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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.
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Free AccessReestablishment Of Iran-Saudi Relations Prompts Cautious Optimism
News today that Saudi Arabia and Iran have agreed to restore diplomatic relations has prompted cautious optimism for stability in the region but China's role in brokering the deal may lead to concern in Washington that Saudi Arabia is drifting further from US orbit.
- Saudi state media confirmed the deal came about after talks between Saudi Arabia and Iran, hosted by China 6 -10 March, on the initiative of President Xi Jinping.
- The news was foreshadowed by a number of a high-profile visits, including a symbolic trip by Chinese President Xi Jinping to Saudi in December and a Beijing visit from Iranian President Ebrahim Raisi, last month.
- The fanfare surrounding Xi's Saudi trip was contrasted with a muted visit from President Joe Biden in August during which he failed to convince de facto Saudi Leader Crown Prince Mohammad bin Salman to increase oil production.
- The success of the Chinese brokered agreement points to a marginalisation of US influence in Riyadh but suggests at an alternate pathway to resolving the standoff over Iran's nuclear programme to which China has a stake and has made recent reference.
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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.