Today, where the Saudi economy stands, is not exactly it stood years before. Today where the country is, it is all because of some valuable decisions and milestone events that took place in history.
This article will highlight those 10 events that have a great role in changing the destiny and future of the country.
Discovery of oil
The major event that changed almost everything was the discovery of oil back in 1938 at the well of Dammam. It was only when King Abdul Aziz felt that the country without natural resources such as water and fertile land was leaping behind its neighboring countries and the world.
After Britain refused to approve a loan of 500,000 pounds for oil exploitation, King approached the US for assistance. The oil exploitation that started in 1933 with US assistance was a pure failure.
When at last the US was thinking to withdraw its assistance in 1936, well no. 7 was discovered with commercial oil. It was able to spur out 4,000 barrels of oil a day.
King Abdul Aziz and US President meeting in 1945
King Abdul Aziz knew that the US would soon emerge as a superpower and thereby he decided to hold great relations with them.
He held a meeting with Franklin Roosevelt, the then president in 1945. The meeting marked the start of great relations between the two states.
Increased Saudi Arabia’s share in Aramco
In 1973 Saudi Arabia increased its share to 25% in Aramco, which is a Saudi oil giant. Interestingly the oil prices jumped to $35 from a mere $3 a barrel in 1981.
1979’s attack on the Grand Mosque
On November 20, 1979, Juhayman Al-Otaybi and his people attacked the Grand Mosque of Makkah allowing people of Saudi Arabia to unite for Islam.
Iraq invasion of Kuwait
In 1990 Iraq invaded Kuwait allowing for an economic recession in Saudi Arabia as Saudi Arabia has spent lavishly to liberate Kuwait.
A Saudi joining Al-Qaeda
When 15 years old Saudi national joined Al-Qaeda and took part in the 9/11 attacks in the US, there were many who tried to end up US-Saudi ties. So much so that the US was pumped to attack Saudi Arabia.
However, Custodian of the Two Holy Mosques King Salman and Crown Prince Muhammad Bin Salman have been able to restore relations with the Trump administration.
Kingdom’s action against Al-Qaeda
The most dramatic event that took place in the history of the Kingdom of Saudi Arabia is one where Saudi Arabia decided to fight against Al Qaeda face to face.
Iran’s attempt of expansion
In 2011 Iran attempted to expand its rule by occupying Gulf. Yet quick Saudi action failed the attempt of Al-Jazeera Shield Forces to enter Bahrain.
Taking part in the Yemen war
Saudi Arabia took an active part in the Yemen war by supporting President Abdrabb Mansour against the Houthi control. Saudi Arabia and other countries were able to let 80% of Yemen free. They were also able to protect international maritime routes.
Last but the most important event that is all set to change the future of Saudi Arabia is the launch of Vision 2030 by Crown Prince Muhammad Bin Salman.
The vision sets to establish moderate Islamic culture, achieve economic stability, reestablish international status and strengthen the Saudi military for the protection of Saudi Arabia.