MUST-READS

• Saudi Arabia hosts ‘informal’ Arab summit on post-war Gaza

  Saudi Arabia hosted an “informal” summit of Arab states in its capital Riyadh on 21 February to discuss regional efforts to propose an alternative to US President Donald Trump’s controversial expulsion and reconstruction plan for Gaza. It was hosted by Saudi Crown Prince Mohammed bin Salman (MbS) and attended by Jordanian King Abdullah II, Qatari Emir Tamim bin Hamad Al Thani, Egyptian President Abdel Fattah el-Sisi, UAE President Mohammed bin Zayed (MbZ), Kuwaiti Emir Mishal Al-Ahmad Al-Jaber Al-Sabah, and Bahrain’s Crown Prince Salman bin Hamad Al Khalifa. The summit began and ended on Friday, and no final statement was issued. A Saudi source told AFP that the “discussion was confidential.”

• King Salman approves Saudi riyal symbol

  King Salman on Thursday approved the official symbol for the Saudi riyal, marking the beginning of a new chapter in the Kingdom’s financial journey, as reported by the Saudi Press Agency. Saudi Central Bank Gov. Ayman Al-Sayari expressed his gratitude to the nation’s leadership for launching the symbol, which he believes “reinforces Saudi Arabia’s financial identity both locally and globally.” Al-Sayari further noted that this initiative underscores the growing international influence of the Saudi riyal, while also fostering a sense of national pride and cultural unity. He added that the newly designed symbol represents the Kingdom’s rich cultural heritage.

• Saudi Arabia unveils new Saudi riyal symbol, design derived from Arabic calligraphy

  Saudi Arabia on Thursday unveiled a symbol for the Saudi riyal approved by King Salman bin Abdulaziz, the Saudi Press Agency (SPA) reported, citing the Saudi Central Bank (SAMA). The reveal of the Saudi riyal symbol is a historic move that is set to reinforce the Saudi currency’s identity, according to the report. The Saudi riyal symbol “embodies the Kingdom’s rich cultural heritage, carrying the name of the national currency ‘Riyal’ in a design derived from Arabic calligraphy,” SPA said. The implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities, al-Sayari added. The initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members, SPA reported. The governor acknowledged all departments involved in the symbol's development project led by SAMA, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology and Quality Organization.

• Normalization and Displacement: Saudi Arabia and Trump’s Gaza Proposal

  For Saudi Arabia, Palestinian displacement significantly stymies the prospects of normalization. Thus, the two projects are not merely intersecting but fundamentally incompatible. This incompatibility represents one of the potential sources of disagreement with Trump in his second term, alongside his demands for lower oil prices, which conflict with Saudi Arabia’s interest in maintaining high oil prices to fund its domestic needs and Vision 2030 projects. The kingdom is beginning to realize that dealing with Trump in a second term will be more challenging than during his first. Nevertheless, the overall atmosphere between the two sides remains positive. Trump chose Saudi Arabia to host a February 18 US-Russian summit, and Saudi Arabia has avoided any negative remarks about Trump in the current crisis, focusing its criticism on Israel.

• Saudi crown prince invites leaders of GCC, Jordan, Egypt for informal meeting in Riyadh

  Saudi Crown Prince Mohammed bin Salman has invited the leaders of Gulf Cooperation Council countries, Jordan, and Egypt for a meeting in Riyadh on Friday, an official source stated on Thursday. The informal gathering follows similar meetings that have been held periodically for many years between the leaders of GCC countries, Jordan, and Egypt, enhancing cooperation and coordination. “Joint Arab action and any relevant decisions will be included in the agenda of the upcoming Extraordinary Arab Summit, which will be held in Egypt” on March 4, the source added.

• Why Is Saudi Arabia Seeking To Mediate A Deal Between U.S. And Iran?

  “Riyadh is looking for a way to address concerns around Iran's nuclear program, as well as its regional activities and its support for proxies,” says Gregory Brew, senior analyst at the U.S.-based Eurasia Group. “Given Riyadh's interest in avoiding an escalation in the Gulf, it probably sees diplomacy as a more effective means of addressing these issues, rather than military action,” he added. “Saudi Arabia's willingness to moderate between Tehran and Washington was not borne of a political vacuum,” said Behnam Taleblu, senior director of the Iran Program at the Washington-based Foundation for Defense of Democracies (FDD). “By stylistically accommodating Tehran through diplomatic normalization but substantively remaining in the Western orbit, Riyadh is hoping to insulate itself from being the place where a larger regional conflict involving Iran is adjudicated.”

• Prospect of Russia-US deal raises alarm in Iran’s pro-reform camp

  In Iran, pro-reform and moderate media are expressing deep concern about the Saudi-brokered talks between Russia and the US. Many fear that Iran could become a bargaining chip in a potential deal between Moscow and Washington, with Tehran’s interests sidelined in favor of broader geopolitical agreements.

• Russia’s Putin holds phone call with Saudi Arabia’s Crown Prince

  Russia’s President Vladimir Putin held a phone call with Saudi Crown Prince Mohammed bin Salman on Thursday, the Kremlin said. Putin said the two countries will continue to work within the OPEC+ framework to maintain stability in the global oil market. Putin also expressed his gratitude for organizing the Russia-US negotiations that took place in the Saudi capital Riyadh on Tuesday.

• Reconstruction and rivalries: What to expect from Saudi Arabia’s Gaza summit

  Saudi Arabia’s Crown Prince Mohammed bin Salman is expected to host leaders from Egypt, Jordan, Qatar, and the United Arab Emirates in Riyadh on Friday to discuss the Egyptian proposal. Just because Trump has warmed up to an Arab post-war plan for Gaza and is keen on Gulf cash does not mean the crown prince and his counterparts have it easy. The Egyptian plan, which has now been widely reported, calls, unsurprisingly, for Palestinians to stay in the Gaza Strip. They would live in mobile housing while debris is cleared away and reconstruction begins. The main sticking point is who will pay for reconstruction and temporary housing. Analysts and diplomats have speculated that Trump’s call for the US to take over the enclave without paying for it was a ploy to get oil-rich Gulf states to foot the bill. More than $50bn will be required to rebuild Gaza, a joint assessment provided by the United Nations, European Union and World Bank on Tuesday said. At least $20bn will be required in the first three years. Asked in an interview in January if Saudi Arabia would fund Gaza’s reconstruction, Prince Khalid bin Bandar bin Sultan Al Saud, Saudi Arabia’s ambassador to the UK, said: “To reconstruct a Palestinian state, yes. To reconstruct a territory that the Israelis might destroy again in a matter of years, I don’t think that would be a sensible thing to do.”

• Tiger Woods joins another White House meeting as PGA Tour moves closer to Saudi deal

  Tiger Woods joined PGA Tour Commissioner Jay Monahan and player director Adam Scott in a second White House meeting Thursday with President Donald Trump, another sign the sport is moving rapidly toward ending the division brought on by Saudi-funded LIV Golf. Yasir Al-Rumayyan, governor of the Public Investment Fund of Saudi Arabia and the financial muscle behind the rival league, also was part of the meeting. The tour said it would share more details when appropriate, adding: “We are committed to moving as quickly as possible.” “We share a passion for the game and the importance of reunification,” the statement said. “Most importantly, we all want the best players in the world playing together more often and are committed to doing all we can to deliver that outcome for our fans.”

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