(Bloomberg) -- Shortly after Lebanon’s army chief Joseph Aoun was chosen this month as its next president, giant banners of him and Crown Prince Mohammed Bin Salman were unfurled on a building’s façade in the northern province of Akkar, hailing Saudi Arabia’s de facto ruler as the “leader of the Arabs.”
The oil-rich kingdom and its 39-year-old leader — who backed Aoun to get the presidency — are emerging as one of the biggest winners in the fallout of the 15-month conflict in Gaza, which has tilted the balance of power in the Middle East against its longtime rival Iran. As a fragile ceasefire deal came into effect on Sunday, Tehran’s influence has been crippled, for now: its proxies in Lebanon and the Palestinian territories decimated, its Syrian ally Bashar al-Assad deposed and its enemy Israel emboldened. Saudi Arabia is wasting no time filling the void.
"This is a clash between an ambitious young man who realizes the world is changing and an elderly cleric clinging to an outdated ideology that brought him to power," says Mustafa Fahs, a Beirut-based commentator who hails from a clerical family critical of the Islamic Republic, referring to the Saudi crown prince and Iran's supreme leader Ayatollah Ali Khamenei, respectively.
Who ultimately prevails in this duel of visions for the region is of great consequence, not only for the two powers involved but also the rest of the world, including global investors betting on the crown prince's plans to expand Saudi Arabia's economy and reduce its reliance on oil. MBS, as he’s also known, is aware his success at home depends on the kingdom's surroundings being at relative peace and on board with his drive to move the region away from wars and economic failures to development and prosperity, added Fahs. Iran’s current struggles present a great opportunity to accelerate that shift.
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The oil-rich kingdom and its 39-year-old leader — who backed Aoun to get the presidency — are emerging as one of the biggest winners in the fallout of the 15-month conflict in Gaza, which has tilted the balance of power in the Middle East against its longtime rival Iran. As a fragile ceasefire deal came into effect on Sunday, Tehran’s influence has been crippled, for now: its proxies in Lebanon and the Palestinian territories decimated, its Syrian ally Bashar al-Assad deposed and its enemy Israel emboldened. Saudi Arabia is wasting no time filling the void.
"This is a clash between an ambitious young man who realizes the world is changing and an elderly cleric clinging to an outdated ideology that brought him to power," says Mustafa Fahs, a Beirut-based commentator who hails from a clerical family critical of the Islamic Republic, referring to the Saudi crown prince and Iran's supreme leader Ayatollah Ali Khamenei, respectively.
Who ultimately prevails in this duel of visions for the region is of great consequence, not only for the two powers involved but also the rest of the world, including global investors betting on the crown prince's plans to expand Saudi Arabia's economy and reduce its reliance on oil. MBS, as he’s also known, is aware his success at home depends on the kingdom's surroundings being at relative peace and on board with his drive to move the region away from wars and economic failures to development and prosperity, added Fahs. Iran’s current struggles present a great opportunity to accelerate that shift.
More