With a pending Gaza ceasefire and Donald Trump returning as US president, Saudi Arabia’s de facto leader must now decide whether to recognise Israel before a Palestinian state is created.

Secretary of State Antony Blinken on Tuesday said normalization between Israel and Saudi Arabia is ready to go, but requires following through on ending the war between Israel and Hamas in the Gaza Strip and a commitment to a pathway to a Palestinian state.

Israeli Prime Minister Benjamin Netanyahu is tapping the brakes on claims of success by President Biden, President-elect Trump and partners in the Middle East that a ceasefire and hostage release

Shafrir notes that Israel's risk premium is still at high levels: "Israel's risk premium has already fallen sharply since the beginning of November (against expectations at the time for an end to the war in Lebanon), but it is still high - on the international market, Israel's bonds are still traded similarly to companies with a BBB minus rating."

Hamas has accepted a draft agreement for a ceasefire in the Gaza Strip whilst Israel insists details are still being finalised

Saudi Arabia brings out the worst in the world of international sports in terms of politics and greed. FIFA’s awarding Saudi Arabia the 2034 World Cup hosting rights is just the tip of the iceberg.

Saudi Arabia, Turkey, and the UAE have expressed support for the Israel-Hamas ceasefire, calling for the withdrawal of Israeli forces, the return of displaced Palestinians, and unhindered humanitarian aid to Gaza.

With a pending Gaza ceasefire and Donald Trump returning as US president, Saudi Arabia's de facto leader must now decide whether to recognise Israel before a Palestinian state is created.

In his second term, Donald Trump should ditch his predecessor’s over-committed approach to Saudi-Israeli normalization.

With an Israel-Hamas cease-fire set to begin, the shock waves from their war have reshaped the region in unexpected ways.

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