GCC leaders convene Jeddah summit on security and economic risks
Updated
Updated · EY · May 5
GCC leaders convene Jeddah summit on security and economic risks
12 articles · Updated · EY · May 5
The meeting follows tensions that erupted on 28 February 2026, with leaders focusing on infrastructure protection, economic continuity, regional stability and engagement with investors and global partners.
Ports, airports, data centres and parts of oil and gas infrastructure have come under pressure, while the Strait of Hormuz is increasingly seen as a strategic vulnerability.
Higher oil prices may boost revenues by tens of billions of dollars for every $10 rise, but disrupted tourism, technology investment and Qatar's LNG operations underline the Gulf's economic exposure.
With US protection in doubt, will the GCC's trillion-dollar tech hubs become the next front line?
As Gulf states redirect their wealth inward, which American tech sectors face a sudden funding crisis?
Is investor confidence in the Gulf a massive miscalculation of the escalating risk of all-out war?
Gulf in Crisis: The 2026 Jeddah Summit, Strait of Hormuz Closure, and the Future of Regional Security and Energy Markets
Overview
The Jeddah Summit on April 28, 2026, brought together Gulf leaders in response to a severe regional crisis marked by escalating instability, Iranian missile and drone attacks, and the critical closure of the Strait of Hormuz. These events created significant security and economic risks, disrupting vital energy flows and international trade. The summit highlighted the GCC’s unified stance to address these threats, reinforced joint security efforts, and initiated projects to enhance regional resilience. Despite ongoing diplomatic efforts and a fragile ceasefire in the broader Iran-US-Israel conflict, the region faces continued challenges in restoring stability and safeguarding economic interests.