The Middle East: the six monarchies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) that make up the Gulf Cooperation Council (GCC) have around 45 per cent of the known oil reserves in the world.

Armada International › Vol. 26 Nbr. 3, June 2002

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The Middle East: the six monarchies of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) that make up the Gulf Cooperation Council (GCC) have around 45 per cent of the known oil reserves in the world.

According to the Economist during the 1980s, the GCC countries spent on average some 15 per cent of their GDP on defence equipment, in the 1990s that had declined to 9 per cent. Eve...

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