SAUDI ARABIA PERSPECTIVE

Riyadh, July 10, 2026. For Saudi Arabia, the resumption of strikes between the US and Tehran has revived concerns about a prolonged blockade of the Strait of Hormuz, a vital artery for the Gulf's oil exports. According to reports, the US Central Command claims to have struck around 90 Iranian military targets on Thursday, including missile and drone storage sites and logistical facilities along the coast, in response to attacks on commercial ships in the waterway. Tehran quickly retaliated, with the Revolutionary Guards saying they had targeted "key infrastructure and installations" on US regional bases, while Bahrain and Kuwait were also hit, according to EU diplomatic chief Kaja Kallas, who deemed these attacks "unacceptable".

The escalation comes after a fragile lull: three oil tankers, including a Qatari ship carrying LNG, were hit in a matter of hours near Oman, an incident Doha described as an "unacceptable attack" for which it held Tehran "fully responsible". The Gulf Cooperation Council firmly condemned this action, reviving fears about navigation freedom in a region through which most of the Gulf's energy exports pass. The immediate consequence was a Brent price surge of over 2%, to $76.08 a barrel, after the US revoked the license allowing the sale of Iranian crude.

On the diplomatic front, NATO Secretary-General Mark Rutte deemed the US strikes "absolutely necessary", stating that Tehran was violating the ceasefire, while Donald Trump declared that the interim agreement was "terminated", although leaving the door open to talks. This context comes as Tehran buried its supreme leader Ali Khamenei on Thursday in Mashhad, in a climate of mourning mixed with anti-Washington slogans, while his son and successor Mojtaba remains invisible since his injury.

For Riyadh, the equation remains unchanged since February: preserving the stability of the Gulf and the security of commercial routes without being drawn into a conflict whose calendar and outcome it does not control.