which currently occupies 20% of Georgia’s territory, should focus on honoring its 2008 cease-fire commitments before promoting any new discussion platforms.”
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
The Strait of Hormuz is one of the world’s most important maritime chokepoints, vital to the global supply of both oil and liquefied natural gas. The issue of freedom of navigation in the strait has long been a source of tension, but until recently any attempt by Iran to physically close it looked highly implausible, unless it resulted from either a major embargo or total blockade of Iranian ports by the West, or a large-scale military confrontation. However, the events of the past three years showed Iran can still ensure a major disruption of the flow of energy without a formal blockade and without an increased risk of military confrontation with the West. Iran has a variety of means at its disposal, especially through its Islamic Revolutionary Guard Corps naval forces, and the Iranians make no secret of their desire to be recognized as the dominant military power in the Gulf and the Strait of Hormuz.
Integrated air and missile defense will make America’s partners in the Persian Gulf safer and bolster America’s policy against Iran. It’s past time to make IAMD a priority.
Mohammed Alsulami and Kasra Aarabi join Banafsheh Keynoush to discuss the latest talks between long-time regional rivals Saudi Arabia and Iran. Several rounds of talks between Riyadh and Tehran been held in Baghdad since April. They are taking place amid a broader regional trend toward deconfliction and as negotiations in Vienna over the revival of the 2015 Iran nuclear deal appear to have bogged down.
Turkey’s official policy supports the territorial integrity of Ukraine and Georgia, and it sells UAVs and ships to Ukraine. Yet, trade continues with the Russian-occupied territories of Abkhazia and Crimea. By allowing this illegal trade, Turkey undermines both its own credibility and its trading partners’ security. Shipped goods not only help connect occupied zones to Russia, but trade also brings hard currency into these zones, which are outside the international banking system.
Turkey, like many countries worldwide, has recently faced severe environmental events. Suffering from floods and the worst wildfires in its history in the summer of 2021, the country finally took an important step to tackle climate change, ratifying the Paris Agreement international treaty on climate change on Oct. 6, 2021.
The kingdom is unlikely to achieve net zero emissions soon, but the ambition to do so, and the plan, is an impactful step in the right direction, write Jim Krane and Karen E. Young in their new piece for Al-Monitor.