Saudi Crown Prince Mohammed bin Salman’s regional tour last week has underlined his position as king in waiting, ahead of his scheduled meeting with US President Joe Biden at the Gulf Cooperation Council (GCC) summit in Jeddah in mid-July. Prince Mohammed’s trip to Egypt, Jordan and Turkey also reflects his desire to strengthen and rebuild alliances as Washington scales back its engagement in the region, while Russia and China look to grow their influence. The diplomatic outreach comes as high oil prices fill state coffers, enhancing the kingdom’s economic position and ability to project its soft power through strategic regional investments.