Trump's Middle East diplomacy: Billions at stake

This is Donald Trump's second foreign trip during his second term. In April, he attended the funeral of Pope Francis in Rome.

On Tuesday, the American President will meet with the de facto ruler of Saudi Arabia, Crown Prince Mohammed bin Salman, in the Saudi capital. On Wednesday, he is scheduled to participate in a summit of Arab state leaders in Riyadh. According to Arab media, the meeting will include, among others, the presidents of Lebanon, the Palestinian Authority, and Syria: Joseph Aoun, Mahmoud Abbas, and Ahmed al-Sharaa.

From Saudi Arabia, Trump is set to fly to Qatar on Wednesday, ending his trip in the United Arab Emirates on Thursday. The U.S. President announced on Monday that he is considering visiting Istanbul, Turkey, where Ukrainian-Russian peace negotiations are due on Thursday. Ukrainian President Volodymyr Zelensky has already confirmed his attendance. It is unclear if Russian leader Vladimir Putin will be there.

The three Arab monarchies Trump is visiting are among the wealthiest countries in the world, thanks to their vast oil and gas reserves and are key U.S. allies in the region.

Arab states have been a focus of Trump's attention since his first term, when he facilitated the Abraham Accords. These accords led to Israel establishing diplomatic relations with the United Arab Emirates, Bahrain, and Morocco. Most Arab and Muslim nations do not recognize Israel and do not maintain official diplomatic ties with it.

Trump has long wanted to extend the Abraham Accords to additional countries, primarily Saudi Arabia.

There have been longstanding announcements of massive contracts between the U.S. and Saudi Arabia. In January, Salman announced that Saudi Arabia intends to invest $600 billion in the American economy over four years. Trump has expressed a desire for this amount to increase to $1 trillion.

Reuters reported in April that the U.S. is prepared to offer Saudi Arabia a $100 billion arms sale. The package will include C-130 transport planes, MQ-9B Reaper drones, radars, and missiles. Trump is also set to discuss a contract for F-35 fighter jets, which Riyadh has long sought to purchase.

A significant deal for investment in the Saudi nuclear energy sector is also anticipated. Last week, the media reported that the Trump administration no longer makes this contract contingent on Saudi Arabia normalizing relations with Israel, a stipulation of the previous U.S. President Joe Biden. The news was met with concern in Israel. The contracts between the U.S. and Saudi Arabia are also expected to be part of a broader agreement on defence cooperation between the two countries.

In March, the United Arab Emirates announced a 10-year investment program in the American economy worth $1.4 trillion. The investments will focus on high-tech sectors, including artificial intelligence, energy, and semiconductors. The UAE aims to become a leading economy in artificial intelligence and hopes for the lifting of U.S. export restrictions on advanced technologies.

Another critical point in regional policy is the ongoing negotiations with Iran regarding a nuclear agreement. So far, there have been four rounds of talks. Washington is striving to limit Iran's nuclear program and ensure that Tehran does not acquire nuclear weapons. Iran emphasizes that the agreement should not restrict its ability to enrich uranium, which the U.S. and Israel oppose. Trump has repeatedly threatened that if the talks do not result in an agreement, the U.S. may attack Iran.