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

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No less significantly, the sudden clash between Qatar and Saudi Arabia points to the explosive geopolitical tensions that run through the region and which are ever more enmeshed with the conflicts between the major imperialist and great powers.

"We are assessing the situation", said MoFA Spokesperson Bharat Raj Poudyal.

This rift with Qatar "just emphasizes the lack of unity", Ibish said. The US president announced a $110 billion arms deal with the Saudis, and sent a message that nations there must take greater responsibility to rein in bad actors. In this photo provided by Doha News, shoppers stock up on supplies at a supermarket in Doha, Qatar on Monday, June 5, 2017 after Saudi Arabia closed its land border with Qatar, through which the tiny Gulf nation imports most of its.

Saudi Arabia had chose to sever diplomatic and consular relations with Qatar "proceeding from the exercise of its sovereign right guaranteed by worldwide law and the protection of national security from the dangers of terrorism and extremism", the report said.

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"Our flights to and from Doha are operating as per schedule", Jet Airways said in a tweet.

M - Astana calls parties involved in the Qatar row for talks, Kazakh Foreign Minister said Tuesday. "One potential concern is that Qatari banks may now find it more hard to secure wholesale financing, which could precipitate a more abrupt cooling of the country's credit boom", he added.

Qatar has close relations with Iran because they share the largest underwater natural gas field in the world. The first is that as a small country of 2.2 million people, it makes sense from a security standpoint not to alienate any powerful regional actor, be it Iran, Israel or Saudi Arabia.

In the 1990s, Gulf leaders had toyed with intervening in Qatar after the former emir had overthrown his father, which they saw as a awful precedent for power transitions among the Gulf's royal families.

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Saudi Arabia said it was cutting ties due to Qatar's "embrace of various terrorist and sectarian groups aimed at destabilizing the region", including the Muslim Brotherhood, al-Qaida, the Islamic State group and militants supported by Iran in the kingdom's restive Eastern Province.

Qatar later clarified the news agency was hacked, and that the report quoting the Emir was "fake news".

"If sanctions are not resolved in short order, World Cup construction could be impacted, and plans for fans to base themselves in neighboring countries might also be affected", the bank said. That dispute centered on Egypt following the army-led ouster of Islamist President Mohamed Mursi, a Muslim Brotherhood leader.

Join the MEED team this Thursday at 13:00UAE on MEED Live as they review the latest developments in the Middle East and consider what the moves against Qatar will mean for the region. "We want to bring them in the right direction".

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