Moody’s: Qatar crisis a negative for all countries involved

For a moment, it appeared as though it might lead to an opening for resolving the three-month-old dispute that has divided USA allies in the Persian Gulf, with Qatar on one side and a Saudi-led bloc of four countries on the other.

As a result of the Saudi lead bloc voting to enact the restrictions in June, Qatar had seen its only land border closed, a ban on all ships flying its flag from most ports, and a large swathe of the Persian Gulf’s airspace closed to both Qatari aircraft as well as foreign carriers destined for Doha. The public prosecutor reminded them separately on Twitter that “harming the state’s reputation or status” constituted a “terrorist crime”. Qatar has rejected the allegation as “baseless”.

Muraikhi also hailed Iran as an “honorable country”, adding that the Tehran-Doha relations had warmed since the blockade.

Rating agency Moody’s said in a report released Wednesday that the three-month-old diplomatic dispute between Qatar and other Arab states has created uncertainty across the Gulf region and could negatively affect the credit outlook of all the countries involved.

Kuwait has been trying to mediate the dispute.

Saudi Arabia’s Ambassador to Egypt and Permanent Representative to the Arab League Ahmed Qattan said on Tuesday that the actions that have been taken by the four Arab states calling to combat terrorism are sovereign measures due to the wrong policies being pursued by Doha since so many years.

Qatar has explicitly denied providing any support to extremist groups in the region, saying it felt the crisis was politically motivated.

The bitter dispute between Gulf states and Qatar threatened to deepen amid a slanging match between rival ministers over the status of Iran.

Israel’s neighbors in the Middle East continue to sling mud at one another in their quarrel over Qatar.

Egypt’s foreign minister Sameh Shoukry angrily responded to al-Muraikhi during the session, describing his opening speech as “nonsense and unacceptable”.

The exchange then descended into a row between Kattan and Muraikhi, with each telling the other to be quiet.

“This is an improper thing to say because the kingdom of Saudi Arabia will never resort to such cheap methods and we don’t want to change the regime, but you must also know that the kingdom can do anything it wants, God willing”, Kattan said.

The US publication said the IS statement aiming to link Qatar to terrorism was “apparently fake”, reported Al Jazeera.

Leave a Reply

Your email address will not be published. Required fields are marked *