Saudi Foreign Minister Faisal bin Farhan during a meeting with his Russian counterpart in Moscow on March 9, 2023. (Credit: Alexander Zemlianichenko/AFP)
Without stability, there can be no development or prosperity. This is, in essence, what the March 10 normalization agreement signed between Iran and Saudi Arabia in Beijing indicates. “The countries of the region share a common fate,” Saudi Foreign Minister Faisal bin Farhan tweeted after the announcement. At a time when the Islamic Republic sinks into a severe economic crisis while facing widespread popular protests since September, the deal’s announcement allowed the Iranian rial to increase in value against the US dollar just a few days before Nowruz, also known as Iranian New Year.On the other hand, Saudi Arabia — which just announced a surplus of nearly $28 billion in its 2022 budget — hopes to preserve its security, which it feels is particularly threatened by Iran’s ballistic and drone programs.Since Saudi Crown Prince Mohammad...
Without stability, there can be no development or prosperity. This is, in essence, what the March 10 normalization agreement signed between Iran and Saudi Arabia in Beijing indicates. “The countries of the region share a common fate,” Saudi Foreign Minister Faisal bin Farhan tweeted after the announcement. At a time when the Islamic Republic sinks into a severe economic crisis while facing widespread popular protests since September, the deal’s announcement allowed the Iranian rial to increase in value against the US dollar just a few days before Nowruz, also known as Iranian New Year.On the other hand, Saudi Arabia — which just announced a surplus of nearly $28 billion in its 2022 budget — hopes to preserve its security, which it feels is particularly threatened by Iran’s ballistic and drone programs.Since Saudi Crown Prince...
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