The future of the much-celebrated India-Middle East-Europe Economic Corridor (IMEC) is uncertain with fresh conflicts erupting between Israel and Hamas. Championed by India, the US and the European Commission as an alternative to China’s Belt and Road Initiative during the G20 Summit in New Delhi last month, the economic corridor is expected to be hit a hurdle along with the I2U2 grouping.
Adani Ports' acquisition of the Haifa Port was a fillip to India's efforts to ease trade with Europe through the proposed IMEC, which is expected to cut shipping times by 40 per cent. Earlier this month, The Week reported that “New Delhi is looking at shipping goods from ports in Mumbai and Gujarat to Dubai from where a rail link would connect to Saudi Arabia, onward to Jordan and finally to Haifa, without having to go around the Arabian peninsula. Here, goods can take the sea route to Bahrain and Oman or to European ports.”
However, the corridor requires a seamless connectivity between Israel and Saudi Arabia, the reliability of which has now come under question amid the escalating conflict between Tel Aviv and Gaza.
With popular sentiment in Saudi Arabia and other Arab countries leaning towards Palestine, Reuters columnist Afiq Fitri Alias suggest that Saudi Crown Prince Mohammed bin Salman is unlikely to normalise diplomatic ties with Israel anytime soon.
The Crown Prince, popularly called MBS, told Palestinian President Mahmud Abbas that he was working to prevent any escalation in the conflict between Hamas and Israel, reported the Saudi Press Agency on Tuesday. He reportedly told Abbas that his kingdom will “stand by the Palestinian people to achieve their legitimate rights to a decent life, achieve their hopes and aspirations, and achieve just and lasting peace.”
Established in October 2021 by India, Israel, the US and the UAE, I2U2 was the outcome of the 2020 Abraham Accords signed between Israel and Arab states like the UAE and Egypt.
“Both 12U2 and IMEC are expected to be impacted,” a senior Indian official was quoted as saying by The Hindu on Tuesday. The official confirmed that India is concerned about the ongoing developments in Israel.
The UAE foreign ministry on Sunday condemned the Hamas attacks a "serious and grave escalation," saying it was "appalled" by reports of Israeli civilians taken hostages.
"Civilians on both sides must always have full protection under international humanitarian law and must never be a target of conflict," Reuters cited the ministry's statement.
Abu Dhabi, according to a report by Axios, asked Syria's Assad regime not to get involved in the conflict between Israel and Hamas nor allow attacks on Tel Aviv from its soil.
