Khaberni - Yedioth Ahronoth newspaper quoted sources saying that Saudi Arabia rejects an Israeli project proposed as an alternative to the Strait of Hormuz trade route.
Sources described as "informed" indicate that the Indian-Middle East-Europe (IMEC) trade corridor initiative is facing a significant political hurdle related to the stance of Saudi Arabia, which has not yet shown clear enthusiasm for engaging in the project, compared to other Gulf countries that are more advanced in understandings.
According to the sources, the Riyadh involvement file is among the most complicated within the initiative, as a final formula ensuring its actual participation has not yet been achieved, despite the increasing political and economic momentum the project is gaining at the regional level. This absence, according to estimates, poses a challenge to the completion of one of the most geopolitically ambitious projects to link Asia with Europe through the Middle East.
In contrast, Israel has accelerated its steps in recent weeks to push the project forward, in an attempt to turn it into a strategic trade corridor that connects India to Europe via Gulf countries, Jordan, and Israel, thereby allowing the creation of an alternative to traditional shipping routes and reducing reliance on sensitive maritime passages such as the Strait of Hormuz.
Israeli assessments suggest that the new corridor, if implemented, could significantly weaken the geopolitical influence of Iran in the region, by reshaping trade and energy lines, and providing more stable land-sea alternatives.
Israeli officials also believe that the project could grant them a wider margin of strategic movement, reducing the impact of economic pressures on their security decisions.
According to Yedioth Ahronot, Israeli officials consider the acceleration of work on the corridor as a "rare strategic opportunity", especially after the revival of discussions about it following the changes in the region since the events of October 7, 2023, which have reshaped priorities in security and trade in the Middle East.
Although the initiative was first launched under American sponsorship before the Gaza war, subsequent developments have made its course more complicated, particularly with the escalation of regional tensions, and the reevaluation of several countries' positions on engaging in projects directly linked to Israel.
In this context, Israeli ministries, including the Foreign and Finance Ministries, are working to accelerate international negotiations, considering that the current period may present a crucial time window to revive the project before political dynamics change again.
However, despite this momentum, Saudi Arabia's rejection remains a pressing and central factor for the future of the initiative, as estimates indicate that Riyadh's absence from the actual course could limit the project's ability to materialize according to Israel's desire for absolute control over trade movement in the region.
