JAKARTA - Persian Gulf countries are reviewing foreign investment as the ongoing Middle East conflict puts pressure on their economies.
Several countries have started internal assessments to determine whether force majeure clauses can be applied to foreign contracts, the source said, without naming which countries are considering such measures.
"The economic pressure is caused by a decline in energy revenues due to slowing production and disrupted exports, a decline in tourism and aviation, and increased defense spending," the report added.
Last year, US President Donald Trump secured investments of 600 billion US dollars from Saudi Arabia, 1.2 trillion US dollars from Qatar, and more than 1.4 trillion US dollars from the United Arab Emirates, totaling more than 3 trillion US dollars (Rp50.819 trillion).
On February 28, the US and Israel launched an attack on targets in Iran, including in Tehran, which caused damage and civilian casualties.
Iran retaliated with attacks on Israeli territory, as well as on US military bases across the Middle East, Shipping through the Strait of Hormuz was almost halted after the hostilities.
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