February 24, 2016
Saudi Arabia is expected to reaffirm its policy of supplying Egypt with petroleum products as a contribution to help alleviate the country’s energy shortages. This subject will feature high on the agenda in the upcoming meeting between Egyptian President AbdelFattah al-Sissi King Salman of Saudi Arabia.
The past few months have seen noticeable foreign policy disparities between Egypt and its Gulf allies, Saudi Arabia in particular. Are these of a nature that could affect the Egyptian energy sector, or even stability in Cairo?
Following the overthrow of former President Mohammad Morsi and the accession to power of AbdelFattah al-Sissi, Gulf monarchies (KSA, UAE & Kuwait) poured tens of billions of dollars in grants, soft loans and supplies of petroleum products, in a bid to help stabilize the regime. But, there is an increasing sense of exasperation from the part of Gulf partners: On one hand, Egypt’s economic and financial situation is not progressing at a satisfactory pace. On the other, Gulf partners, Saudis in particular, no longer hide their frustration over increasingly perceptible divergence on various foreign policy issues:
Muslim Brotherhood: Until recently, both Cairo and Riyadh viewed revolutionary Islamic groups like the Muslim Brotherhood as an existential threat. But, since the accession to power of King Salman in Saudi Arabia, and the rise of Iran as the major source of threat for the Kingdom, priorities are changing. While the MB are still perceived as the biggest threat in Cairo, Iran’s growing influence, in the region and beyond, has become the focus of all attention in Riyadh, which has learned to develop a necessary pragmatism towards the MB. On this point in particular, Egypt and the UAE still see eye to eye.