Iran third largest oil producer of OPEC family

According to OPEC’s first report of 2025, Iran maintained its position as the organization’s third-largest oil producer in December 2024, with an average daily production of 3.314 million barrels.

Data from OPEC’s Secretariat revealed that the organization’s 12 member states produced a combined total of 26.741 million barrels per day (bpd) in December, marking an increase of 26,000 bpd from November.

Saudi Arabia and Iraq retained their positions as the top two producers, with daily outputs of 8.938 million barrels and 4.019 million barrels, respectively.

Production from OPEC Plus members, which includes OPEC countries and allied producers, reached 13.913 million bpd in December, a decrease of 40,000 bpd compared to the previous month.

Overall, the combined output of OPEC and its allies in December totalled 40.654 million bpd, slightly lower than November’s 40.669 million bpd.

Iran’s heavy crude oil price averaged US$73 per barrel in December 2024, reflecting 0.3% increase. For the entire year of 2024, the average price of Iran’s heavy crude stood at US$79.71 per barrel.

Meanwhile, the OPEC Reference Basket price averaged US$73.07 per barrel in December 2024, a 1.0%MoM increase.

OPEC’s January report forecasts that global oil demand will grow by 1.45 million bpd in 2025, reaching a total of 105.2 million bpd.

The organization also projects that global demand will rise by an additional 1.43 million bpd in 2026, bringing the total to 105.63 million bpd.

  

Saudi Arabia welcomes Gaza ceasefire

According to the Saudi Gazette, Saudi Ministry of Foreign Affairs has expressed the Kingdom's welcome of the ceasefire agreement in Gaza, commending the efforts of Qatar, Egypt, and the United States in facilitating the deal.

Saudi Arabia emphasized the importance of adhering to the agreement, calling for an end to Israeli aggression in Gaza, the full withdrawal of Israeli occupation forces from the Gaza Strip and all Palestinian and Arab territories, and the return of displaced individuals to their homes.

The Kingdom further stressed the need to build on this agreement to address the root causes of the conflict.

It reaffirmed its support for the Palestinian people's rights, particularly their right to establish an independent state along the 1967 borders with East Jerusalem as its capital.

Saudi Arabia expressed hope that this agreement would bring a permanent end to the brutal Israeli war, which has resulted in over 45,000 deaths and more than 100,000 injuries.

Earlier, Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman announced the success of mediators in reaching a ceasefire agreement in the Gaza Strip, noting that its implementation is set to begin this Sunday.

During a press conference in Doha, Sheikh Mohammed stated that the first phase of the agreement will last 42 days and include the release of 33 Israeli detainees in exchange for an unspecified number of Palestinian prisoners.

He highlighted that Qatar, Egypt, and the United States “will work to ensure the implementation of the agreement,” with mechanisms in place to monitor its execution and address any potential violations.

The Qatari minister expressed his hope that “no military operations would be conducted during the period leading up to the implementation of the agreement.”

 

 

Lebanon: Army chief elected president

Lebanese parliament elected Army Chief Joseph Aoun head of state on Thursday, filling the vacant presidency with a general who has US support and showing the weakened sway of the Iran-backed Hezbollah group after its devastating war with Israel, reports Reuters.

In a speech to the chamber, Aoun, 60, vowed to work to ensure the state has the exclusive right to carry arms, drawing loud applause as lawmakers from Hezbollah, which runs its own military forces, sat still.

He promised to rebuild south Lebanon and other parts of the country he said had been destroyed by Israel, and also to prevent Israeli attacks on Lebanon, which was mired in deep economic and political crises even before the latest conflict. "Today, a new phase in the history of Lebanon begins," he said.

His election reflected shifts in the power balance in Lebanon and the wider Middle East, with Shi'ite Muslim Hezbollah badly pummeled from last year's war, and its Syrian ally Bashar al-Assad toppled in December 2024. It also indicated a revival of Saudi influence in a country where Riyadh's role was eclipsed by Iran and Hezbollah long ago.

Israeli Foreign Minister Gideon Saar congratulated Lebanon, saying on X he hoped Aoun's election would contribute towards stability and good neighborly relations.

US ambassador Lisa Johnson, attending the session, told Reuters she was "very happy" with Aoun's election.

The presidency, reserved for a Maronite Christian in Lebanon's sectarian power-sharing system, has been vacant since Michel Aoun's term ended in October 2022, with deeply divided factions unable to agree on a candidate able to win enough votes in the 128-seat parliament.

