Global | BBVA Research Big Data Geopolitics Monitor. January 23, 2024

Israel intensifies military operations against Hamas in Gaza, with over 25,000 Palestinian deaths. The Israeli Defense Minister seeks a post-conflict diplomatic solution, aiming to dismantle Hamas and free Israeli hostages. Meanwhile, international efforts focus on establishing a plan for a Palestinian State.

Key points

• Key points:
• The U.S., under President Biden, is ramping up diplomatic efforts for peace in Gaza. While supporting Israel's right to self-defense, Biden is pushing for a ceasefire and a comprehensive Gaza peace plan. Brett McGurk, Biden's top Middle East adviser, has been dispatched to negotiate a permanent ceasefire and a roadmap for establishing a Palestinian State in Gaza and the West Bank.
• Jose Borrell, the EU foreign policy chief, has stated that Israel's strategy to destroy Hamas is ineffective. EU Ministers have proposed a Two-State solution to both Israeli and Palestinian representatives in Gaza.
• The Iran-supported Houthi rebels in Yemen have escalated their aggression, taking credit for attacking a Malta-flagged cargo ship and other Israel-affiliated vessels, affecting crucial maritime trade routes. The United States has retaliated with multiple strikes on Houthi targets in Yemen to diminish their missile capabilities, including destroying anti-ship ballistic missiles. U.S. forces have also intercepted Iranian-made weapons en route to the Houthis.
• Tensions in the Middle East are affecting Western Countries' indexes, introducing new risk pressures. Simultaneously, in Emerging Countries, indicators reflect instability in Ecuador, while in Argentina, the Economic Policy Uncertainty and Protest indexes are beginning to stabilize as the media assimilates the new economic measures.

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