Gulf Crisis Opportunity to Sway both Saudi and Qatar

Tillerson Meets With Qatari, Kuwaiti Envoys on Gulf Crisis

Qatar is known as the world's richest countries which is a producer of liquefied natural gas.

Many own assets worth millions of dollars in neighbouring Saudi Arabia and the United Arab Emirates, including hotels, residential property and farmland. This means there is no immediate majority to be had in favour of excluding Qatar, in an organisation oriented towards consensus. On Tuesday, Saudi Arabia stressed that these demands are non-negotiable. While the Trump administration could ignore the existing protocol of seeking Corker's approval, the senator's letter shows that significant sections of the United States political establishment regard the conflict between American allies in the Gulf as a disaster.

"We just want to live out our days, to go to Saudi Arabia and take care of our camels and go back and take care of our family", said one Qatari shephard, cited by Reuters.

"There are certain economic sanctions that we can take which are being considered right now".

"We do not support terrorism, we do not interfere in the internal affairs of our neighbors, and we are not secret allies of Iran", al Thani said, according to the statement, which added that Qatar was committed to defeating Daesh. Though Saudi demands of Doha are maximalist, if the Qataris are willing to meet them - expelling extremist actors, bringing the state-funded Al Jazeera to heel, distancing themselves from Iran and cutting support to radical jihaist groups - the situation can be retrieved.

All of this leaves the U.S.in a hard spot - torn between crucial allies who are no closer to an agreement despite weeks of public pressure, and some mixed messages, from the administration. The index is now at a 12-month forward price-to-earnings ratio of about 13 times, against 15 times for Saudi Arabia - though it is still well above Dubai's 9.5 times.

The threat to halt arms sales would not apply to deals already approved but could affect the $110 billion package of offensive weapons to Saudi Arabia that was agreed during Trump's trip to Riyadh last month. Do they forget that in 9/11 terrorist attacks there were eleven Saudi attackers among the terrorists?

Saudi Foreign Minister Adel al-Jubeir said on Tuesday that there would be no negotiations over demands by the kingdom and other Arab states for Qatar to stop supporting terrorism.

It has also said it has monitored several serious violations against Qatari students in the three countries - especially in the UAE. There are many vague ideas, but who has the crystal-clear answer we don't really know.

A Saudi-led bloc is considering fresh sanctions against Qatar that may include asking trading partners to choose between them or Doha, the United Arab Emirates (UAE) ambassador to Russian Federation said.

Platts said it will continue to monitor events in the Middle East crude markets and is ready to renew its review of any crude stream deliverable into the Dubai and Oman benchmarks.

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