ISIS is a universal threat, making strange bedfellows of US, Russia, EU and Iran. But there is no unified approach to combat the group. Saudi Arabia has formed a coalition of 34 largely Muslim nations to fight terrorism, as the main gate for ISIS fighters to go into Syria, which could be pivotal.
<h3><u>Refugee Crisis :-</u></h3>Three million Syrians have fled to Turkey, Lebanon, Jordan and Iraq, another 6.5 million displaced in the country. The EU, ideologically divided over how to handle the crisis, is bearing the brunt of refugee migration. Turkey, Greece, Bulgaria, Macedonia and Hungary have built anti-immigrant fences on their borders.
<h3><u>Volatile Oil Prices :-</u></h3>Oil trading has becoming more volatile due to growing tension between two, big OPEC players, pushing already slumped prices lower. Saudi's newly severed ties with Iran have destabilized a political situation that will further complicate oil outlook.
<h3><u>Iranian-Saudi Tension :-</u></h3>Saudi Arabia executed a dissident Shia Imam by sending out regional shockwaves and inciting violent reaction in Shia-dominated Iran. KSA then severed diplomatic and commercial ties with Iran; Gulf nations followed suit.
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