Free Trial

Normalisation Efforts w/Saudi Could Be Derailed By Hamas Attacks

ISRAEL

The large-scale attacks by Palestinian terrorist group Hamas on multiple locations in Israel over the weekend, and the Israeli Defence Force (IDF)'s retaliation to the attacks, could derail recent efforts by Israel and Saudi Arabia - encouraged by the US - to improve ties to the point that a normalisation deal could be signed. Comes as IDF spox Rear Adm. Daniel Hagari claimsthat Israeli troops have regained control of all towns on the Gaza border, but that "It is possible there are still terrorists in the area,"

  • The announcements from senior Iranian figures, including Supreme Leader Ayatollah Ali Khamenei, lauding the Hamas attacks and stating that they had the backing of Tehran encourages speculation that the incursions have come at the behest of Iran in an effort to derail Saudi-Israel normalisation efforts.
  • Hezbollah, the Iran-backed terrorist group based largely in Lebanon, stated on 7 Oct that the attacks were a “decisive response to Israel’s continued occupation and a message to those seeking normalization with Israel.”
  • Given the large-scale retaliatory measures from Israel, which has seen mass bombardments of Hamas-linked targets in the Gaza strip, the prospect of any normalisation could be off the table for the time being. Protections for Palestine has been one of the major sticking points for Riyadh, and despite Israel's strikes on Gaza being retaliatory rather the pre-emptory, it will be difficult for the Saudi leadership to countenance improving ties with Israel should the country remain in a state of war.

To read the full story

Close

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.