A Gulf-Lebanon detente
A Gulf-Lebanon detente: French President Emmanuel Macron and Saudi Arabia’s Crown Prince Mohammed Bin Salman announced a joint initiative to address Lebanon’s economic crisis, effectively ending the diplomatic row between Lebanon and the kingdom. The initiative includes bringing back the oil-rich nation and its neighbors’ — the UAE, Kuwait, and Bahrain — support after it was cut off when Lebanese information minister George Kurdahi’s criticism of the Saudi-led war in Yemen severed diplomatic ties between the countries. The former minister resigned from his position on Friday after France probed him in a bid to open the way for the initiative. Bloomberg and Reuters have more on the story.
Also worth knowing this morning:
- Talks between Iran and world powers to restore the 2015 nuclear accord are on the brink of collapse. (Reuters)
- France + UAE agree huge arms sale: The UAE has agreed to buy 80 Rafale fighter jets and 12 helicopters from French defense firm Dassault in a EUR 17 bn arms contract signed during President Emmanuel Macron’s visit to Dubai at the weekend. (Reuters)
- DP isn’t going to Haifa: Emirati port operator DP World has exited its bid to purchase a stake in Haifa port, which is being privatized by the Israeli government. DP did not provide a reason for its U-turn. (Reuters)