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Gulf Co-operation Council (GCC) states are reshaping their regional outlook, as transactional relationships replace some of the more ideologically-driven approaches taken since the 2011 Arab Spring. Former outcasts led by Iran and Syria are being welcomed into Gulf palaces once again, at least in part due to concerns the US can no longer provide a trusted security umbrella. In this rapidly changing environment, Iran could yet emerge as a significant new market for GCC investors.
Issue 1166 - 24 March 2023
Iran, Kuwait, Saudi Arabia, Yemen, Oman, United Arab Emirates (UAE), Qatar
While America and Europe continue to present a united front in response to Russia’s war in Ukraine, the UAE’s more ambivalent stance continues to cause concern in western capitals – and has the potential to undermine, or at least complicate, the country’s diplomatic and commercial relations with the United States and its allies.
Issue 1166 - 25 March 2023