Saudi Arabia
On 9 October, the Iranian authorities warned Gulf Cooperation Council (GCC) countries that they had closed their airspace, stating that any violation would be considered unacceptable and would be met with a firm response from Iran. The Iranian warning came in the wake of the 1 October attack, in which Tehran fired some 200 ballistic missiles at Israel in response to the assassinations of Ismail Haniyeh and Hassan Nasrallah. The message is clear, and the priority is one: regional unity against Israel and maintaining regional stability. It is clear that any form of Gulf support for Tel Aviv against Tehran, be it the use of airspace or military bases, would be considered a hostile act and would receive an appropriate response,' an Iranian government source told The Time of Israel. The Iranian warning follows a GCC meeting in Qatar on 2 October, where Israeli operations in Lebanon were reviewed. It coincided with the 19th Asian Cooperation Dialogue, an intergovernmental forum that brings together several Asian countries to coordinate various international organizations. The meetings were also attended by Iranian President Masoud Pezeshkian, who, on his return from the General Assembly, warned that any further Israeli action aimed at directly hitting Tehran would be met with a harsh response.
On 22 October, the Saudi Minister of Defence, Prince Khalid Bin Salman Bin Abdulaziz, visited Rome where he met his Italian counterpart, Guido Crosetto. In the presence of two large delegations, the ministers discussed the latest developments in the war in the Middle East and cooperation between their respective armed forces. The potential prospects for security and industrial cooperation between the two countries were highlighted, especially after the lifting of the ban on arms exports to Riyadh in June 2023. In this context, the Saudi Minister then met with the top management of the Italian defence industry, with whom he explored the possibilities of cooperation between the two countries. The Italian industry was represented by General Enzo Vecciarelli, adviser to the Ministry of Defence on industrial policy, Stefano Pontecorvo, president of Leonardo, Biagio Mazzotta, president of Fincantieri, and Enzo Benigni, president of the ELT Group.
Finally, it is reported that Saudi Arabia is preparing to abandon its informal target of USD 100 per barrel as a benchmark oil price. The move appears to signal Riyadh's resignation to a period of relatively low prices. According to the Financial Times, this would allow the kingdom to rebalance its recent oil policy and gain new market share that, when added to non-oil growth, could strengthen economic growth. The impact of the production cuts agreed by OPEC+ over the past two years has been mitigated by increased production from non-cartel members (US, Brazil, Canada).
Download the October 2024 report
From Iran’s assertiveness to tensions between actors in the Horn of Africa, via piracy and terrorism: the role of the strategic straits in the new instability of the Gulf-Red Sea quadrant.
What strategic foundations underpin the development of Saudi Arabia's new international projection? The point of view of Mohammed Alsulami, President of the International Institute for Iranian Studies (RASANAH) in Riyadh
Med-Or Foundation signed a Memorandum of Understanding in the fields of higher education and research with King Saud University in Riyadh.
| Head of state | Salman bin Abd al-Aziz Al Saud |
| Head of Government | Mohammad bin Salman Al Saud |
| Institutional Form | Unitary Islamic absolute monarchy |
| Capital | Riad |
| Legislative Power | Unicameral Consultive Council (150 members) |
| Judicial Power | The formally independent judicial system consists of three levels of justice, divided into Courts of First Instance, Courts of Appeal and the Supreme Court. The Appeals Commission deals with trials in which the government is involved |
| Ambassador to Italy | Prince Faisal Bin Sattam Bin Abdulaziz Al Saud |
| Total Area kmq | 2.149.690 km2 |
| Land | 2.149.690 km2 |
| Weather | Harsh and dry with large temperature extremes |
| Natural resources | Oil, natural gas, iron ore, gold, copper |
| Economic summary | Saudi Arabia has an oil-based economy with strong government controls on major economic activities. It has about 16% of the world’s proven oil reserves. Saudi Arabia in one of the most important exporters of oil in OPEC organization. |
| GDP | $834 billion (Dec. 2021) |
| Pro-capite GDP (Purchasing power parity) | $19018 (Dec. 2021) |
| Exports | $167 billion (2020) |
| Export partner | China 20%, India 10.1%, Japan 9.75%, South Korea 8.63%, UAE 5.51%, United States 5.36% (2020) |
| Imports | $143 billion (2020) |
| Import partner | China 22.1%, UAE 12.6%, United States 7.52%, India 4.44%, Germany 4.73%, Italy 2.62% (2020) |
| Trade With Italy | $ 9,52 billion (2021) |
| Population | 35.354.380 (2022) |
| Population Growth | +1,63% (2022 est.) |
| Ethnicities | Arabs 90%, Afro-Asians 10% |
| Languages | Arabic (official language), Tagalog, Rohingya, Urdu, Egyptian Arabic |
| Religions | Islam (official), Catholics 3%, Hindus 1%, others 2% |
| Urbanization | 84.7% (2022) |
| Literacy | 97,6% |
The state-building process of Saudi Arabia ended in 1932. Since then, the country has been a unified sovereign kingdom under the Saud dynasty. The Kingdom of Saudi Arabia is by far the largest state of the Arabian Peninsula. The country borders with Jordan, Iraq and Kuwait to the north, the United Arab Emirates, Qatar and the Persian Gulf to the east, Yemen and Oman to the south and the Red Sea to the west. The population is about 35 million and the official language is Arabic.
Under the leadership of the Saud family, the country has historically played a pivotal political, diplomatic, religious and cultural role within the Islamic and Arab world. This is also due to the presence in the country of some of the main Muslim holy places, such as the Holy Cities of Mecca and Medina. The Kingdom is visited by millions of pilgrims from all over the world each year, making religious tourism a major source of revenues for the Saudi Government.
After the discovery of the first oil fields in 1938 and the consequent boom of the hydrocarbon industry, the Kingdom quickly became one of the richest countries in the region. As a key oil producer and reliable partner for Western powers – mainly the United States – Saudi Arabia has strengthened its diplomatic and political status, positioning itself as an important mediator in the Near East. In recent years, the country has invested in economic diversification programmes, reviewing its diplomatic relations and international investments. A G20 member, Saudi Arabia is an important commercial and economic power and a relevant trade partner for Italy, both in terms of exports and of imports. Total annual trade between the two countries was $ 9,52 billion in 2021. In 2020, Saudi Arabia ranked 26th among Italy’s top import countries, while Italy ranked seventh among Saudi Arabia’s top export countries. Over the last few years, relations between Riyadh and Rome have progressively grown stronger. This has led to the signature of a Memorandum of Understanding for Bilateral Strategic Dialogue between Italy and Saudi Arabia in January 2021.
