After weeks of speculation over how the new Biden Administration will approach U.S. relations in the Arab Gulf, the first real hurdles for a new JCPOA Iran agreement are already emerging. The pro-Biden Europeans, the majority of whom appear very happy with the President-elect, are all looking forward to a realignment of U.S.-European geopolitical powers in the Arab Gulf. Most analysts expect that in addition to Biden’s promise to rejoin the Paris Agreement, Washington will also attempt to re-enter the JCPOA discussions with Iran. Oil and gas markets appear to have incorporated into their 2021-2022 assessments a re-emergence of Iranian oil exports to global markets. There is also an expectation of a more active pro-democratic positioning by the U.S. in the case of Turkey, Saudi Arabia, Egypt, and even the UAE. Unrest is mounting in those countries that Trump’s legacy may be dismantled by the incoming administration. At least […]