Economy and trade

Trucks loaded with goods wait to cross over to Syria

Analysis

How Hormuz crisis is reshaping economic ties between Iraq and Syria

Iraq and Syria are expanding trade and energy cooperation, but security risks, economic challenges and longstanding mistrust raise questions about whether their growing partnership can endure.

Shelly Kittleson

By Shelly Kittleson

In Baghdad, reporting on Iraqi politics

An attendee walks past signage displayed inside the venue for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 14, 2026. (Photo by ANTHONY WALLACE / AFP via Getty Images)

Syria to rejoin Arab group at IMF, leaving Russian-led constituency

Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD.

Russia's Ekaterina Alexandrova returns the ball to Kazakhstan's Elena Rybakina during their WTA Finals tennis tournament in Riyadh on November 5, 2025. (Photo by Fayez NURELDINE / AFP via Getty Images)

Explainer

From Six Kings Slam to FIFAe finals, Saudi Arabia's events derailed by war

Some of Saudi Arabia’s flagship events — across sectors including culture, entertainment and sports — have been canceled or postponed following deadly Houthi attacks over the weekend.

Flames burn at a facility belonging to Saudi oil giant Aramco south of Riyadh

Explainer

Aramco HQ attack exposes Saudi defense gaps, infrastructure vulnerabilities

The Iran-linked Yemeni militants struck at the heart of Saudi Arabia’s oil industry this week amid an expanding campaign against key infrastructure.

Latest News

Explainer

IMF projects Gulf rebound in 2027. Can energy production keep pace?

TOPSHOT - Smoke rises from the direction of an energy installation in the Gulf emirate of Fujairah on March 14, 2026. Smoke could be seen rising from the direction of a major UAE energy installation on March 14, in what appeared to be the latest strike targeting the Gulf's petroleum facilities hours after the US struck Iran's Kharg Island. (Photo by AFP via Getty Images) /

Jeddah airport flights disrupted as Houthis escalate threats

Men walk at a terminal at Saudi Arabia's King Abdulaziz International Airport in Jeddah on December 12, 2019. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Saudi Arabia outlines oil export plans amid escalating Houthi attacks

Guests attend the 25th WPC Energy Congress, Riyadh, Saudi Arabia, Oct. 12, 2026.

Iraq devalues dinar 13% as Hormuz disruption hits oil revenue

A man walks past a closed foreign exchange office in Baghdad on October 7, 2026. Iraq's central bank devalued the dinar currency against the dollar on October 7, with the country facing a deepening crisis brought on by the Middle East war. (Photo by AHMAD AL-RUBAYE / AFP via Getty Images)

Iraqi Prime Minister Ali al-Zaidi speaks during a meeting with US Secretary of Defense Pete Hegseth (not pictured) at the Pentagon on July 14, 2026 in Arlington, Virginia.

Zaidi to meet Erdogan as Turkey-Iraq ties take off, Kurds feel sidelined

The Iraqi prime minister's visits to Ankara and Riyadh underscore Baghdad's push to deepen regional ties as Turkey seeks closer cooperation on energy and security.

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Oil falls 9.5% in steepest drop in months as Iran, US pause attacks

Iran says it is still in control of the Strait of Hormuz and not seeking to resume peace talks with the United States after President Donald Trump halted a two-week bombing campaign.

Spectators look on as an A350-1000 by the European plane maker Airbus takes off on the second day of the Farnborough International Airshow 2026, Farnborough, July 21, 2026.

Explainer

Saudi airlines outbuy Gulf rivals at Farnborough air show: What to know

Saudi airlines emerged as the Middle East's biggest buyers at the international event, while the Gulf's three largest carriers browsed.

United Arab Emirates

Win McNamee/Getty Images

Explainer

How US bid prevailed over China, France, Russia in Saudi nuclear deal

The Trump administration has made American nuclear technology a major priority with an $80 billion investment in the sector, including nearly $18 billion in loans to Westinghouse Electric Company to develop its AP1000 reactor lines.

A pickup truck carrying a turret is pictured as fighters supporting the Aden-based and internationally recognized Yemeni government gather along the Red Sea shore in Khokha, in Yemen's western Hodeidah province on July 20, 2026.

Houthis warn shipping firms to avoid Saudi ports or face attack: What to know

The Houthi militia reportedly emailed multiple shipping companies on Tuesday, warning them of the consequences of visiting Saudi ports.

Amir Hossein KHORGOOEI / ISNA / AFP via Getty Images

Oil tops $90 as Iran warns Hormuz 'will not be safe'

Tensions escalated further after Iran's Islamic Revolutionary Guard Corps vowed on Monday that not a "single drop" of oil or gas would pass through the Strait of Hormuz.

Director of European Affairs and Customs at La Poste Groupe Christelle Defaye-Geneste (L) and Morocco's Minister of Industry and Trade Ryad Mezzour (R) sign agreements between La Poste Groupe and Barid Al-Maghrib, alongside France's Prime Minister Sebastien Lecornu (C-L) and his Moroccan counterpart, Aziz Akhannouch, during a meeting in Rabat on July 16, 2026.

Explainer

France-Morocco ties get an energy jolt as historic heatwaves pressure Europe

During Prime Minister Sebastien Lecornu's visit to Morocco on Thursday, the two countries spotlighted plans to explore an electricity interconnection that could one day deliver Moroccan renewable power to France.

A ship sails off the coast of Ajman on July 10, 2026.

Interview

Why Strait of Hormuz no longer rattles oil markets as much: IMF

The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock.

Jihad Azour

Jihad Azour

Director of the Middle East and Central Asia Department at the International Monetary Fund

A man holds a Syrian flag across the street from the White House after Syrian President Ahmed al-Sharaa met with President Donald Trump at White House in Washington, on Nov. 10, 2025.

Syria, US hold first business forum since sanctions relief: What to know

The one-day forum in Damascus was organized by Syria’s Ministry of Economy and Industry and the US-Syria Business Council, which was established in Washington last June to advance trade and investment between the two nations.

A man crosses a street while returning home from work, in Dubai on June 23, 2026. (Photo by FADEL SENNA / AFP via Getty Images)

Analysis

Saudi-UAE payment blocks could imperil billions in trade: What to know

Delayed bank transfers from Saudi Arabia to accounts in the United Arab Emirates could suggest the rivalry between the region's largest economies is entering a new financial phase.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Syrian President Ahmed al-Sharaa (L) welcomes France's President Emmanuel Macron for a joint press conference in Damascus on July 7, 2026.

Explainer

How Macron seeks to carve out France's role in new Syria

French President Emmanuel Macron became the first Western leader to visit Syria since the fall of the Assad regime, showcasing Paris' support for Syrian President Ahmed al-Sharaa while seeking to secure a share of the country's emerging reconstruction market.

Igor IVANKO / AFP via Getty Images

How Iran war could impact oil markets in 2027

The International Energy Agency forecasts global oil supply will exceed demand by 4.62 million barrels per day in 2027.