The region’s rulers want to reduce their dependence on Western arms
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Deals with Saudi Arabia, Qatar and the United Arab Emirates show it is now a defence-industry power
The conflict complicates life for the custodians of Middle Eastern oil fortunes
A feud between Saudi Arabia and the UAE will have far-reaching consequences
Residual risks and ruined infrastructure will keep prices high
Although many of their investments have a commercial logic, the result looks increasingly unwieldy
If war cannot be avoided, should they take sides?
