Attack on Saudi MBC Offices and the Egypt/Iraq Saudi Investment Protection Agreement

Saudi Arabia aims to ensure countries like Egypt and Iraq never become economically or financially willing to work against the IMEC.

Resurgence of Expropriation Risk

In 2020, the risk of expropriation resurfaced for many global businesses. This was triggered by Trump’s decision to compel the Chinese-owned TikTok to sell its business to an American company or face a complete ban in the US, a major market for TikTok. Less than two years later, the risk of expropriation became a reality due to the war in Ukraine. Following the US's implementation of the most extensive sanctions regime against Russia in history, Russia retaliated by expropriating and seizing Western assets in response to the freezing and seizure of Russian assets in Western countries.

Expropriation in the Aftermath of the Arab Spring

In the MENA region, expropriation was widely employed in the aftermath of the Arab Spring. For example, in Libya, Haftar used it against the rebels; in Egypt, Sisi used it against the Muslim Brotherhood; in Yemen, the Houthis used it against Saleh’s supporters; and in Syria, Assad used it against opposition factions. With the possibility of an Arab Spring 2.0 looming as a result of the ongoing Israel-Palestine war, the risk of expropriation is once again rising in the MENA region.