Isolation of Qatar: all the details of the global response, impact assessment

In the middle East diplomatic conflict erupted. Already, seven countries have declared that break off diplomatic relations with Qatar.

First about the decision, said Saudi Arabia, Kingdom of Bahrain, Egypt and the United Arab Emirates. Later they were joined by Yemen, Libya and the Maldives.

As noted, Saudi Arabia, UAE and Bahrain not only suspended diplomatic relations, but has closed its borders and forbade his subjects to visit Qatar, but the Qataris ordered within two weeks to leave the territory of their States.

Saudi Arabia, which heads the Arab coalition in the fight against Yemeni Houthi rebels, also said that Qatar will be removed from the structure of the coalition.

The main reasons of such decisions indicates the intervention of Qatar in the internal Affairs of Arab countries and support the Qatari authorities of terrorist activities of “al-Qaeda” and ISIS.

At the same time, several media outlets noted that the real reason was that during the past a week ago, a summit of Persian Gulf countries, Qatar news Agency disseminated a speech by the Emir of Qatar, who expressed the support of normal relations with Iran, which caused a wave of criticism at the summit.

Qatar, in turn, rejected the accusations. “The state of Qatar is a member of the cooperation Council for the Arab States of the Gulf (GCC), in compliance with its Charter, respect the sovereignty of other States and not intervene in their internal Affairs and to fulfill its obligations to combat terrorism and extremism,” – said in a statement the foreign Ministry of Qatar.

Experts the decision of the Arab countries associated with the fact that Qatar has become praises for various opposition groups. “The decision on rupture of diplomatic relations and the introduction of the transport blockade of Qatar was adopted for the reason that this country has become a haven for opposition groups and movements in the Arab world, especially the groups of political Islam. In addition, these movements were given a voice within the media,” says Egyptian political scientist and former assistant to the Egyptian foreign Minister on issues of relations with the Arab world Hussein Haridi.

The consequences

However, the decision of the countries to break off relations with Qatar have already begun to yield its first results.

According to media reports, six Arab airlines suspended flights to Qatar. So, flights to the capital of Qatar, Doha cancelled Emirates and Etihad Airways (UAE), Saudia (Saudi Arabia), Gulf Air (Bahrain) and Egypt Air (Egypt). According to Reuters, the same decision was made by Flydubai from the United Arab Emirates.

For information on the rupture of diplomatic relations in the course of trading at 8.21 percent collapsed, the stock market index of Qatar QE All Share. Most significantly, shares fell QNA Qatar national Bank – 10 percent.

It is also noted that the diplomatic conflict in the middle East and the terrorist attack in London and major European stock exchanges also showed a negative trend.

Shares of Bank of Qatar have slumped. Photo: AFP

According to media reports, residents of Qatar hastily buy food and drinking water.
“Residents rushed to the nearby grocers, shopping, buying milk, water, rice, eggs. Of products the export of whole machines, shelves are empty immediately after the news of the closure of the borders with Saudi Arabia, through which was a large flow of food,” – said eyewitnesses.

Experts also believe that the situation around Qatar could trigger a rise in oil prices. “The appearance of yet another hotbed of tension, in my opinion, is a serious factor that will support or push prices up. Any deterioration of the situation in the middle East leads to the speculative rise in oil prices,” – said the analyst of “Sberbank CIB” Valery Nesterov.

The international reaction

U.S. Secretary of state Rex Tillerson believes that the diplomatic conflict between the countries of the Persian Gulf “will not have a significant impact on the unity in the fight against terrorism in the region and worldwide”.

“As I understand it, the irritation between the countries-members of the cooperation Council for the Arab States of the Gulf (GCC) has been growing for a long time and has now reached a level where they decided to act, so as to work out their differences, said the Secretary of state, when asked to comment on the gap next to the Gulf of diplomatic relations with Qatar. – We urge all parties to sit down at the negotiating table and resolve their differences. If the US is able to help, we are ready to help. We believe it is important to preserve the unity of the GCC”.

In the Kremlin, in turn, expressed hope that the situation around Qatar will not affect the fight against terrorism, the relevance of which is confirmed, in particular, the recent tragic events in London.

“Russia as an active participant in the overall process of struggle against the international terrorism hopes that this situation will in no way affect the overall attitude and commitment in the fight against terrorism, the relevance and urgency of the alternative of which demonstrate the tragic events, including the recent events that happened in London”, – said the press Secretary of the President Dmitry Peskov.