Progress toward normalisation and stability in the oil-producing region has ground to a halt.
The violence in Israel and Gaza starkly contrasts with the Middle East peace and prosperity efforts championed by Saudi Arabia.
Hamas militants stormed into Israel from the Gaza Strip on October 7 and killed at least 1,400 people, mostly civilians who were shot or burnt to death on the first day of the raid, according to Israeli officials. More than 6,000 delegates are registered for the three-day event that will feature appearances by global banking chiefs and the presidents of South Korea, Kenya and Rwanda, organisers say.The shocking violence in Israel and Gaza stands in stark contrast to the vision of a more stable and prosperous Middle East championed by Saudi Arabia, which this year rebuilt ties with Iran and was in talks towards recognising Israel before the fighting broke out.
The war comes halfway through the Vision 2030 reform agenda championed by the kingdom’s de facto ruler, Crown Prince Mohammed bin Salman, which is intended to transition the world’s biggest crude oil exporter away from fossil fuels.
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