Joseph Aoun fell short of the 86 votes needed in a first round vote, but crossed the threshold with 99 votes in a second round, after lawmakers from Hezbollah and its Shi'ite ally the Amal Movement backed him.

Hezbollah lawmaker Mohammed Raad said that by delaying their vote for Aoun, the group had "sent a message that we are the guardians of national consensus".

Momentum built behind Aoun on Wednesday as Hezbollah's long preferred candidate, Suleiman Frangieh, withdrew and declared support for the army commander, and as French and Saudi envoys shuttled around Beirut, urging his election in meetings with politicians, three Lebanese political sources said.

A source close to the Saudi royal court said French, Saudi, and US envoys had told Parliament Speaker Nabih Berri, a close Hezbollah ally that international financial assistance - including from Saudi Arabia - hinged on Aoun's election.

"There is a very clear message from the international community that they are ready to support Lebanon, but that needs a president, a government," Michel Mouawad, a Christian lawmaker opposed to Hezbollah who voted for Aoun, told Reuters.

"We did get a message from Saudi of support," he added.

The Saudi king and crown prince congratulated Aoun.

 

Saudi oil exports rise to 6.33 bpd

Saudi Arabia's crude oil exports witnessed a significant increase in December 2024, reaching about 6.33 million barrels per day (bpd), recording their highest level in nine months, reports Bloomberg.

The rise came after the OPEC Plus alliance agreed to postpone the start of easing planned production cuts until April, and slow the addition of supplies to the market.

According to tanker-tracking data compiled by Bloomberg, November 2024 export estimates were revised to 6.16 million bpd, compared with an initial estimate of 6.17 million bpd.

As against this, preliminary data from Kepler showed that Saudi oil exports in November 2024 were 6.06 million bpd, while Vortexa estimated flows at about 6.05 million bpd.

As per the agreement reached by energy ministers of OPEC Plus, current production targets have been extended until the end of 2026, with a slight increase gradually implemented starting in April for the UAE.

The first round of additional voluntary cuts has also been extended until the end of 2026. A plan to phase out a second set of voluntary cuts of about 2.2 million bpd has also been delayed three times so far, and is now set to start in April at a slower pace than previously agreed, with production restored over 18 months instead of the 12 months planned previously.

Syrian people must be aware of dangers

Ammar Hakim, leader of the Iraqi National Wisdom Movement, Saudi spoke on Friday at the ceremony marking the anniversary of the martyrdom of Ayatollah Sayyed Mohammad Baqir al-Hakim and the "Iraqi Martyr's Day" held at the martyr's shrine in Najaf Ashraf. He called on the Syrian people to be aware of the dangers.

He stressed the significance of fostering positive relations between Iran and Saudi Arabia, asserting that their cooperation strengthens and dignifies the region.

He emphasized that cooperation between these two Muslim countries strengthens the region and should not be overlooked despite challenges. It is essential to support and foster constructive initiatives between them, aiming to establish long-term economic ties and shared interests through Iraq for the benefit of our nation and the wider Arab and Islamic world.

The current instability in the region, driven by repeated attacks from the Zionist regime on Lebanon and Gaza and threats to regional sovereignty, along with the complex situation in Syria, necessitates vigilance. Any shift in the balance of power will impact the challenges facing Iraq. As a central part of this region, we are at the heart of these complex challenges, the cleric emphasized.

Al-Hakim emphasized that Iraq's security and stability will not be compromised, and the nation will not return to a period of conflicts. He reiterated a zero-tolerance stance against anyone seeking to undermine Iraq's security and sovereignty. 

He cautioned against infiltrators and urged vigilance against those propagating misleading slogans that threaten Iraqi unity. The leader of the National Wisdom Movement stated that Iraq's foreign policy is based on non-interference and that its territory will not be used to threaten neighboring countries or the region.

"However, this does not imply that Iraq will remain passive regarding critical issues facing the Arab and Islamic world. Our nation will not tolerate oppression, and we will not stand by in the face of any aggression or humiliation," Hakim stated.

The leader of the Iraqi National Wisdom Movement emphasized the need to support the Syrian people and their country's independence. He stated that Iraq should welcome the Syrian people and urged them to recognize potential dangers while leveraging Iraq's political experience to build a strong, inclusive government.

