Expert regional analysis by MEI scholars and contributors.
In 2017, Saudi Arabia’s Public Investment Fund and a number of Jordanian banks established the Saudi-Jordanian Investment Fund to channel $3 billion into the Jordanian economy. Two SJIF projects provide relevant case studies of the challenges facing Jordan’s broader efforts to attract more FDI and drive economic development.
The European Union just approved membership talks with Kyiv; that’s symbolically important.
But the EU’s postponement of critical military assistance is an alarm bell.
NATO Secretary General Jens Stoltenberg says to prepare for bad news this winter.
German Chancellor Olaf Scholz suggests support for Ukraine may be crumbling across Europe.
And there’s faltering confidence in America, as Europeans are beginning to ask whether the strategic interests of the United States end at its border with Mexico.
How did we get here?
Iran sees lucrative markets across the Black Sea region. It also sees an opportunity to expand strategic cooperation with Russia. And there’s just a chance that America will turn inward in 2025.
It’s all dangerous. To get the picture, start by connecting the dots.
At the September G20 meeting, host country India, along with the United States, the European Union, France, Germany, Italy, Saudi Arabia and the United Arab Emirates (UAE), signed a memorandum of understanding, a non-binding commitment to work towards building two separate “corridors”, essentially envisioning a political line that is connected by some new and some existing, or already under construction, physical infrastructure.
The Oct. 7 Hamas attack against Israel and the latter’s ongoing military operation in Gaza have stalled progress in the development of the India-Middle East-Europe Economic Corridor and raised questions about its prospects for eventual completion. The IMEC faces multiple viability challenges, but none of them are insurmountable; thus, its participants are unlikely to abandon it.
The renewed violence in Gaza could not have come at a less opportune time for the climate agenda in the Middle East. From energy economics to environmental degradation, the ripple effects of conflict will complicate the path ahead.
Outside of the security risks brought about by war, the Israel-Hamas conflict has yet to result in major changes in the regional natural gas market.
With no new interregional or international gas pipelines currently planned, gas-poor Morocco should consider alternative import schemes, such as LNG import via ISO tank containers, utilizing its well-developed port, rail, and road infrastructure.
China has long sought to brand itself as a “neutral” player and force for peace in the Middle East and elsewhere, willing and able to talk to “all sides.” Beijing’s nascent ambition to play the role of peacemaker and its potential to shape regional events was on display when it succeeded last March in brokering the détente between Riyadh and Tehran. The Israel-Hamas war offers no such low-hanging fruit. On the contrary, it poses a major test of China’s Middle East peace diplomacy — and an opportunity to examine some of our own, perhaps faulty assumptions.
Prigozhin’s coup was a serious warning sign that should prompt Turkey to cool ties with Russia and rebuild its relationship with the West. Yet today, Turkey and the West look at each other in terms of problems not solutions. While the political risks of reengagement are high for both sides, the potential rewards are well worth the effort needed to overcome them.
The state of Israel and the terrorist group Hamas are engaged in an existential conflict, each threatening the survival of the other, as well as the survival of civilians, both Palestinian and Israeli, caught in-between. The conflict could widen into a regional or even global crisis. For energy markets and the global economy, the risks are considerable and could swerve or accelerate in response to multiple variables.
As the existential threat of climate change continues to intensify, the future of fossil fuels has been thrust into the international spotlight. Reducing hydrocarbon production and consumption has gained traction in international climate talks amid warnings that the window to avoid catastrophic warming is closing quickly.
The latest war over Nagorno Karabakh lasted a single day, ending on Sept. 20. It is the third war over the region disputed between Azerbaijan and Armenia in the last three and a half decades.
But this time, it seems there was really only one party to the conflict. Armenia stayed out, leaving it to the Armenians of Nagorno Karabakh to surrender.
A hundred thousand people have fled to Armenia, roughly 80 percent of the Karabakh population. What’s more, Armenia’s most powerful allies, Iran and Russia, appear to be distracted and marginally engaged.