{"id":145575,"date":"2017-06-06T06:34:29","date_gmt":"2017-06-05T20:34:29","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/auarticles\/qatar-diplomatic-crisis\/"},"modified":"2021-03-09T14:44:29","modified_gmt":"2021-03-09T03:44:29","slug":"qatar-diplomatic-crisis","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/geopolitical-events\/qatar-diplomatic-crisis\/","title":{"rendered":"Qatar Diplomatic Crisis"},"content":{"rendered":"<p><strong>Qatar Diplomatic Crisis <\/strong><br \/>\n5th June 2017 a diplomatic crisis hit Qatar with seven countries. \u00a0Saudi Arabia, Bahrain, United Arab Emirates, Egypt Yemen, Libya and the Maldives announced<span style=\"text-decoration: underline;\"><span style=\"color: #008000; text-decoration: underline;\"> <a style=\"color: #008000; text-decoration: underline;\" href=\"http:\/\/edition.cnn.com\/2017\/06\/05\/middleeast\/saudi-bahrain-egypt-uae-qatar-terror\/index.html\">they are cutting all diplomatic ties with Qatar<\/a> <\/span><\/span>which came as a shock to the rest of the World. Reason? \u2013 Saudi Arabia made an announcement via Saudi Press Agency, stating it was taking this step to protect its national security from the dangers of terrorism and extremism and it is believed the rest of the countries have the same reasons for cutting its diplomatic ties with the tiny Gulf nation.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-56466\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2017\/06\/img-1.png\" alt=\"img 1\" width=\"1138\" height=\"526\" \/><span style=\"color: #808080;\">USOUSD \u00a0 \u00a0 \u00a0 \u00a0 Source: Wixad MT4<\/span><\/p>\n<hr \/>\n<p style=\"text-align: left;\"><strong>Country profile \u2013 Qatar<\/strong><\/p>\n<p><strong><span style=\"color: #999999;\">Capital<\/span>:<\/strong> Doha<br \/>\n<strong><span style=\"color: #999999;\">Official language<\/span>:<\/strong> Arabic<br \/>\n<strong><span style=\"color: #999999;\">Currency<\/span>:<\/strong> Riyal (QAR)<br \/>\n<strong><span style=\"color: #999999;\">Population<\/span>:<\/strong> 2,675,522 (2016)<br \/>\n<strong><span style=\"color: #999999;\">GDP total<\/span>:<\/strong> $353,143 billion<br \/>\nQatar is a member of <a href=\"http:\/\/www.opec.org\/opec_web\/en\/\"><span style=\"text-decoration: underline;\"><span style=\"color: #008000; text-decoration: underline;\">OPEC (Organization of the Petroleum Exporting Countries<\/span><\/span>)<\/a><\/p>\n<hr \/>\n<p><strong>What has happened so far?<\/strong><br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> The five Arab states have cut off land, air and sea travel to and from Qatar<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> The Foreign Ministry of Bahrain have issued a statement to order all diplomats to leave Doha within 48 hours and that all Qatari diplomats should leave Bahrain within the same timeframe<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> All the involved countries have ordered their citizens to leave Qatar<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> Saudi Arabia, United Arab Emirates have given Qatari nationals two-week timeframe to leave their countries<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> Qatar has been expelled from the Saudi led intervention in Yemen<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> Saudi Arabia, the UAE, Bahrain and Egypt have all said they will close their airspace to Qataris national airline \u2013 Qatar Airways<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> All major airlines, including \u2013 Emirates, Etihad Airways, Gulf Air, EgyptAir, Air Arabia, Saudi Arabian Airlines and FlyDubai have suspended their flights to and from Qatar<br \/>\n<span style=\"color: #008000;\">\u00bb<\/span> Qatar Airways have also suspended their flight operation to Saudi Arabia<br \/>\n&nbsp;<br \/>\nQatar has since responded to the shock announcements and has called the decisions \u2018unjustified\u2019. The statement reads \u2018The measures are unjustified and are based on claims and allegations that have no basis in fact\u2019 and it added that the decision will \u2018not affect the normal lives of citizens and residents\u2019.