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August 8, 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

An American made Patriot missile launcher of the Kuwait Air Force, used
to shoot down incoming ballistic missiles, is deployed in an undated
file photograph. A U.S. Patriot missile battery may have engaged a
British Royal Air Force aircraft near

the Kuwaiti border on Sunday, a Pentagon spokesman said. REUTERS/Kuwait
Ministry of Defence - RP3DRINEPZAA

Congress nudges Trump toward Gulf missile defense

Congress is trying to revive US-led talks for a GCC-wide missile shield against Iran that have stalled amid tensions with Qatar.

Detained Egyptian journalist receives UNESCO award

UNESCO's decision to grant the Guillermo Cano World Press Freedom Prize to detained photojournalist Mahmoud Abu Zeid, known as Shawkan, has sparked anger among Egyptian authorities.

Iranian Foreign Minister Mohammad Javad Zarif attends a meeting with his Russian counterpart Sergei Lavrov in Moscow, Russia January 10, 2018. REUTERS/Alexander Zemlianichenko/Pool? - UP1EE1A1NCZOZ

Iran’s FM says Qatar 'brought Saudi Arabia to its knees'

Iran’s foreign minister slams the Saudi crown prince over his approach to foreign policy in a speech at a top Tehran university.

Birds fly on a foggy day near the Dome of the Rock, located in Jerusalem's Old City on the compound known to Muslims as Noble Sanctuary and to Jews as Temple Mount, Jerusalem, January 2, 2018. REUTERS/Ammar Awad - RC1FAC4E2C00

Will Israel accept UAE donations to East Jerusalem?

Former Fatah member Mohammed Dahlan appears to have caught Israel by surprise with an announcement of a $70 million donation from the UAE for the Palestinian residents of East Jerusalem.

United Arab Emirates

U.S. President Donald Trump meets with Qatar's Emir Sheikh Tamim bin Hamad al-Thani in New York, U.S., September 19, 2017. REUTERS/Kevin Lamarque - RC1EC612CAF0

Qatar hires Trump-linked lobbyist ahead of emir’s visit

Doha is turning to well-connected Republican operatives amid an intra-Gulf spat.

Egypt struggles to edge Qatar out of Palestine

Egypt is trying to block Qatar from the Palestinian scene, but Israel is unlikely to be moved by its efforts, counting on the Qatari assistance that has helped avoid a humanitarian crisis.

Russia, Qatar explore partnership potential

Qatar and Russia both stand to benefit in the Middle East from closer relations: Russia needs Arab street cred and Qatar needs all the friends it can get.

The Homer Ferrington gas drilling rig, operated by Noble Energy and drilling in an offshore block on concession from the Cypriot government, is seen during President Demetris Christofias' visit in the east Mediterranean, Nicosia November 21, 2011. REUTERS/Cyprus Public Information Office/Handout/File Photo FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS

Erdogan stays silent on Qatar amid Cyprus gas row

Amid an escalating dispute over gas exploration off Cyprus, observers in Turkey are perplexed about why Ankara is sparing Qatar while harshly reacting to other countries and companies cooperating with the Greek Cypriots.

FILE PHOTO: A combination photo shows U.S. Secretary of State Rex Tillerson (L) in Addis Ababa, Ethiopia, March 8, 2018, and Central Intelligence Agency (CIA) Director Mike Pompeo on Capitol Hill in Washington, DC, U.S., February 13, 2018 respectively. REUTERS/Jonathan Ernst (L) Aaron P. Bernstein (R) - RC1850892B00

Pompeo pick pleases Abu Dhabi

United Arab Emirates officials see a shift at the US State Department in their favor, but are unlikely to see all their hopes realized under Mike Pompeo.

WASHINGTON, DC - FEBRUARY 13: Central Intelligence Agency Director Mike Pompeo testifies before the Senate Intelligence Committee in the Hart Senate Office Building on Capitol Hill February 13, 2018 in Washington, DC. The intelligence chiefs were called to testify to the committee about 'world wide threats.' (Photo by Chip Somodevilla/Getty Images)

State Department shake-up leaves Qatar hanging

President Trump’s ouster of Secretary of State Rex Tillerson knocks out a leading champion for resolving the monthslong Qatar crisis in the Persian Gulf.

Saudi crown prince comes to Washington

Saudi Crown Prince Mohammed bin Salman is coming to Washington to shore up support at a time when the situation at home and in the United States is more complicated than ever.

Head of the Hamas government in the Gaza Strip, Ismail Haniya (R), meets with the head of a Qatari delegation Mohammed al-Emadi in Gaza City on September 25, 2012, where a number of projects included in the Qatari grant for the reconstruction of Gaza are expected to be launched. AFP PHOTO/MOHAMMED ABED (Photo credit should read MOHAMMED ABED/AFP/GettyImages)

Hamas entangled in regional polarization

While Hamas welcomed the recent statements made by Qatari Ambassador Mohammed al-Emadi regarding support for the Gaza Strip, it denounced Saudi Foreign Minister Adel al-Jubeir’s accusation that Hamas is an extremist movement, which shows a new alignment in the region.