Hakim emphasized the importance of ongoing support for Palestine, stating that the Palestinian issue will always be a priority for Iraqis. He affirmed the commitment to the Palestinian people's right to their land, which was taken by the Zionist occupying regime.

 

Syrian delegation arrives in Saudi Arabia

According to Saudi Gazette, a Syrian delegation, headed by the Minister of Foreign Affairs, Assad Al-Shaibani, arrived in Riyadh on Wednesday for its first official foreign visit. The visit comes in response to an invitation from Saudi Foreign Minister Prince Faisal bin Farhan.

Deputy Foreign Minister of Saudi Arabia, Eng. Waleed Al-Khuraiji, welcomed the Syrian delegation upon its arrival at King Khalid International Airport. The delegation included Minister of Defense Marhaf Abu Qasra and Intelligence Chief Anas Khattab.

Speaking on the occasion, Syrian Foreign Minister Assad Al-Shaibani emphasized that the new political administration in Syria is committed to building relationships that honor the shared history of the two nations.

“The political administration in Syria aspires to open a new and bright chapter in its relations with Saudi Arabia,” Al-Shaibani said.

On his official account on Platform X, he added: “I have just arrived in the Kingdom of Saudi Arabia, accompanied by Minister of Defense Marhaf Abu Qasra and General Intelligence Chief Anas Khattab.”

The visit coincided with the arrival of the first Saudi relief aid convoy to Damascus on Wednesday. The convoy carried food, shelter supplies, and medical aid for the Syrian people.

This diplomatic engagement follows recent remarks by Ahmed Al-Sharaa, head of the new Syrian administration, where he underscored Saudi Arabia’s pivotal role in Syria’s future.

“Saudi Arabia has a significant role to play in Syria’s future,” he said, describing recent Saudi statements regarding Syria as “very positive.”

The new Syrian administration recently appointed Al-Shaibani as Foreign Minister following the ousting of the Assad regime by opposition forces on December 08, 2024.

 

Syrian FM to first visit Saudi Arabia

According to Saudi Gazette, Asaad Hassan Al-Shaibani, the foreign minister of Syria’s new administration, emphasized his country’s aspiration to build strategic relations with Saudi Arabia across various sectors.

In a post on the social platform X on Monday, Al-Shaibani announced that he had received an official invitation from Saudi Foreign Minister to visit the Kingdom.

“I am honored to represent my country on my first official visit to Saudi Arabia,” Al-Shaibani wrote.

Ahmed Al-Sharaa, head of Syria’s military operations administration, previously highlighted Saudi Arabia’s significant role in Syria’s future. Al-Sharaa described recent Saudi statements regarding Syria as "very positive."

He also noted the Kingdom’s substantial investment opportunities in Syria, adding, “I am proud of everything Saudi Arabia has done for Syria, and it has a major role in the country’s future.”

A high-ranking Saudi delegation, led by a Royal Court advisor, recently visited Syria and met with Al-Sharaa at the Presidential Palace.

Saudi Arabia has expressed its satisfaction with the positive developments in Syria, reiterating its commitment to the safety and stability of the Syrian people.

The Kingdom also emphasized the importance of preserving Syria’s institutions and resources while safeguarding the unity of its people.

Saudi Arabia extends US$500 million for Yemen

Saudi Arabia has announced a US$500 million economic aid package to support Yemen, aimed at stabilizing the Yemeni economy, strengthening the Central Bank of Yemen, and fostering development and growth for the Yemeni people, reports Saudi Gazette.

A testament to Saudi Arabia’s long-term vision for fostering sustainable development and stability in Yemen

This initiative highlights Saudi Arabia’s commitment to addressing Yemen’s economic challenges and improving the quality of life for its citizens.

The package includes a US$300 million deposit to the Central Bank of Yemen, designed to enhance financial and monetary stability, and an additional US$200 million to address the country’s US$1.2 billion budget deficit.

The funds will be allocated through the Saudi Development and Reconstruction Program for Yemen (SDRPY) and will prioritize food security, salary support, operational expenses, and implementing economic reforms to build a stronger financial foundation for Yemen.

Saudi Arabia's efforts aim to stabilize the Yemeni economy and bolster public financial management, while fostering governance and transparency in government institutions.

The aid package is expected to empower Yemen’s private sector to drive sustainable economic growth, create job opportunities, and steer the national economy toward a more sustainable trajectory.

