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Global Geo-political Series: Saudi-Iran war of words

Unexpected war of words broke out between the two arch rivals in the Middle East, Saudi Arabia and Iran who warned each other not only with military actions but outright annihilation. It all began last Tuesday with Saudi Arabia’s deputy crown prince Mohammad bin Salman who in a nationally televised interview ruled out any dialogue with Iran and pledged to protect the Kingdom against Iran, which according to the Prince aims to dominate the Muslim world.

When asked if there is a possibility to mend ties with Iran, the prince said: “How can I come to an understanding with someone, or a regime, that has an anchoring belief built on extremist ideology?” He also pledged to protect the Kingdom against any Iranian threats and said, “We will not wait until the fight is inside Saudi Arabia and we will work so that the battle is on their side, inside Iran, not in Saudi Arabia” Ties between Saudi Arabia and Iran have been strained since the 1979 Islamic Revolution, but the actual tensions began to mount rapidly over the past few years. The most significant happening took place in January last year when Riyadh executed Nimr al-Nimr, a prominent Shiite preacher. Massive demonstrations erupted in Tehran, with some protesters ransacking the Saudi embassy and setting it ablaze. The next day, Saudi Arabia cut diplomatic ties with Iran. Saudi Arabia and Iran are also fighting in opposition camps in civil wars in Syria and Yemen.

In response to the comments from the Saudi prince, Iranian defense minister Hossein Dehghan said speaking to Al-Manar channel “We warn them against doing anything ignorant, but if they do something ignorant, we will leave nowhere untouched apart from Mecca and Medina,”

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May 26 14:30 UTC Released

USECRI Weekly Annualized*

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5.1 %

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Previous

5.0 %

May 26 14:30 UTC Released

USECRI Weekly Index*

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144.1 %

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Previous

144.5 %

May 28 15:00 UTC 26522652m

SAM3 Money Supply YY*

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0.0 %

May 28 15:00 UTC 26522652m

SAPvt Sector Loans YY*

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Previous

-0.1 %

May 29 08:00 UTC 36723672m

EZLoans to Households*

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Previous

2.4 %

May 29 08:00 UTC 36723672m

EZLoans to Non-Fin

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Previous

2.3 %

May 29 08:00 UTC 36723672m

EZMoney-M3 Annual Grwth*

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5.2 %

Previous

5.3 %

May 29 23:30 UTC 46024602m

JPAll Household Spending MM*

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1.1 %

Previous

-2 %

May 29 23:30 UTC 46024602m

JPAll Household Spding YY*

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-0.7 %

Previous

-1.3 %

May 29 23:30 UTC 46024602m

JPJobs/Applicants Ratio

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1.46 %

Previous

1.45 %

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