US Treasury Secretary Acts as Middle East Peace Envoy Instead of Stimulus Bill

Israel, Bahrain, UAE Consecutive Visits
Support for Strengthening Cooperation Between Israel and the Middle East
Stimulus Bill Agreement Difficult Before Presidential Election

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Steven Mnuchin, the U.S. Secretary of the Treasury, visited the Middle East during negotiations on the economic stimulus bill to support the normalization of relations between Israel and the Middle East.

Meyer Ben-Shabbat, Israel's National Security Advisor, and Abdullatif Al Zayani, Bahrain's Foreign Minister, signed a joint statement on the normalization of relations between the two countries on the 18th (local time) in Bahrain.

The event was held with Secretary Mnuchin in attendance. Secretary Mnuchin arrived in Bahrain together with the Israeli delegation.

According to the U.S. online media Axios, Secretary Mnuchin said, "Today marks the first step for Israel, Bahrain, and the United States and an important beginning to strengthen stability in the Middle East region. We have great opportunities in security, trade, travel, and many other areas."

This overseas trip by Secretary Mnuchin is his first since the outbreak of the novel coronavirus disease (COVID-19). Given that the U.S. economy is still in crisis due to the impact of COVID-19, it is considered unusual for the Treasury Secretary to fly all the way to Bahrain for Middle East peace issues.

Following Bahrain, Secretary Mnuchin is scheduled to visit the United Arab Emirates (UAE). The UAE surprised not only Palestine but the entire world by agreeing to normalize relations with Israel ahead of Bahrain.

The Treasury Department officially announced Secretary Mnuchin's overseas trip only a day before his departure. Although there were expectations that his overseas schedule might change depending on the outcome of the economic stimulus bill negotiations, Secretary Mnuchin ultimately boarded the plane bound for Israel.

Bloomberg reported that Secretary Mnuchin's foreign trip was a move made as the possibility of an agreement on the U.S. economic stimulus bill decreased.

Israel and Bahrain signed a declaration of peace, cooperation, constructive diplomacy, and friendly relations at the White House on the 15th of last month. Although this document did not reach the level of an official treaty, the joint statement on that day formalized the progress in relations between the two countries.

On the 19th, Secretary Mnuchin will move to the UAE and return to Israel with the UAE's first Israeli delegation. This is also expected to serve as an opportunity for the U.S. to actively intervene in economic cooperation between Israel and the UAE.

On the same day, Speaker Pelosi set a 48-hour deadline for the economic stimulus bill negotiations at the White House. The Senate, where Republicans hold the majority, plans to vote on a $500 billion stimulus package on the 21st, but opposition from Democrats advocating for a $2.2 trillion stimulus package is expected.