Previous Saudi assistance has yielded significant improvements in Yemen’s economic landscape. Deposits in the Central Bank of Yemen have bolstered foreign reserves, stabilized the local currency, and lowered exchange rate volatility.

This stability has reduced the prices of essential goods, including wheat, rice, milk, cooking oil, and sugar, while easing the costs of fuel and diesel. These measures have not only addressed immediate economic concerns but have also enhanced Yemen's food security and overall quality of life.

Saudi aid has also contributed to key sectors such as healthcare, by covering medication for chronic illnesses and cancer treatments, and education, among others.

Support for electricity generation has been another vital component, with Saudi Arabia supplying oil derivatives to 80 power plants across Yemen.

These initiatives have improved essential services and revitalized Yemen’s critical infrastructure.

Additionally, the Saudi Development and Reconstruction Program for Yemen has implemented 263 development projects and initiatives across Yemen, focusing on sectors including education, health, water, energy, transportation, agriculture, fisheries, and government capacity building.

 

Saudi Arabia blames veto power abuse

Ambassador Abdulaziz Al-Wasil, Saudi Arabia’s permanent representative to the United Nations, criticized the abuse of veto power and reiterated the Kingdom’s call for a ceasefire in Gaza while addressing the United Nations General Assembly’s (UNGA) 10th emergency special session on Palestine.

The session focused on two key resolutions: one supporting the mandate of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) and the other demanding a ceasefire in Gaza.

He also welcomed the ceasefire in Lebanon, condemning Israeli violations of the agreement, and emphasized the importance of UNRWA's role while denouncing Israeli actions against the agency, including targeted legislation and efforts to undermine its mandate.

The ambassador highlighted Saudi Arabia’s steadfast support for the Palestinian people, advocating for peace based on the two-state solution, the Arab Peace Initiative, and international legitimacy resolutions.

He called for active participation in the high-level international conference on resolving the Palestinian issue, which Saudi Arabia and France will co-chair in June in New York.

Al-Wasil also condemned Israeli attacks on Syrian territories, stressing that these violations undermine Syria’s stability and sovereignty.

He reaffirmed the Arab and Syrian identity of the occupied Golan Heights and condemned Israel’s continued disregard for international law.

During the session, the Saudi delegation voted in favor of both resolutions. The resolution supporting UNRWA’s mandate was adopted with 159 votes in favor, 9 against, and 11 abstentions. The resolution demanding a ceasefire in Gaza received 158 votes in favor, 9 against, and 13 abstentions.

The ambassador reaffirmed Saudi Arabia's commitment to promoting peace, condemning aggression, and supporting the Palestinian cause.

 

Shattering of Axis of Resistance

The recent collapse of Bashar al-Assad’s regime in Syria marks a significant and unexpected development for Iran, comparable in its surprise to the Taliban’s swift takeover of Kabul in 2021. Iran has been a steadfast ally of Assad, who thought the cost of resistance is less than the cost of compromise. Tehran provided Damascus with substantial military and financial support throughout the Syrian civil war. The sudden downfall of Assad’s government not only disrupts Iran’s strategic foothold in the Levant but also challenges its influence in the broader Middle East region.

The rapid fall of the Western-backed government in Kabul — with which Tehran had sought to engage diplomatically to maintain stability along Iran’s eastern border — similarly caught the Iranian leadership off guard. This event as well as Assad’s toppling both underscore the volatility of regional alliances and the complexities Iran faces in navigating its foreign policy objectives amid rapidly changing political landscapes.

While Iran had at least prepared for a scenario of the Taliban’s return and established some contacts and exchanges with the group even before the latter returned to power, the collapse of the Assad regime, described as a key link in the Axis of Resistance, came more suddenly.

Only a few days before the fall of Damascus to the Hayat Tahrir al-Sham (HTS), Iran started evacuating its key assets and personnel, including high-ranking military advisors and members of the Islamic Revolutionary Guard Corps (IRGC), to save critical resources.

It is vital for Iran at this point to secure a role in shaping the future of Syria’s political landscape to prevent an adversarial government and to be able to preserve some level of strategic influence in the region.

Although the common border with Afghanistan is perhaps the number one security concern for Iran to the east, Syria’s strategic value cannot be overstated when it comes to Iran’s western flank.

