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The Petrostate Trap: Why Gulf States Cannot Afford to Stop Selling Oil — and Why Iran Knows It

An analysis of sovereign debt, oil dependency, the Strait of Hormuz, and the looming banking crisis threatening the Middle East 1.A Region Held Hostage by Its Own Wealth The Gulf Cooperation Council (GCC) — comprising Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman — is often portrayed as a bloc of fabulously wealthy petrostatesContinue reading “The Petrostate Trap: Why Gulf States Cannot Afford to Stop Selling Oil — and Why Iran Knows It”