Citizens of the Gulf’s leading parliamentary monarchies have access to a pressure point that other Gulf citizens do not: If the ruling family-led executive is refusing reforms or taking unilateral political actions, they may withhold their participation in elections. Yet this past month dramatically demonstrated the limited power of the political boycott, and the considerable cost of leaving the formal political arena. In Kuwait and Bahrain, the leading opposition political figure and political society respectively have been banned from politics following the passage of new laws passed by the parliament: the very institution they are boycotting. Read more
Oman continues to push new frontiers in the development of its complex geological oil and gas reserves amid the downturn in energy prices. Oman’s oil and gas production reached record levels in 2015 and is set to edge marginally higher this year. To offset lower oil revenue and reduced government funding, the country’s state oil companies are tapping into international finance markets. Read more
Iraq is a key battleground for Iran and Saudi Arabia as they compete for dominance in the Gulf region. Iran has emerged from the past decade with an apparent upper hand in many areas, such as in the self-governed Kurdistan Regional Government territory of northern Iraq. It is said that “The Kurds have no friends but the mountains.” Yet Saudi Arabia would be the Kurds’ new friend, seeing real value in engaging with the KRG in order to curb Iranian influence in Iraq, and weaken the Shia power structure in Baghdad by empowering Erbil, the capital of the Kurdistan region. Read more
توصية مدير مكتب التحقيقات الفدرالي “الأف بي آي” جيمس كومي لوزارة العدل بعدم ملاحقة وزيرة الخارجية السابقة هيلاري كلينتون قضائيا بسب استخدامها بريدها الألكتروني الخاص وإرسال وتلقي معلومات سرية، وقبول وزيرة العدل لوريتا لينش للتوصية وإعلانها أن وزارتها لن تلاحق كلينتون أو أي من مساعديها قضائيا، وأن التحقيق قد انتهى، لا يعتبر التبرئة الكاملة التي كانت كلينتون تأمل بالحصول عليها، لان افلاتها من المحاكم القضائية يعني أنها ستواجه الآن محكمة الرأي العام والناخبين في نوفمبر المقبل
National Bank of Abu Dhabi PJSC announced plans to merge with rival First Gulf Bank PJSC, meanwhile Abu Dhabi ordered the merger of its sovereign wealth funds – IPIC and Mubadala. In Oman, in 2015 electricity subsidies actually increased, despite lower government revenue. See these and other updates to the Gulf Economic Barometer.
In the Media
AGSIW Senior Resident Scholar Karen E. Young spoke with Voice of America about Saudi Arabia’s Vision 2030. When asked about the challenges facing the plan, she noted, “It’s expensive. It requires spending money rather than saving.” She additionally commented on the social initiatives included in Vision 2030, saying, that the social goals are “what makes it expansive and wider in scope.”
AGSIW Non-Resident Fellow Fahad Nazer commented on last week’s suicide bombings in Saudi Arabia. Speaking with The Wall Street Journal, Nazer said “Three attacks in 24 hours suggests that there is a concerted campaign, a deliberate attempt to create a sense of instability and uncertainty in Saudi Arabia." In an interview with PRI, he mentioned that ISIL or ISIS “certainly have tried to foment sectarian discord in Saudi Arabia by targeting the Shia minority in the eastern province, and I think they have largely failed.” Speaking with the Los Angeles Times, Nazer said, “The sanctity of both Mecca and Medina is one that the overwhelming majority of Muslims believe in. There’s an understanding that an attack on these cities is the gravest sin.” In an interview with Bloomberg, Nazer noted that ISIL “has long made it apparent that it has no moral red lines."
Also addressing the attacks, AGSIW Non-Resident Fellow Sigurd Neubauer discussed how Saudi Arabia would likely respond, in an interview with Al Jazeera. He noted, “this is going to be a test for Saudi Arabia’s young and untested deputy crown prince, Mohammed bin Salman.”
