Middle East Powers Unite Amid Growing Tensions
Saudi Arabia, Pakistan, and Turkey are set to sign a joint defense cooperation agreement amid growing turmoil in the Middle East. The agreement is expected to be signed on Friday, with Turkish President Recep Tayyip Erdogan arriving in Jeddah for an official visit.
The three countries have been concerned about the impact of the US-Israel war with Iran, which has created a volatile situation in the region. Saudi Arabia is the world's largest crude oil exporter, while Turkey has the biggest NATO army behind the US, and Pakistan is a nuclear-armed nation.
Pakistan has attempted to mediate between the US and Iran, negotiating passage of energy commodity cargoes through the Strait of Hormuz. The war in the Middle East has led to vessel traffic at key oil chokepoints declining, with only six crude oil tankers managing to clear the Strait of Hormuz outbound so far this week.