Gulf crisis threatens Qatar Airways transit business

Qatar Airways on Monday called on the UN's aviation body to declare a Gulf boycott against the carrier "illegal" and a violation of a 1944 convention on global air transport. "I hope so", UAE minister of state for foreign affairs Anwar Gargash wrote on Twitter in reaction to Kuwait saying Qatar was ready to listen to the grievances.

Saudi Arabia's arch-rival Iran on Sunday announced it had sent five planes carrying produce to Qatar.

Sergey Lavrov, the Russian foreign minister, discussed Qatar with U.S. Secretary of State Rex Tillerson in a phone call Saturday.

Among the punitive measures Saudi Arabia and its allies imposed was a ban on Qatar Airways flights and a prohibition of the airline's use of surrounding airspace.

Iranian media, meanwhile, reported that three boats carrying about 350 tons of fruit are to leave for Qatar from the small Iranian port of Dayyer.

"Qatar, Bahrain, Saudi Arabia, the United Arab Emirates and Kuwait are connected to each other with tribes, kinship and marriages". Qatar's sovereign credit strength will be hurt primarily on higher funding costs, while a pick-up in foreign investment outflows would drain foreign-exchange reserves, it said.

Qatar's Interior Ministry said in a statement that nationals of countries that have recently severed diplomatic ties with Qatar are free to remain in the Gulf state in line with existing regulations.

"Our expectation is that these countries will immediately take steps to de-escalate the situation and put forth a good faith effort to resolve their grievances they have with each other", he said. "Now that we are not operating to those 18 [destinations], doesn't mean I'm going to shrink", he said.

Asked whether Qatar might need to raise money by selling off stakes in large Western companies held by its sovereign wealth fund, Emadi indicated this was not on the cards at present.

The move to isolate Qatar followed a visit to Saudi Arabia by US President Donald Trump.

According to Tolo News, A senior Qatari official says Qatar hosted the Taliban based on a request from the United States, whose president, along with a number of Arab regimes, has been pressuring Doha over what they say is its support for extremist groups.

Qatar is a major exporter of gas, supplying just under a third of the UK's imports, but the Gulf crisis could cause tr ansport disruptions, the FT said.

  • Leroy Wright