Syria was the heart of the resistance, which provided a direct link to Hezbollah in Lebanon and supported Iran’s deterrence against Israel. Thus, losing Syria not only disrupts the Axis of Resistance but also weakens Iran’s ability to project power in the region.

In the absence of Iranian proxies on the ground, the resulting power vacuum is likely to be filled by Turkey or Saudi Arabia, which in turn could force Iran to redirect its focus to defending its interests in other places.

At home, the legitimacy of the Iranian regime was severely damaged by its violent crackdowns on the Mahsa Amini protests in late 2022-early 2023. At the same time, Iran’s broad and substantial investments in Syria and elsewhere, which many Iranians saw as a costly miscalculation, intensified public criticism and political dissent over neglected economic issues.

Fears that their country could follow a path toward civil war, similar to those in Syria and Libya, deterred some from advocating for regime change at any cost. If Syria now descends into another civil war with further destruction, it could validate these concerns. However, if Syria manages to form an inclusive and stable government free of revenge, it could inspire Iranians.

In the aftermath of Assad’s collapse, Tehran will likely recalibrate its regional strategy, strengthening its militia networks, particularly Hezbollah and Shi’a militias in Syria and Iraq as the primary focus. These will need to serve as Tehran’s primary tool for projecting power in the absence of a friendly Syrian government.

Iran may also attempt to expand its regional alliances with Russia and China to sustain its ambitions. However, given the outcome of its previous reliance on Moscow to protect the Assad regime, Iran may need to recalculate the level of Russian support it can truly expect.

Rethinking its Syria policy may additionally encourage Tehran to shift from overt to covert approaches — a potentially challenging aim due to Iran’s over-stretched resources.

Assad’s downfall marks a significant setback for Iran’s regional strategy, disrupting the latter’s network of alliances and diminishing its influence in the Levant.

Courtesy: Middle East Institute

 

 

 

Shia-Sunni Conflict in Syria to Get Louder

The current situation in Syria presents three significant implications. First, the recruitment of fighters, motivated by financial incentives or sectarian affiliations, is expected to rise. Second, the majority of these recruits are likely to come from the South Asian region. Videos circulating on social media already show individuals with Pashto or Hazara accents celebrating the withdrawal of Bashar al-Assad’s forces from key cities, leaving behind military-grade weapons, ammunition, and vehicles. Third, existing foot soldiers in Afghanistan, Pakistan, and Iran may see new opportunities to leverage their combat experience, contributing to the rekindling of the Syrian conflict.

Shia militias, including the Zainabiyoun Brigade and other groups from Iraq, are also being drawn into the conflict. As a result, Syria is poised to become the site of escalating sectarian violence, with Sunni and Shia factions, supported by various regional and international actors, facing off.

What Impact Will This Have on the Gaza War?

How will these developments affect the ongoing conflict in Gaza? Will they weaken Hezbollah in Lebanon? And what strategic advantages might Israel and its regional or international allies gain?

Currently, Hamas is on the defensive, and the Syrian situation could demoralize its forces if Bashar al-Assad and his allies lose their grip on power, potentially drawing them into direct confrontation with rebel factions.

Iran and Russia are already evacuating some of their officials, but sectarian fighters loyal to the Assad regime will likely remain in Syria, continuing their resistance. Aerial support for Assad’s forces may still come from select countries, but unless a similar conflict arises in Iraq—where Sunni militias start pushing against Shia factions—a complete collapse of the Assad regime seems unlikely.

A Possible Escalation: Assad's Last Resort?

If Bashar al-Assad feels cornered and believes he must evacuate, he could resort to an extreme measure: launching a direct attack on Israel. What might such an assault look like?

First, a safe zone could be established for Iranian, Russian, or Syrian officials in the border region of Iraq, enabling them to continue strategizing and coordinating efforts in Syria and beyond.

Second, there would be a need for a large influx of Shia fighters into Syria and Lebanon to counteract new rebel offensives or Israeli airstrikes against Assad’s regime. These fighters could also act as conduits for weapons flowing into Lebanon, strengthening Hezbollah and other allies.

Coupled with aerial support, these forces could give Assad a better chance of reclaiming lost territories.

Wider Regional Implications: Yemen and Saudi Arabia

The sectarian tensions in Syria could also spill over into other parts of the region, particularly Yemen and Saudi Arabia, exacerbating existing conflicts there.

