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August 7, 2026

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Explainer

Qatar launches diamond exchange as Hormuz crisis chokes LNG exports

Qatar's new diamond exchange is an effort to diversify from the country's main exports, LNG and petroleum products, which have been severely cut as a result of the Iran war and the Strait of Hormuz crisis.

A ship sails off the coast of Ajman on July 10, 2026.

Interview

Why Strait of Hormuz no longer rattles oil markets as much: IMF

The fund's Middle East director, Jihad Azour, told Al-Monitor that the big Gulf energy producers now have more capacity to absorb the shock.

Jihad Azour

Jihad Azour

Director of the Middle East and Central Asia Department at the International Monetary Fund

Latest News

Oil soars more than 6% as Trump rules out Iran deal, threatens more strikes

A cargo ship is pictured off coast of the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in Sharjah Emirate, along the Gulf of Oman on June 28, 2026.

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Karen Young

In Washington, DC, reporting on regional energy

Reve Chaaban

In Doha reporting on culture

Iranian Foreign Minister, Mohammad Javad Zarif, speaks during a news conference with Iraqi Foreign Minister Mohamed Ali Alhakim in Baghdad, Iraq May 26, 2019. REUTERS/Khalid Al-Mousily - RC1CB4BEB750

What was behind regional tour of Iranian foreign minister?

Iranian Foreign Minister Mohammad Javad Zarif goes to Kuwait and Qatar to promote dialogue, perhaps because opportunities that once developed through Oman may no longer be as fruitful as they once were.

DOHA, QATAR - NOVEMBER 15: President of Turkey Recep Tayyip Erdogan poses for a photo with soldiers during his visit at the Qatari-Turkish Armed Forces Land Command base in Doha, Qatar on November 15, 2017. (Photo by Kayhan Ozer/Anadolu Agency/Getty Images)

Turkey’s military base in Qatar to expand with air, naval elements

Turkey and Qatar have agreed to expand the Qatar-Turkey Combined Joint Force Command in Doha with aerial and naval components as stakes grow higher in the Gulf region.

A girl drinks water from a tap inside a refugee camp in Baghdad September 27, 2007. About 70 families lived in a refugee camp after they were displaced from their homes because of the sectarian violence, the Red Crescent organization said. REUTERS/Mahmoud Raouf Mahmoud (IRAQ) - GM1DWGBBQSAA

Geopolitics delay action while climate change threatens to parch Mideast

The Middle East and North Africa region faces serious water risks, but experts say the collective action needed to address the problem is still far off.

Will Dahlan party bust Fatah-Hamas duopoly?

Dismissed Fatah leader Mohammed Dahlan is reportedly working to form a new Palestinian political party with backing from Egypt and the United Arab Emirates.

United Arab Emirates

Why US companies seek role in Egyptian oil sector

The Egyptian oil and natural gas market is witnessing a significant expansion of US companies and although some observers are concerned about this expansion, most agree that this reflects the stability and neutrality of the Egyptian market and is in its favor in the near and long terms.

Israel and Hamas agree: Gaza to soon get new hospital

Israel and Hamas are on the same page for a change, with the two agreeing on the erection of a field hospital near the Erez crossing to enable international medical teams to help address some of the health care problems plaguing Gaza residents.

Defense Secretary nominee Mark Esper testifies before a Senate Armed Services Committee hearing on his nomination in Washington, U.S. July 16, 2019. REUTERS/Erin Scott - RC14D3AE8B30

Trump’s defense pick calls for US-led pact to deter Iran

Army Secretary Mark Esper, auditioning for the Pentagon’s top job Tuesday, called on allies to join the United States in fighting Iranian malfeasance in the Gulf.

Qatar to fund Gaza's new industrial zone

The Israeli blockade has crippled Gaza's exports, but a new industrial zone funded by Qatar in Gaza might alleviate the coastal enclave's financial burdens.

Qatar, Jordan to appoint new ambassadors following diplomatic row

Jordan and Qatar are set to appoint their respective ambassadors to Amman and Doha after more than two years of diplomatic row.

Gulf states divided in approach to Iran-US escalation

Not having faced a direct threat from Iran in the last few decades, the position of Oman, Kuwait and Qatar in the current tensions with Iran is that of peaceful negotations, rather than military intervention.

Is Qatar still Turkey’s foul-weather friend?

Qatar’s friendship is being called into question in Turkey amid disappointment over Doha’s pledges of economic support and signs that Qatari investors are pulling out of the country.

How Qatar's grant to Gaza gives Israel leverage

Israel is reducing the number of beneficiaries of a Qatari cash grant in the Gaza Strip intended to help the needy.