5 Top Points
- Bahrain and Italy launched a sea-air freight partnership during the first Italian prime ministerial visit to the Gulf country.
- Kuwait prepares for a major merger of state oil companies.
- Oman mediated release of a ship crew held by the Houthis in Yemen for over a year.
- Qatar plans new laws targeting $100 billion in foreign investments by 2030.
- Saudi Arabia allowed foreign investment in Saudi-listed companies owning real estate in Mecca and Medina.
‘Round and About the Gulf
Kingdom of Bahrain
Monday, 27 January—Bahrain announced that it had granted Italy partnership status for sea-air freight services to boost bilateral economic and trade relations. This announcement came during the visit of Italy’s Prime Minister, Giorgia Meloni, marking the first visit by an Italian Prime Minister to Bahrain.
State of Kuwait
Monday, 27 January—Kuwait is reportedly preparing to advance plans to merge some of its state-owned hydrocarbon companies, a move to be overseen by the Kuwait Petroleum Corporation. The companies involved are expected to include Kuwait National Petroleum Company (KNPC), Kuwait Integrated Petrochemical Industries Company (KIPIC), Kuwait Oil Company, and Kuwait Gulf Oil Company.
Sultanate of Oman
Wednesday, 22 January—Oman successfully mediated the release of the 25-member crew of the Galaxy Leader ship, comprising nationals from the Philippines, Bulgaria, Mexico, Ukraine, and Romania, after they were detained by Ansar Allah (Houthis) in Yemen for over a year. The crew members were transported from Sanaa to Muscat.
State of Qatar
Thursday, 23 January—Qatar plans to introduce new legislation, including laws on bankruptcy, public-private partnerships, and commercial registration, aiming to attract foreign investments, according to the Qatari Minister of Commerce and Economy, Faisal bin Thani Al-Thani. This effort is part of Qatar’s plan to secure $100 billion in foreign direct investment by 2030.
Kingdom of Saudi Arabia
Monday, 27 January—Saudi Arabia announced that foreigners are now permitted to invest in Saudi-listed companies owning real estate in Mecca and Medina, the two holiest cities in Islam, as part of efforts to boost the local economy. Under the new regulations, foreign investment will be limited to shares in Saudi companies listed on the Saudi capital market, convertible debt instruments, or a combination of both. However, non-Saudi ownership will be capped at 49%.
United Arab Emirates
Friday, 24 January—The UAE resumed diplomatic activities at its embassy in Beirut to advance bilateral cooperation. This comes after a diplomatic crisis that began in October 2021, when Bahrain, Kuwait, Saudi Arabia, and the UAE severed relations with Lebanon.
EU Corner
Monday, 27 January—The Council of the EU renewed sanctions against Russia for six months, until 31 July 2025. The EU also agreed on a roadmap for easing some sanctions on Syria and supporting the ceasefire in Gaza with redeploying the EU civilian mission to Rafah to supervise border checks. Additionally, EU Foreign Ministers discussed Iran’s threats to international peace, emphasising the need to end Tehran’s detention of foreign nationals for political leverage. The EU plans a deeper discussion on EU-Iran relations in the near future.
Key Official Visits & Contacts
Tuesday, 21 January—UAE President, Mohamed bin Zayed Al-Nahyan, received Afghan Taliban’s Minister of Interior, Sirajuddin Haqqani, to discuss bilateral relations.
Tuesday, 21 January—UAE President, Mohamed bin Zayed Al-Nahyan, discussed bilateral relations, strategic cooperation and Middle East developments with Dutch Prime Minister, Dick Schoof, in a telephone call.
Tuesday, 21 January—French Minister of Justice, Gérald Darmanin, met with UAE Minister of Justice, Abdullah Sultan bin Awad Al-Nuaimi, in Abu Dhabi to discuss cooperation in the fight against organised crime and illicit financing.
Wednesday, 22 January—Ukraine’s President, Volodymyr Zelenskyy, met with Qatar’s Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, at the World Economic Forum 2025 in Davos, Switzerland. Zelenskyy thanked Al-Thani for mediating the return of 53 children forcibly taken by Russia from Ukraine and for supporting Ukraine’s sovereignty and territorial integrity. They also discussed humanitarian cooperation and food security.
