The Third Gulf War, a Major Geoeconomic Turning Point

The Gulf Monarchies find themselves in the front line of a war they have made every effort to avoid. As a result, they may be obliged to reconsider their security model. The Middle-East is directly involved, with Israel and Lebanon, the latter being once again plunged into war following Hezbollah’s missile strikes meant to avenge the assassination of Iranian Supreme Guide Ali Khamenei. This third Gulf war is different from its two predecessors. The first took place between 1980 and 1988, pitting Saddam Hussein’s Iraq against the Ayatollah Rouhollah Khomeiny’s Iran. The second began after Iraq’s invasion of Kuwait on…