NEOM — PIF’s Board of Directors, chaired by Crown Prince Mohammed bin Salman, approved the fund’s 2026-2030 strategy on April 15, 2026, with a new designation for its most expensive project: “standalone
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KUWAIT — A Kuwaiti PAC-3 battery intercepted an Iranian Fateh-110 short-range ballistic missile over Ali Al Salem Air Base on Friday, but
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SINGAPORE — US Defense Secretary Pete Hegseth told a room of 54 defence ministers and 42 chiefs of defence staff on Friday
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WASHINGTON — On May 2, Secretary of State Marco Rubio signed an emergency determination under Section 36(b) of the Arms Export Control
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MUSCAT — Iran’s Foreign Ministry spokesman Esmaeil Baqaei told Tasnim News Agency that “the Strait had nothing to do with the US”
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RIYADH — Saudi Arabia has built direct channels to every Iranian official involved in the Iran-US MOU negotiations — the foreign minister,
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DHAHRAN — Brent crude closed at $91.37 per barrel on May 29, 2026 — its lowest settlement in six weeks, capping a
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LONDON — Iran’s Persian Gulf Strait Authority charges Chinese-linked vessels up to $2 million per transit to move Saudi crude through the
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RIYADH — Abd Rabbuh Mansur Hadi, the exiled former president of Yemen whose March 2015 letter to the Arab League and United
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JEDDAH — Saudi Arabia’s Ministry of Defence confirmed that its servicemen have died in the 2026 Iran war — not through a
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MINA — Crown Prince Mohammed bin Salman used the annual Eid al-Adha reception at Mina Palace on May 29 to publicly thank
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RIYADH — Saudi Arabia’s Ministry of Foreign Affairs issued a single statement on the US-Iran negotiations — a May 20 endorsement of
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LONDON — Chevron Chairman and CEO Mike Wirth told Bloomberg Surveillance on May 29 that ships were attacked in the Strait of
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KUWAIT CITY — Kuwait invoked its right to self-defense under Article 51 of the UN Charter on May 28, the first formal
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RIYADH — Brent crude fell to $91 a barrel on May 29 — its third consecutive daily decline, down nearly $24 from
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Table of Contents The Bottleneck Has Migrated to Washington What Does the MOU Actually Say About Hormuz — and Who Gets to
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TEHRAN — Iran’s Islamic Revolutionary Guard Corps fired warning shots at four vessels attempting to transit the Strait of Hormuz at approximately
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LONDON — The Strait of Hormuz is functionally closed to commercial shipping as of May 29, 2026 — not because any government
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LIMASSOL — Prince Faisal bin Farhan walked into the EU Gymnich foreign ministers’ meeting in Cyprus on May 27, ending more than
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WASHINGTON — Scott Bessent did not sanction Iran on May 28. He sanctioned the one diplomatic instrument Iran could not field alone
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KUWAIT CITY — Kuwait’s Ministry of Defence confirmed on May 28 that its air defense systems intercepted nine missiles — seven ballistic
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KUWAIT CITY — Iran’s Islamic Revolutionary Guard Corps fired a ballistic missile toward Kuwait at 04:50 a.m. local time on May 28,
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DHAHRAN — Saudi Arabia’s crude exports to its four largest Asian buyers are collapsing at a pace that pricing adjustments alone cannot
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MUSCAT — Oman’s refusal to co-sign IMO Circular Letter 5028, the five-state GCC condemnation of Iran’s Persian Gulf Strait Authority, is not
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KUWAIT CITY — The Islamic Revolutionary Guard Corps struck Camp Buehring in northern Kuwait early on May 28, targeting what it called
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RIYADH — KLM Royal Dutch Airlines extended its suspension of flights to Riyadh and Dammam through July 12, 2026, the airline confirmed
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