The Punishing Of Qatar, One Of The Financial Superpowers Of Arab World

The Punishing Of Qatar, One Of The Financial Superpowers Of Arab World

The Punishing Of Qatar, One Of The Financial Superpowers Of Arab World

Qatar shares plummeted the most since 2009, after Saudi Arabia, Bahrain, the United Arab Emirates and Egypt have said to stop air, sea and land transport to and from the Gulf Cooperation Council member. Saudi Arabia has immediately banned Qatar aircraft to land in the kingdom and said it banned the use of Saudi airspace on Tuesday.

The crisis beats some of the world’s richest nations in a power struggle over regional domination. Its target is a country with a smaller population than Houston, but with a sovereign fund with interests in global companies of Barclays Plc to Credit Suisse Group. It also belongs to the headquarters of the Central Command, the central command of the United States Army in the region.

While rising Monday are likely to affect energy exports from the Gulf of Mexico, which threatens to have far-reaching effects in Qatar and raises political risk in the Middle East, a region that s’ attack the Syrian wars To Yemen. Secretary of State Rex Tillerson said he is ready to help ease the tension in the US.

“It’s not in the US interest to see the CCG unravel,” said Allison Wood, an analyst at Control Risks in Dubai. “It would be very destabilizing in a region already very unstable. There are limits to what the United States gives its tacit approval to the kind of pressure that applies.”

Qatar’s first response took a defiant tone. The Foreign Ministry said the charges were “unfounded” and said they were part of a plan to “impose a trust on the state, which is in itself a violation of sovereignty.”

Qatar’s QE Index for shares fell 7.3 percent at the close in Doha, the highest since Qatar’s Qatari credit risk, measured by CDS, rose to the highest worldwide level. Saudi Arabia, Egypt and Dubai were also among the worst six artists on the day, according to data compiled by Bloomberg.

“There will be consequences for people, for travelers, for business people. More than that, geopolitical risks are put into perspective,” said Tarek Fadlallah, Managing Director Nomura Asset Management in the Middle East, in an interview with Bloomberg Television . “As this is an unprecedented move, it’s very difficult to see how this system works.”

The Saudis have also accused Qatar of supporting the “Iranian-backed terrorist groups” operating in the eastern province of the kingdom, as well as in Bahrain.

While Qatar maintains diplomatic and economic ties with Iran, it is not clear how close the two countries are, and none of the statements released on Monday offered no evidence of deep cooperation. Saudi Arabia has also accused Qatar of supporting “terrorist groups to destabilize the region,” including the Muslim Brotherhoods, the Islamic State and Al Qaeda.

Iranian Foreign Minister Mohammad Javad Zarif entered the fight, saying on Twitter that “coercion” would not lead to a solution.
“Neighbors are permanent, geography can not be changed,” he said.

The five key countries involved in the conflict are allies of the United States, Qatar has committed $ 35 billion to invest in US assets. The Qatar Investment Authority, the sovereign wealth fund, plans to open an office in Silicon Valley.
Tillerson, speaking at a news conference in Sydney, said it was important that the Gulf countries remain unified and encouraged the parties to resolve their disputes. He said that the crisis would not jeopardize the fight against terrorism.

Four Saudi Arabian-led US allies have begun plans to isolate Qatar in an unprecedented escalation to punish one of the region’s financial superpower for its support of Islamist groups and ties to Iran.

Qatar shares plummeted the most since 2009, after Saudi Arabia, Bahrain, the United Arab Emirates and Egypt have said to stop air, sea and land transport to and from the Gulf Cooperation Council member. Saudi Arabia has immediately banned Qatar aircraft to land in the kingdom and said it banned the use of Saudi airspace on Tuesday.

The crisis beats some of the world’s richest nations in a power struggle over regional domination. Its target is a country with a smaller population than Houston, but with a sovereign fund with interests in global companies of Barclays Plc to Credit Suisse Group. It also belongs to the headquarters of the Central Command, the central command of the United States Army in the region.

While rising Monday are likely to affect energy exports from the Gulf of Mexico, which threatens to have far-reaching effects in Qatar and raises political risk in the Middle East, a region that s’ attack the Syrian wars To Yemen. Secretary of State Rex Tillerson said he is ready to help ease the tension in the US.

“It’s not in the US interest to see the CCG unravel,” said Allison Wood, an analyst at Control Risks in Dubai. “It would be very destabilizing in a region already very unstable. There are limits to what the United States gives its tacit approval to the kind of pressure that applies.”

Qatar’s first response took a defiant tone. The Foreign Ministry said the charges were “unfounded” and said they were part of a plan to “impose a trust on the state, which is in itself a violation of sovereignty.”

Qatar’s QE Index for shares fell 7.3 percent at the close in Doha, the highest since Qatar’s Qatari credit risk, measured by CDS, rose to the highest worldwide level. Saudi Arabia, Egypt and Dubai were also among the worst six artists on the day, according to data compiled by Bloomberg.

“There will be consequences for people, for travelers, for business people. More than that, geopolitical risks are put into perspective,” said Tarek Fadlallah, Managing Director Nomura Asset Management in the Middle East, in an interview with Bloomberg Television . “As this is an unprecedented move, it’s very difficult to see how this system works.”

The Saudis have also accused Qatar of supporting the “Iranian-backed terrorist groups” operating in the eastern province of the kingdom, as well as in Bahrain.

While Qatar maintains diplomatic and economic ties with Iran, it is not clear how close the two countries are, and none of the statements released on Monday offered no evidence of deep cooperation. Saudi Arabia has also accused Qatar of supporting “terrorist groups to destabilize the region,” including the Muslim Brotherhoods, the Islamic State and Al Qaeda.

Iranian Foreign Minister Mohammad Javad Zarif entered the fight, saying on Twitter that “coercion” would not lead to a solution.
“Neighbors are permanent, geography can not be changed,” he said.

The five key countries involved in the conflict are allies of the United States, Qatar has committed $ 35 billion to invest in US assets. The Qatar Investment Authority, the sovereign wealth fund, plans to open an office in Silicon Valley.
Tillerson, speaking at a news conference in Sydney, said it was important that the Gulf countries remain unified and encouraged the parties to resolve their disputes. He said that the crisis would not jeopardize the fight against terrorism.

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