Saudi Arabia has issued a stern warning about the economic repercussions of the ongoing Israel-Hamas conflict during the World Economic Forum (WEF) summit in Riyadh. The nation, the world's largest crude oil exporter, emphasized the urgent need for regional stability to mitigate the adverse effects on global economic sentiment.
At the summit, U.S. Secretary of State Antony Blinken, Palestinian leaders, and high-ranking officials from various countries gathered as mediators striving to broker a ceasefire between Israel and Hamas. Saudi Finance Minister Mohammed al-Jadaan highlighted the immense pressure the Gaza war, alongside conflicts in Ukraine and other regions, is placing on the global economy.
\"A lot of pressure is being exerted on the economic mood,\" al-Jadaan stated during one of the initial panel discussions. He stressed the importance of \"cool-headed countries and leaders\" to maintain stability in the region.
The Gaza conflict, which began on October 7 last year, has resulted in over 30,000 Palestinian deaths, with children and women making up the majority of the casualties, according to Gaza's Ministry of Health. Additionally, Israeli attacks have injured at least 75,000 people in Gaza.
Palestinian President Mahmoud Abbas appealed to the United States, stating it is the only country capable of preventing Israel's feared invasion of Rafah city in southern Gaza. \"We appeal to the United States of America to ask Israel to stop the Rafah operation,\" Abbas warned, highlighting the potential humanitarian disaster it would cause.
Saudi Planning Minister Faisal al-Ibrahim cautioned that the world is \"walking a tightrope right now, trying to balance security and prosperity,\" adding that any misjudgment could exacerbate current challenges.
Saudi Foreign Minister Prince Faisal bin Farhan emphasized the necessity of a \"credible, irreversible path to a Palestinian state\" to avoid recurring conflicts in the future. Meanwhile, WEF President Borge Brende noted emerging momentum in hostage talks and possible solutions to the Gaza impasse.
Hamas has indicated it is reviewing Israel's latest counter-proposal for a potential ceasefire, following reports of an Egyptian delegation's efforts to revive stalled negotiations.
Reference(s):
cgtn.com
