WASHINGTON — Saudi Finance Minister Mohammed Al-Jadaan said Gulf countries will not allow the Iran war to derail long-term reform plans and infrastructure investments.
Speaking on the sidelines of the Spring Meetings of the International Monetary Fund and World Bank in Washington, Al-Jadaan said Saudi Arabia, the UAE, and Qatar are continuing to sign investment agreements despite regional tensions.
He stressed that Saudi Arabia has not been significantly affected by the conflict, noting that air raid sirens were activated only twice and that daily life continued as normal across the Kingdom.
Al-Jadaan highlighted the resilience of the Saudi economy and the long-term value of its strategic investments, citing the East-West oil pipeline as a key example.
He noted that the pipeline, built decades ago, has proven its importance by helping offset supply disruptions caused by the closure of the Strait of Hormuz, with a capacity to transport around 5 million barrels per day.
“Anyone who expects a quick recovery from the Iran war — even if military operations stop — should reconsider,” Al-Jadaan said, warning that economic recovery may take longer than anticipated.
He added that any future agreement must be acceptable to all parties, calling on countries to prepare their populations and economies for a prolonged recovery period.
Source: Saudi Gazette