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Saudi State Demand Delays IMEC; EU Spends €25B, Cable Stalled

6/19/2026

31 6 Full Breakdown

Summary

Story summary

Saudi Arabia says it will only normalize relations with Israel if a clear pathway to Palestinian statehood is established, risking delay of the India-Middle-East-Europe Economic Corridor (IMEC).
Since the Iran war began, the EU has spent an extra €25 billion on oil and gas and seeks Gulf partners for new energy projects.
The Great Seas Interconnector, a 1,208-kilometre cable linking Europe, Cyprus and Israel, remains stalled by financing red tape.

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Story summary

Saudi Arabia says it will only normalize relations with Israel if a clear pathway to Palestinian statehood is established, risking delay of the India-Middle-East-Europe Economic Corridor (IMEC).
Since the Iran war began, the EU has spent an extra €25 billion on oil and gas and seeks Gulf partners for new energy projects.
The Great Seas Interconnector, a 1,208-kilometre cable linking Europe, Cyprus and Israel, remains stalled by financing red tape.