On Monday, IBBC held a special briefing session to inform members about the unfolding geopolitical situation and the Israel & US – Iran War. Dr Lina Khatib, a member of the IBBC Advisory Council, Visiting Scholar at Harvard University, and Associate Fellow at Chatham House, and Mr Jon Wilks, former British Ambassador to Iraq, Qatar and Oman, and a member of the Atlantic Council and the IBBC management team, shared their respective insights.

A well-attended discussion was held under the Chatham House Rule, which means individual contributions cannot be attributed. Broadly, however, the discussion helped clarify the likely medium-term timeframe of the conflict and the intentions of the parties involved. As many IBBC members have business interests in the Gulf, the briefing covered not only Iraq but the wider GCC region. In summary, the conflict may continue for several weeks and is likely to broaden and escalate, as Iran is unlikely to respond passively.

Control Risks, an IBBC member, contributed regional analysis, as did members involved in Iraqi port operations. Several anticipated developments have already materialised, including the closure of airspace and the Strait of Hormuz, both of which have direct implications for Iraq.

IBBC will continue to hold regular weekly briefings for members for the foreseeable future, including a briefing with the British Ambassador to Iraq later this week.