We knew it was coming. An Arab League showdown on Tuesday turned into a shouting match involving allies turned bitter enemies Saudi Arabia, Qatar, and United Arab Emirates.
Authored by Drieu Godefridi via The Gatestone Institute,
Qatar has remained defiant throughout its unprecedented summer diplomatic crisis with Saudi Arabia and other Gulf Cooperation Council (GCC) states which have brought immense pressure to bear on the tiny gas and oil rich monarchy through a complete economic and diplomatic blockade imposed by its neighbors.
Authored by Zainab Calcuttawala via OilPrice.com,
Despite the torrent of reports attesting to the non-impact of the Saudi Arabia-led diplomatic boycott of Doha, new estimates by Bloomberg’s economic survey predict that 2017 will be Qatar’s slowest year of GDP growth since 1995.
Authored by Tsvetana Paraskova via OilPrice.com,
The four countries leading the boycott against Qatar are going back to their list of 13 demands for Doha to meet before talks can start, essentially reverting the Arab Gulf spat back to square one.
At the same time, economic data for June shows that Qatar’s imports plummeted due to the blockade imposed by most of its neighbors, and foreign deposits at Qatari banks dropped to their lowest in nearly two years.