Wednesday, 22 January—Saudi Arabia’s Crown Prince and Prime Minister, Mohammed bin Salman Al-Saud, held a phone call with US President, Donald Trump, to discuss boosting security and economic cooperation. Saudi Arabia also announced plans to invest $600 billion in the US over the next four years. Separately, Mohammed bin Salman spoke with US Secretary of State, Marco Rubio, about shared interests in Syria, Lebanon, Gaza, and other areas, and countering threats posed by Iran and its proxies.
Wednesday, 22 January—On the sidelines of the World Economic Forum annual meeting in Davos, Saudi Arabia’s Foreign Minister, Faisal bin Farhan Al-Saud, held separate talks with Spanish Foreign Minister, Jose Manuel Albares Bueno, French Foreign Minister, Jean-Noël Barrot, and Portuguese Foreign Minister, Paulo Rangel, as well as Prime Minister of the Libyan Government of National Unity, Abdel Hamid Dabaiba.
Thursday, 23 January—Saudi Arabia’s Foreign Minister, Faisal bin Farhan Al-Saud, visited Lebanon in the first visit by a Saudi Foreign Minister in 15 years. It came a day before Kuwait’s Foreign Minister, Abdullah Ali Al-Yahya, and Gulf Cooperation Council Secretary-General, Jassim Al-Budaiwi, as Lebanon and the GCC countries explore ways to expand cooperation.
Thursday, 23 January—Bulgaria’s Foreign Minister, Georg Georgiev, visited Oman, where he met with Foreign Minister, Badr Albusaidi, to discuss bilateral relations and its humanitarian and diplomatic role, including the release of Bulgarian crew members of the Galaxy Leader ship held by Ansar Allah (the Houthis) in Yemen.
Friday, 24 January—Bahrain’s King, Hamad bin Isa Al-Khalifa, arrived in Paris, where he met with French President, Emmanuel Macron, to discuss enhancing cooperation in energy transition, telecommunications, urban infrastructure, and transport. The two leaders discussed the possibility of organising a conference to support reconstruction efforts and assist the newly formed Lebanese authorities. King Hamad also met with Bernard Arnault, CEO of LVMH, and a delegation of businessmen.
Friday, 24 January—Iran’s Vice President and Head of the Department of Environment, Shina Ansari, visited Abu Dhabi and met with UAE President, Mohamed bin Zayed Al-Nahyan, and UAE Deputy Prime Minister, Mansour bin Zayed Al-Nahyan, to discuss cooperation in economic, trade, and developmental fields, as well as other areas that promote sustainable development and economic growth.
Friday, 24 January—Saudi Arabia’s Foreign Minister, Faisal bin Farhan Al-Saud, arrived in Damascus for talks with the Syrian leader, Ahmed Al-Sharaa, reaffirming Saudi support for Syria’s sovereignty, independence and territorial integrity.
Friday, 24 January—UAE Deputy Prime Minister and Minister of Foreign Affairs, Abdullah bin Zayed Al-Nahyan, discussed bilateral relations and ways to strengthen cooperation with Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, during a telephone call.
Sunday, 26 January—Italy’s Prime Minister, Giorgia Meloni, visited Saudi Arabia and Bahrain. In AlUla, Saudi Arabia, she met Crown Prince and Prime Minister, Mohammed bin Salman Al-Saud, signing an agreement to establish the Saudi-Italian Strategic Partnership Council. The two countries also inked several agreements worth an estimated $10 billion, notably in the fields of energy, defence, and technology. In Bahrain, Meloni met King Hamad bin Isa Al-Khalifa and Crown Prince Salman bin Hamad Al-Khalifa to discuss bilateral ties, regional issues, inter-religious dialogue, migration, and mutual investments.
Monday, 27 January—UAE President, Mohamed bin Zayed Al-Nahyan, received Prime Minister of Georgia, Irakli Kobakhidze, and discussed ways to enhance cooperation, namely in investment, trade, economy, agriculture, renewable energy, environment, and sustainability. On the occasion, the Emaar Properties signed a Memorandum of Understanding with Georgia to invest $6 billion in Georgia, the largest investment in the Black Sea country’s history.
Monday, 27 January—Saudi Energy Minister, Abdulaziz bin Salman Al-Saud, met with his counterparts from Iraq, Libya and the UAE in Riyadh to discuss efforts to stabilise global energy markets. It came following US President Donald Trump’s call for lower oil prices and ahead of the OPEC+ Joint Ministerial Monitoring Committee meeting scheduled for 3 February.