Ovidius University Annals: Economic Sciences Series (Feb 2024)
Immediate Geopolitical and Economic Considerations on the IsraelHamas Conflict in the First Two Weeks since 7 October 2023
Abstract
On October 7, 2023, a forceful military action of the Palestinian organization Hamas in Israel triggered dreadful humanitarian consequences for Israel, which immediately adopted resolute measures against Hamas, with subsequent impact on heightened geopolitical risks in the Middle East. The purpose of this article is to explore the historical context of geopolitical situation in Israel, the social, economic and political main challenges. The paper also discusses potential solutions that might prove adequate to restore the relations in the Middle East and appease the existing conflicts. The analysis explores the geopolitical considerations on foreign relations normalization processes in Middle East, with a focus on “2002 Arab Peace Initiative”. Furthermore, it presents the possible geoeconomic impact of the Israel-Hamas conflict on Europe, discussing the main risks for the global economy. The preliminary conclusions indicate the "two-state solution" still emerging as the most appropriate to achieve lasting peace in the Middle East.
