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Saudi Arabia
Bahrain has announced it will not attend a proposed meeting in Oman with Iran and other regional nations regarding shipping safety in the Strait of Hormuz. The Bahraini Foreign Ministry cited concerns over regional security and reiterated its readiness for dialogue only after restoration of diplomatic relations with Iran, severed in 2016.
The United Arab Emirates intercepted a drone from Iran over its territorial waters, denying claims of an attack on the Al Menhad airbase. The incident follows renewed hostilities between the US and Iran, with Iran’s army stating that multiple drones targeted US assets in the region.
US oil companies reported significant profits amid rising prices due to the ongoing conflict with Iran, with Brent crude increasing approximately 22% since February. However, disruptions in the Gulf region have jeopardised their investments, potentially limiting future oil and gas supply from the area.
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The 21 Arab and Muslim-majority countries collectively condemned Israel’s recent attacks on Iran, expressing concern over escalating tensions in the region.
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President Donald Trump has declared the United States has “no stronger partner” than Saudi Arabia during the first stop of a whirlwind Gulf tour focused on investment and defence.
President Trump announced the lifting of long-standing US sanctions on Syria during his visit to Saudi Arabia, aiming to normalise relations with its new government.
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