Shortages in Israel and the Gulf could determine the war’s course
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Their rulers insist not but they are burning through their stockpiles fast
The only question is whether it will be sooner or later
Sales to some Arab states made up 12% of all defence exports in 2024
Gulf states could join the conflict
The pace far outstrips that seen in Ukraine. Stocks are under severe pressure
But its main concern remains Iran’s ballistic missiles and nuclear programme
