The reflowering of the Egyptian-Iranian relations blossomed in direct proportion to the souring of Egyptian-Saudi relations, particularly during 2016, writes Gregory Copley for Yahoo Finance. Egypt resisted attempts by Saudi Deputy Crown Prince Mohamed Bin Salman to commit militarily to the Saudi-led Coalition fighting in Yemen, a conflict which the Egyptian Government felt was ill-advised, he says. Hope for an improvement in Saudi-Egyptian relations vanished after the Tiran and Sanafir court ruling. Egypt and Iran also have a common position, for different reasons, at odds with Saudi Arabia on overthrowing the Syrian state.
More from Enterprise
CIB says it received the green light to start due diligence on HSBC Egypt’s retail franchise
CIB is not the only potential suitor for HSBC’s retail…
Retail investors now have direct access to five EFG Hermes mutual funds
The move is the latest step in EFG Hermes’ push…
Under-construction data centers tap ratings to fund AI buildup
Developers are securing investment-grade ratings to unlock new pools of…
Bahrain’s Beban eyes Egypt launch with equity crowdfunding model
Mohamed Aboulnaga’s Foras AI raises stake as Beban seeks FRA…