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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

How new joint US-GCC sanctions will impact Qatar crisis

After Qatar joined Saudi Arabia and the United States in imposing new sanctions on individuals suspected of financing terror groups in Yemen, it will be harder for the GCC states involved in the blockade of Qatar to make their case to Washington.

Israel may regret hasty UNESCO exit

Israel reacted quickly to the US announcement that it was pulling out of UNESCO with one of its own, potentially forfeiting an opportunity to shore up its international presence.

Qatari crisis seeps into UNESCO elections

The Qatari crisis has cast a shadow across the election of UNESCO's next director-general with competing candidates from Egypt and Qatar.

A U.S. Air Force B-52 Stratofortress bomber from Barksdale Air Force Base, Louisiana, touches down at Al Udeid Air Base, Qatar, April 9, 2016. The U.S. Air Force deployed B-52 bombers to Qatar on Saturday to join the fight against Islamic State in Iraq and Syria, the first time they have been based in the Middle East since the end of the Gulf War in 1991. REUTERS/U.S. Air Force/Staff Sgt. Corey Hook/Handout via Reuters THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED B

US Air Force says Qatar blockade has 'no impact' on American base

The United States is flying more missions out of al-Udeid than before the Saudi-led embargo.

Bahrain's King Hamad bin Isa Al Khalifa (R) speaks to British Prime Minister Theresa May (L) during the first Gulf Cooporative Council's (GCC) " GCC British Summit", in Sakhir Palace Bahrain, December 7, 2016. REUTERS/Hamad I Mohammed - RC1FD09BAAF0

Bahrain goes public with shifting stance on Israel

The statement by Bahraini King Hamad bin Isa Al Khalifa condemning the Arab boycott on Israel publicly exposes the state’s change of attitude toward Israel and the ongoing contact between the two countries.

Senior Iranian diplomat: US is serious about killing nuclear deal

The head of Iran’s Strategic Council on Foreign Relations warns that the US administration is serious in its efforts to kill the nuclear deal.

Saudi Arabia's Foreign Minister Adel al-Jubeir gestures during a news conference after an extraordinary meeting of the foreign ministers of the Gulf Cooperation Council (GCC), in Riyadh January 9, 2016. REUTERS/Faisal Al Nasser - GF20000088982

Is Saudi Arabia 'ready to turn page' on Iran?

A shifting regional landscape may force a reset in Riyadh and Tehran; armed groups backed by the United States and Turkey battle outside Aleppo.

As Qatar-Bahrain rift widens, economic costs emerge

Qatar’s economic and geopolitical separation from Bahrain and other GCC states will come with economic costs.

Qatar's foreign minister Sheikh Mohammed bin Abdulrahman al-Thani shakes hands with Russia's foreign minister Sergey Lavrov after a joint news conference in Doha, Qatar August 30, 2017. REUTERS/Naseem Zeitoon - RC1DD95787D0

Why Russia seeks to stay neutral in Saudi-Qatar rift

Russia's offer to mediate in the Qatar crisis is a strategic move designed to place Moscow in the catbird seat without endangering relations with either side.

Qatar's foreign minister Sheikh Mohammed bin Abdulrahman al-Thani (R) and U.S. Secretary of State Rex Tillerson attend a joint news conference in Doha, Qatar, July 11, 2017. REUTERS/Naseem Zeitoon - RTX3B08M

Iran’s role in Qatar’s new foreign policy

Rather than forcing Qatar to sever ties with Tehran, the Saudi-led boycott on Qatar has instead pushed the emirate closer to Iran.

Palestinians sit in a tent outside their apartments, which witnesses said were destroyed in an Israeli offensive, during a 72-hour truce in Beit Lahiya town in the northern Gaza Strip August 11, 2014. Israeli and Palestinian negotiators resumed indirect talks mediated by Egypt on Monday on ending a month-old Gaza war, Egypt's state news agency said, after a new 72-hour truce appeared to be holding. REUTERS/Suhaib Salem (GAZA - Tags: POLITICS CIVIL UNREST) - RTR4214M

UAE, Egypt approve more aid for Gaza, Hamas

It looks like support is on the way for destitute Gaza via the UAE and Egypt.

United Arab Emirates

Russian Foreign Minister Sergei Lavrov (R) shakes hands with his Egyptian counterpart Sameh Shoukry during a joint press conference following their meeting in Moscow, on March 16, 2016. AFP PHOTO / VASILY MAXIMOV / AFP / VASILY MAXIMOV (Photo credit should read VASILY MAXIMOV/AFP/Getty Images)

Moscow, Cairo discuss boosting ties

Representatives of Russia and Egypt seemed pleased with the outcome of their meetings this week, as they touched base on current regional developments and talked through their perspectives.