Saudi Foreign Minister Prince Faisal bin Farhan said on Friday that Riyadh has held four rounds of talks with Iran, describing them as “cordial” but lacking significant progress at a time when Tehran's nuclear activities have put the region in “a very dangerous place.”
Speaking to reporters in Washington a day after meeting US Secretary of State Antony Blinken, Prince Faisal called for a "quick suspension" of Iranian activities breaching the 2015 nuclear agreement and said there should be a "quick resumption" of indirect talks between the US and Iran.
He said Riyadh has spoken with Tehran.
“These interactions have been [of] an exploratory nature, and have not reached a state where we can say we made substantial progress,” said Prince Faisal.
Iran topped Prince Faisal's agenda as he met Mr Blinken and argued that increased pressure on Tehran is inevitable if stalled talks don't make headway.
“You will have to put on the table enough tools that encourage Iran to come to the table. I wish that we wouldn't have to talk about pressure," the prince said.
"I wish that the government of Iran would see that it's in the real interest of the region and its own interest and in the interest of the people or Iran that it’s focused on discovering prosperity… rather than having this excessive focus on trying to expand its influence in the region."
On Lebanon, Prince Faisal described this week's violence in Beirut as “very concerning”, saying Riyadh hopes to see structural changes and a leadership that can address the country's economic and political problems.
Asked if Saudi Arabia plans to invite the new Prime Minister Najib Mikati to Riyadh, Prince Faisal did not give a direct answer.
The Saudi foreign minister welcomed the recent electoral progress in Iraq.
“We are encouraged that the political process in Iraq is healthy,” he said in response to questions from The National.
Prince Faisal expressed openness to work with parties in Baghdad, and said his country is “very engaged and we were very active, especially in the last year.”
On Afghanistan, Prince Faisal said Riyadh has had no contacts with the Taliban, and urged the hardline group to seek a path of reconciliation.
“We would certainly encourage different types of national reconciliation, focused on finding stability, financial security, finding a path to prosperity, that will lead to bring in all the elements of Afghan society," he said.
Saudi Arabia’s top diplomat reiterated his praise for the Abraham Accords, but said Riyadh is not ready to normalise relations with Israel before the establishment of a Palestinian state.
"We are very much convinced that the only way we can have lasting stability is if we find a way to address the issue of Palestine and the issue of a Palestinian state,” he said.
Prince Faisal said Saudi Arabia’s relations with China, which have grown in the last three years, did not come up in the meeting with Mr Blinken.
On his trip to Washington, Prince Faisal also met Robert Malley, the US special envoy for Iran affairs who is due to visit the UAE, Saudi Arabia and Qatar in the near future.
Mr Malley has said he would co-ordinate with US security partners in the region on Iran to prepare for all contingencies, as the indirect talks to revive the nuclear accord remain at a standstill.
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
