Sergey Lavrov, the Russian Foreign Minister, will first travel to Bahrain and then to Iran during his trip to the Middle East, aiming to reduce existing tensions in the region. This trip will take place during the ninth strategic dialogue between Russia and the Gulf Cooperation Council in Manama, where Lavrov will discuss issues and challenges in the region with his counterparts from member countries of the council.
Purpose of the Trip and Strategic Dialogues
Bahrain has been chosen as the first destination for the Russian Foreign Minister's trip, and it is expected that this visit will help create a favorable environment for regional diplomacy. After discussions in Bahrain, Lavrov will travel to Tehran and hold talks with Abbas Araghchi, the Iranian Foreign Minister. These discussions come in the wake of increasing tensions in the Persian Gulf and their implications for regional security and the global economy.
Read more: Sergey Lavrov, the Russian Foreign Minister, traveled to Bahrain
Economic Consequences of Regional Tensions
The rising tensions in the Persian Gulf, resulting from the actions of the United States and Israel against Iran, along with ongoing conflicts between the Ansar Allah movement in Yemen and Saudi Arabia, have led to a significant economic crisis. This situation has contributed to rising oil prices and disruptions in shipping through the Strait of Hormuz and the Bab-el-Mandeb Strait. According to estimates from the International Monetary Fund, the current crisis could lead to a contraction of 4.8% in the economies of Gulf Cooperation Council member countries this year.
Experts warn that if a widespread war occurs and both straits are completely closed, oil prices could exceed $200 per barrel. This situation could lead to a global food crisis and serious problems for countries dependent on food imports.
Postponement of the GCC and EU Summit
The ongoing crisis has also weakened the political relations of regional countries with the West. In this context, Brussels has postponed the EU and GCC summit that was scheduled to take place on October 24 in Riyadh until further notice. This decision was made following the recent attack by Ansar Allah on Riyadh airport, which left at least 17 dead and escalated tensions in the region.
The Gulf Cooperation Council consists of six countries: Bahrain, Qatar, Kuwait, the United Arab Emirates, Oman, and Saudi Arabia, and under these circumstances, Russia is seeking to play an active role in reducing tensions and also strengthening its position as a reliable supplier in the global energy market.
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