Saudi Finance Minister Mohammed Al-Jadaan stated that Gulf states will never allow the war in Iran to disrupt their long-term reform agendas or derail ongoing infrastructure investment plans, according to the Saudi Gazette.
During his participation at the Spring Meetings of the International Monetary Fund and the World Bank in Washington, Al-Jadaan said that Saudi Arabia, the United Arab Emirates, and Qatar are continuing to sign investment agreements, undeterred by regional tensions.
In the same context, he underscored that the Kingdom has not been materially impacted by the conflict, noting that air raid sirens were activated only twice, while daily life across the Kingdom has continued uninterrupted.
Resilience of Saudi Economy
Moreover, Al-Jadaan highlighted the resilience of the Saudi economy and the enduring value of its strategic investments, mentioning the East–West oil pipeline as a key example of long-term infrastructure.
Constructed decades ago, the pipeline has demonstrated its strategic importance by alleviating supply disruptions during times of instability in the Strait of Hormuz.
The minister noted that the pipeline boasts a capacity to transport roughly five million barrels of oil per day.
“Anyone who expects a quick recovery from the Iran war, even if military operations stop, should reconsider,” Al-Jadaan added.
In the light of this, he added that economic recovery may take longer than expected.
He further stated that any future agreement must be broadly acceptable to all parties involved. Therefore, he urged governments to prepare their populations and economies for what could be a prolonged recovery phase.
War in Iran
On February 28, the United States and Israel launched strikes on Iran, targeting its leadership and triggering a new conflict in the Middle East.
Iran has been responding with a retaliatory counterattack in Bahrain, Kuwait, Saudi Arabia and Abu Dhabi as a retaliatory move, while launching barrages of missiles and drones toward Israel.
The conflict has spread across the Middle East, leaving thousands dead, triggering unprecedented disruptions to energy supplies especially after the blockade of the Strait of Hormuz.
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