Trump faces Gulf pressure for diplomacy as world leaders gather in New York

Welcome to this week’s Fortune Gulf Brief.

We’ll be covering: Trump meets with Gulf leaders in New York as he escalates Iran threats Qatar’s wealth fund signs $20 billion partnership with JP Morgan and launches new domestic investment platform Hollywood’s new power investors: Gulf funds granted U.S. approval to back Paramount-Warner merger The UAE’s growing space satellite ambitions receive $1 billion boost And, the three things we enjoyed reading this week The U.S.

President has certainly upped the rhetoric on the conflict in the Gulf, telling the annual UN General Assembly in New York, that Iran could face “annihilation” .

“I have a big decision to make,” Trump said.

“Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before? Or do I annihilate the Islamic Republic and do it quickly?” The President has spoken before about the “decapitation” of Iran and that the country would be “decimated” , and this appears to be the latest attempt at threatening Iran back to the negotiating table and ending the conflict.

There is frustration in the White House that the war continues, with Iran launching attacks on its neighbors and the Strait of Hormuz still compromised.

The latest salvo will add to fears in the Gulf that the conflict, which started in February, is far from over.

Ahead of their planned meeting with Trump on the sidelines of UNGA, Bloomberg reported that the Gulf states were looking to urge the U.S.

President to avoid any further escalation of hostilities .

Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, also took to the podium at this year’s UNGA to call for renewed diplomacy to resolve the conflict .

“We remain deeply convinced that the crisis in the Gulf can be resolved through diplomatic means,” he told the assembly, which is expected to feature nearly 130 heads of state.

He added that the Gulf is experiencing “one of the most dangerous phases” in its history.

During his meeting with Gulf states, the U.S.

President said that special envoys Steve Witkoff and Jared Kushner had held a “very productive” three-hour meeting with the Iranian delegation, which included Iran’s foreign minister Abbas Araghchi.