Qatar crisis - page 7

EghtesadOnline: Foreign Minister Mohammad Javad Zarif talked on the phone with a number of his counterparts on the latest developments in the region, particularly the ongoing crisis in the Persian Gulf Arab states.

EghtesadOnline: Oil dropped to the lowest level in more than three weeks as the market refocused on glut concerns after a diplomatic clash involving Saudi Arabia and Qatar was seen as having a limited impact on supply.

EghtesadOnline: The diplomatic clash between Qatar and three Arab allies flared regional tensions and caused oil prices to jump. For OPEC, it’s likely to remain business as usual.

EghtesadOnline: Qatar’s state airline is set to become the biggest loser from the diplomatic breakdown in the Persian Gulf—with competitors in Dubai and Abu Dhabi also set to suffer.

EghtesadOnline: Saudi Arabia’s isolation of Qatar has been brewing since 1995, and the dispute’s long past and likely lingering future are best explained by natural gas.

EghtesadOnline: The windfall from being the world’s largest exporter of liquefied natural gas has allowed Qatar to amass about $335 billion of investments around the world through its sovereign wealth fund. Now, a diplomatic spat with neighboring countries threatens to hamper the Qatar Investment Authority’s ability to continue making headline-grabbing global deals.

EghtesadOnline: Qatari banks, already stretched by financing demands of the $200 billion 2022 World Cup, took a head-on blow from its neighbors’ abrupt decision to cut economic and diplomatic ties.

EghtesadOnline: Kuwait’s ruler is stepping up his efforts to resolve the deepest crisis in the history of the Gulf Cooperation Council after Saudi Arabia and its allies pushed to isolate Qatar by cutting off air and sea transport and closing the tiny nation’s only land border.