Media: Economic pressure from Iran conflict prompts Gulf states to review investments

Washington (ANTARA) – Gulf Arab states are reviewing foreign investment as the ongoing Middle East conflict weighs on their economies, CNN reported on Friday (6 March), citing a Gulf official. Several countries have begun internal assessments to determine whether a force majeure clause can be invoked on foreign contracts, the source said, without naming which nations are considering the steps. The economic pressure is driven by a fall in energy revenue as production slows and exports are disrupted, along with a drop in tourism and air travel, and rising defence spending, the report said. Last year, U.S. President Donald Trump secured investments of US$600 billion from Saudi Arabia, US$1.2 trillion from Qatar, and more than US$1.4 trillion from the United Arab Emirates, for a total of more than US$3 trillion (Rp50,819 trillion). On 28 February, the United States and Israel carried out strikes against targets in Iran, including Tehran, causing damage and civilian casualties. Iran retaliated with attacks on Israeli territory, as well as on U.S. military bases across the Middle East; shipments through the Strait of Hormuz were nearly halted after the hostilities. Source: Sputnik/RIA Novosti-OANA.