Saudi Arabia launched covert attacks on Iran
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"We are right now producing more oil than Saudi Arabia and Russia combined," President Donald Trump said at an April 23 White House event to announce a ceasefire between Israel and Lebanon.
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The silence from Riyadh and Abu Dhabi was not necessarily neutrality. It may instead have been an attempt to fight a shadow war without openly triggering a much larger regional explosion.
Saudi Arabia brought forward some planned spending on infrastructure and food imports to soften the impact of the Iran war and the closure of the Strait of Hormuz, a move that added to its budget deficit in the first quarter.
Saudi Arabia is an absolute monarchy in the Middle East that occupies the majority of the Arabian Peninsula. As a nation with coastlines along both the Red Sea and the Persian Gulf, it serves as a central hub for global maritime trade and energy transit.