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Free AccessGCC Statement Warns Of 'Expanding Confrontations' Amid Israel-Hamas War
The Supreme Council of the Gulf Cooperation Council (GCC) has released a statement following the conclusion of its latest summit in Doha, Qatar. The statement was largely focused on the Israel-Hamas war, with GCC leaders, as would be anticipated, condemning Israel's bombardment of and incursion into Gaza. The statement also warns "...of the dangers of expanding confrontations and the spread of the conflict to other regions in the Middle East, unless the Israeli aggression stops, which will lead to dire consequences for the peoples of the region and for international peace and security."
- Turkish President Recep Tayyip Erdogan also participated in the GCC Summit as a guest, with the statement saying the GGC and Turkey discussed, "...ways to enhance cooperation between the two sides and addressed issues of common interest, particularly the Palestinian issue and the Israeli aggression on Gaza."
- The GCC Summit comes days ahead of Russian President Vladimir Putin's trip to Saudi and the UAE. As noted earlier, the continued internal GCC cooperation and seemingly closer links between Russia and Gulf states (despite apparent differences evident in OPEC+), are likely to ratchet up concerns in Washington, D.C., about the US being shut out of conversations on both regional geopolitics and the global oil market.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.