OPEC Plus extend production cuts

Saudi Arabia and seven other OPEC Plus countries have decided on Thursday to extend their oil production cuts for another three months, until the end of March 2025.

Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April 2023 and November 2023, held a virtual meeting on Thursday on the sideline of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM).

These countries will extend their additional voluntary adjustments of 2.2 million barrels per day, that were announced in November 2023, until the end of March 2025 and then the 2.2 million barrels per day adjustments will be gradually phased out on a monthly basis until the end of September 2026 to support market stability. This monthly increase can be paused or reversed subject to market conditions," OPEC Plus said in a statement carried by Saudi Press Agency.

The virtual meeting was held to reinforce the precautionary efforts of OPEC Plus countries, aiming to support the stability and balance of oil markets. These countries decided, in addition to the latest decisions from the 38th ONOMM, to extend the additional voluntary adjustments of 1.65 million barrels per day that were announced in April 2023, until the end of December 2026.

"In the spirit of transparency and collaboration, the meeting welcomed the pledges made by the overproducing countries to achieve full conformity and resubmit their updated compensation schedule to the OPEC Secretariat for the overproduced volumes since Jan 2024 before the end of December 2024 as agreed in the 52nd Meeting of the Joint Ministerial Monitoring Committee. The compensation period will be extended until the end of June 2026," the statement said.

  

MBS Announces Red Sea Sustainability Strategy

Saudi Crown Prince and Prime Minister Mohammed bin Salman unveiled on Wednesday the National Red Sea Sustainability Strategy. This initiative aims to protect the Red Sea, empower local communities, and transition to a blue economy, aligning with Saudi Vision 2030 and the recently announced national priorities for research, development, and innovation (RDI), particularly in the areas of sustainable environment and essential needs.

Speaking on the occasion, the Crown Prince emphasized Saudi Arabia’s efforts to unlock its vast economic, geographical and cultural potential while championing sustainability and environmental conservation.

He described the strategy as pivotal in establishing the blue economy as a core component of the Kingdom’s diversified economy.

“The Kingdom aspires for the Red Sea region to become a global reference for leading blue economy activities and reaffirms its commitment to a sustainable future for the Red Sea,” he said, calling for collective efforts to safeguard the Red Sea coast and the communities that rely on it.

The Red Sea, covering 186,000 square kilometers with a coastline stretching 1,800 kilometers, is one of the world’s most bio-diverse regions. It is home to the fourth-largest barrier reef system, 6.2% of global coral reefs, and hundreds of islands.

The strategy outlines a comprehensive framework to preserve and regenerate these natural treasures while ensuring their enjoyment and sustainability for future generations. It also demonstrates how protecting the environment can unlock the economic potential of the region and initiate the transition to a blue economy.

This transition will create investment opportunities in various marine sectors such as ecotourism, fisheries, renewable energy, water desalination, shipping, and industry.

A key component of the strategy is its ambitious vision for 2030. It aims to expand marine and coastal protected areas from 3% to 30%, increase the contribution of renewable energy to 50% of the energy mix, and create thousands of new jobs linked to blue economy activities.

Furthermore, it seeks to safeguard Saudi Arabia’s substantial investments in coastal tourism, which are expected to make significant contributions to the national GDP.

The strategy is built around five main objectives: Environmental Sustainability, Economic Development, Social Development, Safety and Security, and Governance and Collaboration. Within this framework, 48 targeted initiatives have been developed to support the Kingdom’s aspirations for the blue economy.

Saudi-French Investment Forum begins in Riyadh today

“Invest in Saudi Arabia" will host the Saudi-French Investment Forum in Riyadh on Tuesday. The forum, under the slogan "Saudi Vision 2030 - France's Plan 2030: Mutual Investment across Visions", is being held on the occasion of the state visit of French President Emmanuel Macron to Saudi Arabia, the Saudi Press Agency reports.

The forum will include dialogue sessions bringing together Saudi and French ministers; senior executives, and prominent business leaders from both countries. They will discuss partnership opportunities between the two countries, long-term cooperation, innovation, and mutual growth in vital sectors.

The speakers will also address topics of critical importance to the future of both countries, including leveraging digital transformation, advancing green energy initiatives, and enhancing cultural exchange.

The forum is an extension of the remarkable achievements made in investment relations between the Kingdom and France, as France is the largest source of foreign direct investment (FDI) flows to the Kingdom among the G20 countries. The FDI flows from France to Saudi Arabia amounted to more than SR11.2 billion in 2023.

