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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

A man stands outside Qatar Airways office in Riyadh, Saudi Arabia, June 5, 2017. REUTERS/Faisal Al Nasser - RTX392F7

Saudi-Qatar rift could benefit Israel

Israeli officials estimate that the Saudi-Qatar rift could strengthen the Israeli-Saudi alliance against regional Islamic terror.

A U.S. Air Force B-52 Stratofortress bomber arrives 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/Tech. Sgt. Terrica Y. Jones/Handout via Reuters THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. FOR ED

US urges dialogue to ease Qatar crisis

Diplomats hope mediation will cool diplomatic crisis between Qatar and its Gulf rivals.

An Iranian man walks past a Qatar Airways branch in the capital Tehran on June 6, 2017.
A ban on Qatari flights imposed by Saudi Arabia and its allies took effect as first efforts were made to resolve the biggest feud to hit the Arab world in years. Saudi Arabia and allies including Egypt, the United Arab Emirates and Bahrain cut diplomatic ties and transport links with Qatar on Monday, accusing the Gulf state of supporting extremism.
/ AFP PHOTO / ATTA KENARE (Photo credit should read ATTA KENARE/A

Iranians debate whether to take advantage of Qatar crisis

The crisis surrounding Qatar has caught the attention of Iranian media, with debate emerging about whether to take advantage of Doha’s isolation from its Arab neighbors.

Turkish Prime Minister Binali Yildirim (C) arrives to welcome Qatar's Prime Minister Abdullah bin Nasser bin Khalifa Al Thani (Unseen) before their meeting at Cankaya Mansion in Ankara, on September 8, 2016. / AFP / ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/Getty Images)

Turkey can't afford to take sides in Qatar crisis

A rattled Ankara is trying to keep to the middle ground in the crisis around its ally Qatar, but its soft calls for dialogue are unlikely to have much impact.

Hamas leader Khaled Meshaal gestures as he announces a new policy document in Doha, Qatar, May 1, 2017. REUTERS/Naseem Zeitoon - RTS14OTL

New 'rules of the game' for Israeli-Hamas standoff

The expulsion from Qatar of Hamas leaders and the movement's reconciliation with Iran has potentially changed the "rules of the game" between Israel and Hamas.

The curious timing of the Qatar crisis

The latest Middle East crisis, the rift between Qatar and its Gulf Cooperation Council partners, has come at a sensitive time for the Gulf states.

Qatari Crown Prince Sheikh Tamim bin Hamad bin Khalifa al-Thani (R) and Turkish President Recep Tayyip Erdogan (2ndL), walk past a guard of honor during an official welcoming ceremony prior to their meeting at the presidential palace in Ankara, Turkey, on December 19, 2014. AFP PHOTO / ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/Getty Images)

Ankara's paranoia spikes as Qatar shunned

The news that five Arab countries have cut ties with Qatar, its close regional ally, has rattled Turkey, which depends on its political, military and business ties with Qatar.

United Arab Emirates

Qatari Crown Prince Sheikh Tamim bin Hamad bin Khalifa al-Thani (2ndL) and Turkish President Recep Tayyip Erdogan (L), walk past a guard of honor during an official welcoming ceremony prior to their meeting at the presidential palace in Ankara, Turkey, on December 19, 2014. AFP PHOTO / ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/Getty Images)

Qatari money increasingly important for Turkey

Growing ties with Qatar have become a hallmark of Turkish regional policy under the Justice and Development Party, with the two countries now readying to establish a joint wealth fund.

U.S. President Donald Trump (4-L) speaks with Oman's Deputy Prime Minister Fahd bin Mahmoud Al-Said (3-L) during a family photo with Gulf Cooperation Council leaders at their summit in Riyadh, Saudi Arabia May 21, 2017. REUTERS/Jonathan Ernst - RTX36TI7

In wake of Trump visit, Saudi-led Sunni bloc already splintering

Less than two weeks after Trump's summit in Saudi Arabia, "Arab NATO" is showing signs of division due to fears of widening the regional political divide and doubts over Washington's reliability.

'Fake news' sparks real crisis in the Gulf

Controversial statements reported by Qatar's state news agency and later attributed to a hack have revealed deep tension among members of the Gulf Cooperation Council.

Turkish Prime Minister Binali Yildirim (R) shakes hands with Qatar's Prime Minister Abdullah bin Nasser bin Khalifa Al Thani before their meeting at Cankaya Mansion in Ankara, on September 8, 2016. / AFP / ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/Getty Images)

If push comes to shove, will Turkey defend Qatar against Iran?

Turkey's main opposition party has lots of questions about what message Ankara would be sending to Iran, and others, by deploying troops in Qatar.

Palestinians attend a rally marking the 29th anniversary of the foundation of the Islamic Jihad movement in Gaza City October 21, 2016. REUTERS/Suhaib Salem - RTX2PVA3

Where does Hamas' policy document leave Islamic Jihad?

Despite strong bilateral ties, differences over the new policy document emerged between Hamas and Islamic Jihad, raising questions on the future of their relations.