Gulf states accelerate economic diversification as Iran war recession looms

The US-Israeli attack on Iran in February has triggered a war that now threatens to drag Gulf economies into recession, prompting Saudi Arabia, UAE, and Qatar to accelerate diversification away from hydrocarbons. The piece claims the conflict has ended the region's prior immunity from Middle East instability, though the exact economic impact remains uncertain. This matters because Gulf fiscal and investment strategies are shifting under war risk, with potential spillover to global energy markets.

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