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Gulf caught in Israel-Iran escalation fears

Nov 4, 2024, 6:40am EST
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Iranians in Tehran burn an Israeli flag during the 45th anniversary of the U.S. expulsion from Iran, on November 3, 2024.
Majid Asgaripour/Reuters
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On the eve of the US presidential elections, the threat of escalation between Israel and Iran is rising as Tehran hints at accelerating its nuclear program and is reportedly readying its response to Israel’s Oct. 26 strikes on the country. Those attacks brought to the forefront the delicate dance between the two enemies which encompasses the wars in Gaza and Lebanon, and affects strategic Gulf economic interests.

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Israel’s Prime Minister Benjamin Netanyahu said on Thursday the “supreme objective” of Israel’s security services was to “prevent Iran from attaining nuclear weapons.” The next day, the Pentagon announced the US was bolstering its presence in the region by sending bomber aircraft, fighter jets, and additional Navy warships.

Iran’s supreme leader Ayatollah Ali Khameini, meanwhile, threatened a “crushing response” to Israel’s Oct. 26 attacks that hammered Iran’s air defenses, while The Wall Street Journal said Iranian diplomats warned Arab counterparts that any strikes would employ more powerful warheads than previous ones. A Khamenei aide also said Friday that Tehran could proceed with nuclear weapon development if Western countries “do not respect our concerns, especially regarding Iran’s sovereignty and territorial integrity.” (Tehran’s options are limited, however: US and Israeli officials assess that last month’s attacks left Iran “badly exposed,” The Journal said.)

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At the Future Investment Initiative forum in Riyadh last week, Saudi Foreign Minister Prince Faisal bin Farhan emphasized the importance of de-escalation. In rare political remarks during the economic and financial conference, he said that Iran knew that prolonging a cycle of violence wasn’t in their interests, and urged all parties, including Israel, to ease tensions.

Riyadh — like other major capitals — has a huge stake in any calming: Rocket attacks on shipping vessels traversing the Red Sea have hampered global trade, and a recent calm along that route remains crucial to Saudi Arabia’s economic goals.

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