Saudi Arabia continues to condition any normalization of diplomatic relations with Israel on establishing an irreversible pathway to Palestinian statehood, a stance reaffirmed by senior officials including the foreign minister as recently as late May 2026. The October 2023 Hamas attack and subsequent Gaza conflict suspended earlier U.S.-mediated talks that had linked normalization to broader security guarantees and economic cooperation under the Abraham Accords framework. Saudi public opinion has hardened sharply against ties with Israel, with surveys showing near-universal opposition, while Crown Prince Mohammed bin Salman has issued repeated public criticisms of Israeli actions. These factors, combined with the absence of meaningful advances on Palestinian issues through mid-2026, underpin trader consensus that formal diplomatic relations remain unlikely before the 2027 deadline.