<br \/>\n<strong>The impact<\/strong><br \/>\nIt is still too early to see what the effect the diplomatic crisis with have on Qatar\u2019s economy, but since the announcement was made the oil prices moved lower, raising further uncertainty about the oil productions in the Middle East. <span style=\"text-decoration: underline;\"><span style=\"color: #008000;\"><a style=\"color: #008000; text-decoration: underline;\" href=\"http:\/\/economictimes.indiatimes.com\/markets\/commodities\/news\/qatars-dispute-with-arab-states-lifts-oil-prices-may-impact-lng-supplies\/articleshow\/58997400.cms\">Oil prices<\/a><\/span><\/span> have dropped more than 4% in the last week, the largest decline since early May.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-56467\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2017\/06\/img-2.png\" alt=\"img 2\" width=\"1138\" height=\"526\" \/><br \/>\n<span style=\"color: #808080;\">USOUSD \u00a0 \u00a0 \u00a0 \u00a0 Source: Wixad MT4<\/span><\/p>\n<p style=\"text-align: left;\">Another concern for Qatar is the border, the only way in by land is the border with Saudi Arabia. Every day there are hundreds of lorries which cross the border to supply Qatar with different supplies and one of the main supplies is food, in fact around 40% of <span style=\"text-decoration: underline;\"><span style=\"color: #008000;\"><a style=\"color: #008000; text-decoration: underline;\" href=\"https:\/\/www.washingtonpost.com\/news\/worldviews\/wp\/2017\/06\/05\/qatar-could-face-a-food-crisis-in-spat-with-arab-neighbors\/?utm_term=.99b7cd51f287\">Qatar\u2019s food supplies<\/a><\/span><\/span> is believed to come via this route, so it is a big concern for Qatar.<\/p>\n<p style=\"text-align: left;\">It is worth keeping up with further developments in this matter as it could have an impact in the oil markets.<\/p>\n<p>&nbsp;<br \/>\n&nbsp;<\/p>\n<p style=\"text-align: right;\"><span style=\"color: #808080;\"><strong>-By\u00a0Klavs Valters<br \/>\n<\/strong>Wixad<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>Qatar Diplomatic Crisis 5th June 2017 a diplomatic crisis hit Qatar with seven countries. \u00a0Saudi Arabia, Bahrain, United Arab Emirates, Egypt Yemen, Libya and the Maldives announced they are cutting all diplomatic ties with Qatar which came as a shock to the rest of the World. Reason? \u2013 Saudi Arabia made an announcement via Saudi [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4043],"tags":[],"class_list":["post-145575","post","type-post","status-publish","format-standard","hentry","category-geopolitical-events"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Qatar Diplomatic Crisis - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/geopolitical-events\/qatar-diplomatic-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qatar Diplomatic Crisis - Wixad\" \/>\n<meta property=\"og:description\" content=\"Qatar Diplomatic Crisis 5th June 2017 a diplomatic crisis hit Qatar with seven countries. \u00a0Saudi Arabia, Bahrain, United Arab Emirates, Egypt Yemen, Libya and the Maldives announced they are cutting all diplomatic ties with Qatar which came as a shock to the rest of the World. 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Reason? \u2013 Saudi Arabia made an announcement via Saudi ","link":"https:\/\/www.gomarkets.com\/en\/articles\/shares-and-indices\/us-dollar-index-futures-go-markets\/","type":"next","category":"shares-and-indices"},"previous":{"id":145573,"slug":"nifty-50-india-50","title":"Nifty 50","date":"2017-06-02 02:12:48","excerpt":"Qatar Diplomatic Crisis 5th June 2017 a diplomatic crisis hit Qatar with seven countries. \u00a0Saudi Arabia, Bahrain, United Arab Emirates, Egypt Yemen, Libya and the Maldives announced they are cutting all diplomatic ties with Qatar which came as a shock to the rest of the World. Reason? \u2013 Saudi Arabia made an announcement via Saudi ","link":"https:\/\/www.gomarkets.com\/en\/articles\/shares-and-indices\/nifty-50-india-50\/","type":"previous","category":"shares-and-indices"},"category":{"slug":"geopolitical-events"},"_links":{"self":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/145575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/comments?post=145575"}],"version-history":[{"count":0,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/145575\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/media?parent=145575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/categories?post=145575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/tags?post=145575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}