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1. This Time is Different. The "COVID-Shock" and Future of the Global Oil Market

Author:
Giuliano Garavini
Publication Date:
04-2020
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
Oil markets are facing a perfect storm. The scissors of supply and demand are moving against one another, generating increasing pain on the oil industry and the political and financial stability of oil-producing countries. Global oil demand is dropping due to the recession induced by the COVID-19 shut down of economic activity and transport in the most industrialized countries. Goldman Sachs predicts that global demand could drop from 100 million barrels per day (mdb) in 2019 to nearly 80 mdb in 2020.1 If confirmed, this would be single biggest demand shock since petroleum started its race to become the most important energy source in the world.
Topic:
International Trade and Finance, Oil, Global Markets, and Economy
Political Geography:
Russia, Saudi Arabia, and Global Focus

2. Structural Shifts and Regional Security: A View from Israel

Author:
Ehud Eiran
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Israel is still holding to its traditional security maxim. Based on a perception of a hostile region, Israel’s response includes early warning, deterrence and swift – including pre-emptive – military action, coupled with an alliance with a global power, the US. Israel is adjusting these maxims to a changing reality. Overlapping interests – and perhaps the prospect of an even more open conflict with Iran – led to limited relationships between Israel and some Gulf states. These, however, will be constrained until Israel makes progress on the Palestine issue. Israel aligned with Greece and Cyprus around energy and security, which may lead to conflict with Turkey. Russia’s deployment in Syria placed new constraints on Israeli freedom of action there. The US’s retrenchment from the Middle East is not having a direct effect on Israel, while the Trump administration’s support for Israel’s territorial designs in the West Bank may make it easier for Israel to permanently expand there, thus sowing the seeds for future instability in Israel/Palestine. The EU could try and balance against such developments, but, as seen from Israel, is too divided to have a significant impact. Paper produced in the framework of the FEPS-IAI project “Fostering a New Security Architecture in the Middle East”, April 2020.
Topic:
Security, Foreign Policy, Defense Policy, Gas, and Hezbollah
Political Geography:
Russia, Iran, Middle East, Israel, Greece, Palestine, Saudi Arabia, Cyprus, United States of America, and Mediterranean

3. The Impact of the Syrian Crisis on Lebanon. Local and Regional Rationales for Hezbollah's Involvement in Syria

Author:
Charles-Brian Biondi
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Since the beginning of the conflict, Syria has been the playground for several actors, such as Qatar, Saudi Arabia or Iran, defending their domestic interests or fighting for regional influence. The conflict entered a new phase in June 2013 with the direct involvement of Hezbollah, which sent troops to help al-Assad's regime fighting the armed insurrection. This event has had significant repercussions not only for the Syrian conflict itself but also for Lebanon. The aim of this paper is to shed light on the reasons that have led Hezbollah to engage openly in the Syrian conflict and what the consequences of such a decision could be, both for the country's and the party's future. The author argues that the party's involvement in the conflict is primarily a primordial necessity as the current Syrian regime is one of Hezbollah's strongest allies in the region without being a vital one. Thus the loss of the Syrian regime has the potential to pose new difficulties to the movement but would not necessarily imply its destruction.
Topic:
Conflict Resolution, Intelligence, and Sectarian violence
Political Geography:
Iran, Middle East, Arabia, Saudi Arabia, and Syria

4. The Awakened Arab World and its New Landscape

Author:
Augustus Richard Norton
Publication Date:
06-2013
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
The Arab awakening augurs the return of political contestation to key Arab societies in which little more than token opposition had been tolerated. Unfolding experiments in democratisation in which Islamically-oriented parties are leading players are underway but the prospects for the consolidation of stable political systems in key countries, such as Egypt or Syria are problematic. These developments have hastened a new regional balance of power in which Saudi Arabia and its allies have sought to stem the tide of change as well as thwart the hegemonial ambitions of Iran. Persistent issues, particularly the Israel-Palestine conflict, remain unresolved and have a powerful grip on the conscience of the Arab world. Key external powers, especially the United States, confront not only stubborn familiar issues but also a host of new strategic, economic, diplomatic and military challenges.
Topic:
Economics
Political Geography:
United States, Iran, Israel, Saudi Arabia, Syria, and Egypt

5. The GCC and the Arab Spring: A Tale of Double Standards

Author:
Silvia Colombo
Publication Date:
12-2012
Content Type:
Journal Article
Journal:
The International Spectator
Institution:
Istituto Affari Internazionali
Abstract:
Since 2011, the Gulf Cooperation Council (GCC) countries have been confronted with increasing challenges stemming from the Arab uprisings. Internally, they have had to face popular mobilisation and discontent, triggering a mixed reaction, including economic handouts, patronage, limited political and economic reforms as well as military intervention and repression. Externally, they have actively intervened in support of the protest movements in Syria and Libya and enthusiastically facilitated President Saleh's departure from Yemen. At first sight these responses may seem schizophrenic. Upon closer inspection, however, managing instability by shoring up friendly regimes on the inside and expanding the GCC's influence outside represent two sides of the same coin.
Political Geography:
Libya, Yemen, and Saudi Arabia

6. Betting on Perseverance Why the Double Track Approach is Still the Best Way to Deal with the Iranian Nuclear Conundrum

Author:
Riccardo Alcaro
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
The standoff over Iran's nuclear programme, suspected of harbouring secret military ends, is widely considered a major flashpoint. A nuclear Iran – as the argument goes – would dramatically alter the regional balance in the Gulf, providing the Islamic Republic with a formidable deterrent against external aggression, while augmenting its ability to exert influence on its neighbours and eliminating the strategic advantage of its rival Israel, the only nuclear-armed state in the Middle East. An Iranian bomb could also trigger a regional nuclear arms race since such countries as Turkey, Egypt, and Saudi Arabia, might feel compelled to emulate Iran. This would in turn result in the eventual collapse of the international nuclear non-proliferation regime based on the Nuclear Non-Proliferation Treaty (NPT). Given the stakes, it comes as no surprise that curbing Iran's nuclear programme has rapidly become a foreign policy priority for western powers, Israel, and the majority of Arab states, which have a history of rivalry with and mistrust of Persian and Shia-dominated Iran.
Topic:
Nuclear Weapons, United Nations, and Sanctions
Political Geography:
Iran, Turkey, Middle East, Israel, Saudi Arabia, and Egypt

7. Saudi-Italian Relations During the Reign of King Fahd

Author:
Roberto Aliboni
Publication Date:
11-2001
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
In the hundred years that have elapsed since the birth of Saudi Arabia many important developments and changes have affected both this country and Italy. Still, whereas Saudi Arabia has progressed with remarkable political stability, Italy has suffered numerous shocks: the crisis and fall, after World War I, of the nationalist elites which had made Italy an independent and united country in the 19th century; the fall of the Fascist regime and the Savoy monarchy at the end of World War II; the emergence, during the Cold War, of a Western democracy run by the classes which the nationalist elite had excluded from the process of independence; today, after the end of the Cold War, the fall of the Catholic and communist parties that dominated the Cold War domestic stage and the painful attempt to establish a less ideologically-based, more market-oriented and liberal-minded democracy in the country.
Topic:
International Relations, Foreign Policy, and Economics
Political Geography:
Europe, Arabia, Saudi Arabia, and Italy