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What We’re Watching: Saudi invests in Syria rebuild, Ukraine and Russia seek cash, Thai-Cambodia border battle escalates

​Syrian Minister of Economy Dr. Nidal Al-Shaar meets with Saudi Minister of Investment Khalid Al-Falih in Damascus, Syria, on July 23, 2025.

Syrian Minister of Economy Dr. Nidal Al-Shaar (left) meets with Saudi Minister of Investment Khalid Al-Falih (right) during an official visit in Damascus, Syria, on July 23, 2025.

Rami Alsayed/NurPhoto
By Zac Weisz,
Zac Weisz

Zac reports on global affairs, covering everything from elections and international relations, to conflicts in Africa, Europe, and the Middle East. With the Trump administration keen to alter the world order, though, there’s a heavy emphasis right now on US politics – an area with which he is intimately familiar. He also reports on the cross-section between sports and geopolitics. Prior to joining GZERO, Zac was a senior national politics correspondent at National Journal, where he covered the 2024 presidential election from its inception to the dramatic finish, as well as major congressional actions during the Biden administration. Prior to journalism, Zac worked as an economic analyst for Oxford Economics, calculating the impact of various tax policies, as well as the United Kingdom’s exit from the European Union. Born in London, he currently resides in New York City, where you can find him playing football (the original version) or watching it on television while attempting to cook up a storm.

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Willis Sparks,
Willis Sparks
Willis Sparks is a senior editor for GZERO Daily. He is also a Director in the Global Macro practice at Eurasia Group, where he has worked since 2005. He has made speeches on international politics on every continent except Antarctica. Willis holds degrees from Brown University, the Juilliard School, Columbia University's School of International and Public Affairs, and the Institut d'Etudes Politiques in Paris. He also holds an honorary degree from the Moscow Art Theatre School. A native of Macon, Georgia, Willis has worked as a stuntman at New York's Metropolitan Opera. As a child, he declined an opportunity to spend an afternoon riding the Great American Scream Machine, a rollercoaster, with Ronald McDonald, for money. He has never regretted that decision.
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Riley Callanan
Riley Callanan

Riley is a former writer and reporter for GZERO. When she isn’t writing about global politics, you can find her conducting research on American politics or persisting in her lifelong quest to learn French. Riley spends her time outside of work grilling, dancing, and wearing many hats (both literally and figuratively).

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July 25, 2025
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Saudi seeks a piece of the Syrian pie

Saudi Arabia has pledged to invest $6 billion to rebuild the war-torn Syrian economy, an amount that represents roughly 30% of Syria’s 2023 GDP. Still, the investment is just a tiny fraction of the estimated $400 billion in reconstruction funds that Syria needs. We’re watching to see if the Saudi move spurs other regional powers to take the plunge too – either as partners or rivals to Saudi influence. Meanwhile, Syrian interim President Ahmed al-Sharaa must try to keep a lid on sectarian violence and deal with ongoing attacks from a wary Israel. (Read more here.)

Ukraine and Russia get their money up for more war

The Russian and Ukrainian governments, apparently readying for even more conflict as peace talks stay stalled, are scrambling to shore up their war-fighting finances. On Thursday, Ukraine’s President Volodymyr Zelensky asked European leaders to help pay not only for new weapons but also for higher wages for his country’s soldiers. Meanwhile, as Russia’s war economy starts to sputter, President Vladimir Putin’s central bank cut its benchmark interest rate by two percentage points to a still-sky-high 18% — its second rate cut this summer.

Thailand-Cambodia clashes could reach “stage of war”

Border clashes between Thailand and Cambodia continue. Thailand has now evacuated more than 130,000 people from the area as acting Prime Minister Phumtham Wechayachai warns the situation “is escalating and could develop to the stage of war.” Violence has erupted in 12 areas along the disputed frontier, killing at least 15 Thais and one Cambodian. Nationalist tensions and a friendship breakup between powerful former leaders Hun Sen of Cambodia and Thaksin Shinawatra of Thailand are further inflaming the crisis.

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