Abu Dhabi CNN — Big Gulf Arab oil states are using the newfound Big Gulf Arab oil states are using the newfound riches they’ve reaped as a result of the Ukraine war to build economic bridges with their poorer neighbors, some of whom they once considered adversaries. “Money talks,” Michael Maduell, president of the Sovereign Wealth Fund Institute in Las Vegas, told CNN. One of the key regional investment destinations for both Abu Dhabi and Riyadh has been Egypt. Once a regional rival, Turkey is now an economic ally of Saudi Arabia and the UAE. Despite a political thaw, Gulf investments in Iran and Syria are unlikely for the time being, say analysts.
