Saudi Minister of Investment, Khalid bin Abdulaziz al-Falih, affirmed that the potential for normalizing relations with Israel still exists, contingent upon a peaceful resolution to the Palestinian issue.
He emphasized the importance of including the Palestinian conflict in broader normalization efforts in the region.
Economic tools, such as oil prices, were ruled out as leverage for a Gaza ceasefire.
Falih responded to a question about normalization in a discussion session at the Bloomberg New Economy Forum held in Singapore: “This matter was on the table, and it is still on the table, and it is clear that the recent withdrawal (from the talks) explains why Saudi Arabia is so determined to make a solution to the Palestinian conflict part of broader normalization in [West Asia].”
Three upcoming summits aim to gather Arab, African, and Islamic countries to promote a peaceful solution to the Israeli-Palestinian conflict.
Earlier talks on normalization between Tel Aviv and Riyadh were disrupted by the conflict between Hamas and Israel in October, despite previous progress and negotiations involving Saudi Crown Prince Mohammad bin Salman seeking security guarantees and access to technology.