The current situation in the Middle East keeps worsening while the center of the “thunderstorm” is moving towards the Persian Gulf, which is rich in crude oil. There is a possibility of confrontation between the world’s 2 oil giants: Saudi Arabia, the world’s largest oil producer and exporter, and Iran, Saudi Arabia’s ideological and political opponent and the 2ndlargest producer of oil. If something like this happens, nobody will dare predict the future of the energy market and even the entire global economy.
What is the new pretext for the tensions in the Persian Gulf?
· This time it is about Bahrain, a small island kingdom.
· For 2 centuries Bahrain has been ruled by the Sunnite royal family Al-Halifa. The problem is that 75% of the population belongs to Shiites. In other words, the power belongs to the religious minority.
· Bahrain’s Shiites and Sunnites have been opposing each other for the last 30 years. The Shiites are supported by Iran while the Sunnites enjoy Saudi Arabia’s support (Saudi Arabia is the USA’s ally).
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