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MNI US Macro Weekly: Politics To The Fore
Mohammad Bin Salman Arrives In Turkey For Meeting With Erdogan
Saudi Crown Prince, and de facto ruler of Saudi Arabia, Mohammad Bin Salman (MBS) has arrived in Turkey for a meeting with Turkish President Recep Erdogan. It is MBS's first trip to Turkey since the killing of Saudi journalist Jamal Khashoggi in 2018 and the subsequent rupture of relations between Ankara and Riyadh.
- The trip look set to complete a normalisation of relations between Riyadh and Ankara and continues the restoration of Saudi diplomatic relations with other regional partners. MBS held a meeting with Egyptian President Abdel Fattah el-Sisi in Egypt this week.
- The trip is likely to have mutually beneficial results for both parties. Jasper Mortimer of France24 writes: "Saudi Crown Prince Mohammed bin Salman is hoping the visit can help rehabilitate his image beyond the Gulf. Erdogan is simultaneously seeking financial support to relieve Turkey's beleaguered economy ahead of tight elections a year from now."
- US President Joe Biden will meet MBS next month as part of a regional tour although the White House has been ambiguous about the nature of a meeting between Biden and MBS.
- Biden has responded to questions from reporters saying his meeting would merely be part of a Gulf Cooperation Council Summit, but White House officials have been more forward, confirming that the two leaders will partake in a bilateral meeting in Riyadh.
To read the full story
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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.