Commodities
Saudi Arabia Weighs Military Action as Iran Conflict Threatens Economic Ambitions
Riyadh has shifted its approach to the conflict between the US and Iran after attacks by Iranian-backed groups. Initially, Saudi Arabia sought to remain on the sidelines since fighting began on February 28th.
The Kingdom has now carried out joint strikes with the US against Iraq's Popular Mobilization Forces, which it believes was responsible for multiple drone attacks on its territory.
The conflict poses a challenge to Saudi Arabia's long-term economic plans under Crown Prince Mohammed bin Salman's Vision 2030 programme. This aims to reduce the Kingdom's reliance on oil revenues by expanding other sectors of the economy and attracting foreign investment.