The GCC has called on the UN Security Council to intervene and hold Iran accountable for attacks on Arab countries, citing repercussions on regional security and energy supplies. This comes after a series of retaliatory strikes involving the US and Iran.
The Gulf Cooperation Council (GCC) stated that Iran's strikes on Arab territories damage trust and hinder diplomatic solutions to the Gulf conflict, urging Iran to choose dialogue over aggression.
The UK has signed a landmark trade agreement with the GCC, set to boost the British economy by over €4 billion annually. The deal eliminates 93% of GCC tariffs on UK goods, benefiting exports and services, and is hailed as a major win for growth and jobs.
Saudi Arabia conducted unpublicized airstrikes on Iran in late March, marking the first direct military action on Iranian soil in retaliation for attacks within the kingdom. This shift in approach followed Iranian strikes on Gulf Cooperation Council states, leading to an informal de-escalation understanding between Riyadh and Tehran.
UAE announces exit from OPEC, citing national interests and commitment to global market demand. One of world's largest oil producers and exporters, UAE joined the group in 1971 while Abu Dhabi joined in 1967. Analysts say the departure signals serious cohesion problems within the Gulf Cooperation Council.
