Three of the four major Gulf economies - Saudi Arabia, the United Arab Emirates, Kuwait and Qatar - may review their overseas investments and future commitments due to the pressure on their budgets and economies due to the Israeli-US war against Iran, the Financial Times reports, citing its sources.
According to a representative of the Gulf states, this could affect everything from investment promises to foreign countries or companies, sports sponsorships, contracts with businesses and investors or asset sales.
He explained that three of the four major Gulf economies have discussed the joint pressure they are under financially and economically. It was not immediately clear which three Gulf states were involved.
The official explained that a number of Gulf states have begun an internal review, reviewing current and future investment commitments, "to alleviate some of the expected economic strain from the current war. "Especially if the war and its associated costs continue at the same pace," he said.
The move is a precautionary measure that results from "the fiscal pressures these countries face from reduced energy revenues, from production slowdowns or the inability to sail, [and from] the tourism and aviation sectors, in addition to increased defense spending."
A Gulf government adviser said the prospect of reviewing investment from wealthy nations had caught the White House's attention.
Last year, Saudi Arabia, the UAE and Qatar pledged to invest hundreds of billions of dollars in the United States following a visit by President Donald Trump.
Any move that affects investment in the United States or other Western countries could increase pressure on Trump to seek a diplomatic strategy to end the war with Iran.
Tehran responded to the attack by Israel and the United States, attacking Washington's regional allies. The war has brought shipping through the Strait of Hormuz - the key waterway through which a fifth of the world's oil and gas passes - to a complete halt, with at least 10 tankers hit in the Persian Gulf.
Qatar, the world's second-largest producer of liquefied natural gas, has halted production after a drone attack on its main liquefied natural gas plant. One of Saudi Arabia's largest oil refineries was also hit.
Iran also struck US bases and embassies in the region, as well as airports, hotels and residential buildings, severely disrupting air traffic and tourism.
The Gulf states have been pressuring Trump to refrain from attacking and seek a diplomatic solution with Iran, but have borne the brunt of Iran's retaliatory strikes.
Khalaf al-Habtour, a prominent businessman from the United Arab Emirates (UAE), expressed the Gulf states' frustration at being drawn into a war provoked by the US and Israel. The post on social media was addressed to Trump.
"Direct question: Who gave you the authority to drag our region into a war with Iran? And on what basis did you make this dangerous decision? "Did you calculate the collateral damage before you pulled the trigger?" asks al-Habtour, addressing Trump.
Businessman pointed out that the Gulf states are expected to be major sponsors of Trump's Gaza reconstruction plan and supporters of the Peace Council.
According to him, the Gulf Arab states have "contributed billions of dollars based on support for stability and development."
"These countries have the right to ask today: where did this money go? Are we funding peace initiatives or are we funding a war that puts us in danger?", Khalaf al-Habtour also asks.