Saudi-Iran detente offers dubious economic benefits, say analysts

News Snapshot:

June 18, 2023 Saudi Investment Minister Khalid al-Fatih claims he is “optimistic” about the economic potential of the detente announced March 10 between Saudi Arabia and Iran, brokered by China. In an interview with CNBC earlier this week, the minister said he was “very hopeful” that Saudi Arabia’s normalization with Iran will go beyond the two countries and address the concerns the international community has expressed to Tehran. Fatih said that Saudi enterprises could also help the Iranian market "catch up" from the periods of closure and sanctions. He said “it’s to our advantage on all fronts” to see Iran...