The French companies obtained 503 investment licenses in the Kingdom and these included 117 licenses issued during the year 2024, of which 33 companies have regional headquarters in the Kingdom

GCC Summit begins in Kuwait today

The 45th Gulf Cooperation Council (GCC) Summit is scheduled to begin in Kuwait on Sunday (today). It aims at bringing together leaders and representatives from member states to discuss pressing regional and international issues to bolster sustainable development, regional security, and stability.

The summit will focus on a range of critical issues, including regional security, economic integration, and responses to mounting regional and international challenges.

Leaders are expected to deliberate on enhancing the GCC joint market, fostering technology cooperation, advancing infrastructural linkages, and addressing political files such as Palestine, Lebanon, Syria, Yemen, and Iraq.

Established in 1981, the GCC includes Saudi Arabia, Kuwait, the UAE, Bahrain, Qatar, and Oman, with an annual goal of strengthening cooperation across economic, political, and security domains.

Experts and officials have highlighted the significance of the summit, particularly during a period of heightened regional and international instability.

The GCC leaders are expected to reiterate their commitment to unity and collaboration, ensuring that the council continues to play a central role in addressing the region’s evolving challenges while fostering stability and prosperity for member states

China lauds progress in Iran-Saudi ties

The Chinese Foreign Ministry has expressed strong support for the constructive interactions between Saudi Arabia and Iran, emphasizing their role in fostering enduring good neighborly relations.

During a press briefing, Foreign Ministry Spokesperson Lin Jian noted that Saudi-Iran relations have been on a positive trajectory and China appreciates this progress. 

Lin Jian stated that Saudi Arabia and Iran have been engaging in positive interactions at various levels, further solidifying their reconciliation and playing a crucial role in fostering regional peace and stability. 

China remains committed to supporting both nations as they advance together, enhancing mutual trust, and achieving enduring good-neighborly relations and friendship, the spokesman said. 

The remarks come after several high-ranking visits between Iran and Saudi Arabia took place in the past month. 

Iran and Saudi Arabia restored diplomatic ties in March of 2023 under a China-brokered deal. The two West Asian countries have agreed to move towards establishing a security cooperation pact.

 

Saudi Arabia convenes Arab Islamic Summit

Saudi Arabia has announced to hold a joint Arab-Islamic follow-up summit in the Kingdom on November 11, 2024 to discuss the continued Israeli aggression on the Palestinian territories and Lebanon, in addition to the current developments in the region.

This is in line with the directives of Custodian of the Two Holy Mosques King Salman and in continuation of the efforts made by Crown Prince and Prime Minister Mohammed bin Salman (MBS) in coordination with leaders of other Arab and Islamic countries. The summit will be held as an extension of the joint Arab-Islamic summit held in Riyadh on November 11, 2023.

Saudi Arabia reaffirmed its condemnation and denunciation of the crimes and violations that are being perpetrated by the Israeli occupation authorities against the Palestinian people, apart from the continuing Israeli attacks and violations against the people of Lebanon.

This is in light of the Kingdom's follow-up of the current developments in the region, as well as the continued sinful Israeli aggression on the occupied Palestinian territories, and its expansion to include the Lebanese Republic in an attempt to undermine its sovereignty and territorial integrity, and the serious repercussions of this aggression on the security and stability of the region, the Saudi Press Agency said in a statement.

Saudi Arabia-Iran joint naval exercise

According to the Tehran Times, the head of the Iranian Army Navy has announced that Saudi Arabia has expressed interest in a joint naval exercise, a move aimed at strengthening regional cooperation.

Rear Admiral Shahram Irani highlighted the Iranian Navy's operations in the Red Sea, noting that Saudi Arabia has proposed a combined exercise in that region. Both nations have extended invitations to each other concerning their presence in the ports.

Irani added that both sides' initiatives include plans for a bilateral exercise and potential involvement from other nations. 

“Coordination efforts are currently in progress, and delegations from both countries will engage in necessary discussions regarding the execution of the exercise,” the commander emphasized.

This collaboration between Saudi Arabia and Iran could potentially pave the way for further dialogue and de-escalation of tensions in the region, benefiting both countries and the broader international community.

Military observers from both parties will be attentively assessing the results of this exercise and the possible effects it could have on the geopolitical dynamics of West Asia.

