The Madrid Peace Process has been dominated since its beginning in October 1991 by the U.S. as the most important extraregional power. Although Russia is the second official co-sponsor beside the US, it was the United States, who has fostered the Arab-Israeli negotiations substantially by preparing a framework for the meeting of the parties or by suggesting bridging proposals on their own. Moreover it has played a crucial role in implementing the reached accords, either by providing the necessary financial means or by offering political and security-related guarantees. Therefore it is the only player in the international system, which has the political power and the necessary capacities to urge the regional parties to compromises and to enhance security in the region. Moreover it offers security not just to Israel, but also to the oil producing, "conservative" monarchies in the Arab-Persian Gulf, mainly Saudi-Arabia, Kuwait and the UAE.
(Párrafo extraído del texto a modo de resumen)