(Bloomberg) -- Leaders of Egypt, Israel and the United Arab Emirates discussed energy and food security in a landmark meeting that showcased ever-deepening ties between the three U.S. allies at a time of intense geopolitical upheaval.
The talks between Egyptian President Abdel-Fattah El-Sisi, Israeli Prime Minister Naftali Bennett and Abu Dhabi Crown Prince Mohammed bin Zayed in the Red Sea resort of Sharm el-Sheikh also focused on other regional and global issues, according to a statement.
The mini-summit held Tuesday comes as the war in Ukraine has sent grain and energy prices soaring, and the looming prospect of a restoration of the 2015 Iran nuclear deal leaves regional powers fretting over the possible strengthening of a major foe in the Middle East.
The UAE and Israel -- which only established diplomatic relations in 2020 -- are lobbying the U.S. to formulate a security strategy should the atomic accord be revived, including boosting missile defense and intelligence sharing. Meanwhile, Egypt, the world's largest wheat importer, has begun talks with the International Monetary Fund on possible support as shock waves from Moscow's aggression pressure its economy.
U.S. allies in the region are organizing themselves in the absence of American leadership or commitment, according to a person familiar with UAE thinking, who asked not to be identified.
Egypt's primarily concerned with food security, according to the person. Cairo imports most of its wheat from Russia and Ukraine, using those supplies as a cornerstone for the subsidy program that provides bread at reduced prices for about 70 million people. In the recent past, rising bread prices have triggered sustained street protests.
The UAE and Israel are focused on the Iran negotiations in Vienna, the person said.
Gulf Arab governments and Israel opposed the 2015 deal that curbed Iran's nuclear program in return for sanctions relief, saying it failed to address their concerns over the Islamic Republic's ballistic missile capabilities or its support for militias including Lebanon's Hezbollah and Yemen's Houthis.
The Houthis, which have been fighting a Saudi Arabia-led coalition since 2015, have attacked the UAE this year, as well as Saudi military and oil facilities. The kingdom, which is facing pressure to pump more crude to tame prices, on Monday urged its western allies to help foil the strikes in order to prevent disruptions to oil supplies.
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