This proposed joint naval exercise in the Red Sea would mark the third instance of military cooperation between Iran and Saudi Arabia in the region.

In 2018, the two nations, alongside Oman and Pakistan, participated in a joint naval exercise in the Indian Ocean under the banner of the "Coalition of Friendship”.

This week, Iran concluded a joint naval drill in its southern waters, with Saudi Arabia among the participating nations.
 

 

Gaza War Dooms Biden’s Plan

According to David B. Ottaway, a year after the onset of the Israel-Hamas War, the Biden Administration’s plan for a new Middle East security architecture anchored in an alliance between the United States, Israel and Saudi Arabia is dead for the foreseeable future.

Its death is another victim of Israeli Prime Minister Benjamin Netanyahu’s refusal to allow an independent Palestinian state as a basis for a solution to the conflict that most countries, including the United States, are demanding.

Before the war started, US diplomats were making progress in nudging Saudi Crown Prince Mohammed bin Salman (MBS) toward establishing ties with the Jewish state. Both the crown prince and Biden were talking optimistically about Saudi recognition of, and open cooperation with, the Jewish state.

Two of Saudi Arabia’s closest allies, the United Arab Emirates and Bahrain had already taken that step in the 2020 Abraham Accords.

Biden was enticing MBS with a formal US-Saudi defense treaty to protect the kingdom from its chief enemy, Iran. The Palestinian cause was fading, in the minds of Arab leaders, and Israel was on the verge of fulfilling its dream of winning recognition from the Middle East’s Arab powerhouse. 

The Gaza War halted all this momentum in its tracks, and there is no ceasefire in sight. The Israeli military has occupied all of Gaza and, in the process, killed nearly 42,000 Palestinian civilians and Hamas fighters, displaced most of its 2.2 million Palestinian population from their homes, and inflicted massive damage on its infrastructure.

This has caused even Arab leaders with no love for Hamas because of its Islamic roots, refusal to recognize the Jewish state, and ties to Iran to harden calls for the establishment of a Palestinian state.

Nowhere is this shift in the attitude of Arab leaders better on display than in Saudi Arabia. In an interview with Fox News on September 20, just 17 days before the Hamas attack, MBS went out of his way to deny reports that US-led negotiations over Saudi normalization of relations with Israel were in trouble.

To the contrary, he said, “every day we get closer” toward what he called “the biggest historical deal since the end of the Cold War.” He made no demand for a Palestinian state as a precondition, just that Israel “ease the life of the Palestinians.”

On September 19, 2024 he delivered quite a starkly different message at the annual opening of his kingdom’s consultative Shoura Council.

The Palestinian cause was “at the forefront” of Saudi attention, and he was working tirelessly to see the establishment of a Palestinian state.

He warned, “We affirm that the kingdom will not establish diplomatic relations with Israel without that.” He thanked the 143 countries that had already recognized a Palestinian state and urged others to follow suit.

If Saudi Arabia hews to this precondition, then the new Middle East the Biden administration has worked tirelessly to birth seems doomed, at least without a radical change in Israeli thinking and government.

Saudi Arabia slams Israeli statements regarding Philadelphi Corridor

Saudi Arabia strongly condemned the recent Israeli statements with regard to the Philadelphi Corridor, a narrow band along Gaza’s border with Egypt.

The Ministry of Foreign Affairs expressed the Kingdom’s strong condemnation and denunciation of the Israeli statements regarding the Philadelphi Corridor, and the futile attempts to justify the continued Israeli violations of international laws and norms. In a statement carried by the Saudi Press Agency, the ministry vowed its solidarity and support for Egypt in the face of these Israeli allegations.

Saudi Arabia warned of the consequences of these provocative statements, and their repercussions in undermining the mediation efforts being undertaken by Egypt, Qatar, and the United States of America, to reach a permanent ceasefire.

The ministry stated that such provocative statements would increase the severity of the dangerous escalation witnessed by the region. It also emphasized the importance of putting an end to the suffering of the Palestinian people, and the necessity of concerted international efforts to enable them to exercise their inherent right to self-determination, and establish their independent state on the 1967 borders with East Jerusalem as its capital.

The ministry statement comes in the wake of the recent statement of Israeli Prime Minister Benjamin Netanyahu that the Philadelphi Corridor will be under the control of Israel in any ceasefire deal.