Saudi Arabia's finance minister, Mohammed Al-Jadaan, identified geopolitical risks as the top concern for the global economy during a speech at a special edition of the World Economic Forum in Riyadh on April 28, 2024. He urged policymakers to be agile in dealing with these risks.
Meanwhile, U.S. Secretary of State Antony Blinken is traveling to Saudi Arabia this week for meetings with Palestinian, Egyptian and Qatari leaders to discuss efforts for securing the release of hostages and a cease-fire in Gaza. The latest video released by Hamas shows U.S.-born Keith Siegel and Omri Miran, who were taken hostage on October 7.
In other developments related to the Middle East, Saudi Arabia's finance minister warned that geopolitical risks are the number one risk to the global economy. He made these remarks during a speech at a special edition of the World Economic Forum in Riyadh on April 28, 2024.
Blinken will also discuss ongoing efforts to achieve a cease-fire in Gaza that secures the release of hostages and how it is Hamas that is standing between the Palestinian people and a ceasefire. He will emphasize the importance of preventing the conflict from spreading and working towards lasting peace and security in the region, including through a pathway to an independent Palestinian state with security guarantees for Israel.
Blinken's trip comes as Egypt, Qatar, Israel, and Hamas have not managed to reach a cease-fire agreement. The release of hostages held by Hamas is a key demand in these negotiations. Blinken previously met with Saudi Arabian Crown Prince Mohammed bin Salman in March to discuss the need to increase the flow of humanitarian aid into Gaza.
The conflict between Israel and Hamas has resulted in more than 34,000 Palestinians being killed and hundreds of thousands displaced. U.S.-backed efforts to negotiate a cease-fire have failed, with Hamas reviewing a new Israeli proposal for a cease-fire as Egypt steps up efforts to broker a deal.
Blinken's visit also comes amid heightened political pressure in the U.S., with pro-Palestinian protests at universities and allegations of antisemitism. Israel's offensive in Gaza has been criticized by some for disproportionately targeting civilians, leading to calls for an independent investigation into possible war crimes.
Blinken will discuss the importance of keeping the conflict from spreading and working towards lasting peace and security in the region. He is expected to meet with Palestinian leaders during his visit, as well as Egyptian and Qatari leaders. The release of hostages held by Hamas is a key demand in these negotiations.
Blinken's trip to Saudi Arabia follows a meeting with Chinese President Xi Jinping in China earlier this month. He will attend the World Economic Forum conference during his visit, where he is expected to discuss ongoing efforts to achieve a cease-fire and the importance of increasing humanitarian aid to Gaza.
