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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

Hamas leader Khaled Meshaal talks during a news conference in Doha July 23, 2014. Meshaal said he was ready to accept a humanitarian truce in Gaza where the Islamist group is fighting an Israeli military offensive, but would not agree to a full ceasefire until the terms had been negotiated. REUTERS/Stringer (QATAR - Tags: POLITICS CIVIL UNREST CONFLICT) - RTR3ZVSR

Hamas denies Qatar is pushing it to leave

Hamas officials have strenuously denied news reports that Qatar might extend its decision to expel Muslim Brotherhood leaders to include Hamas leaders residing in Doha.

Nuns hold candles during a candle-lit vigil at the Balamand Monastery in Koura, near the north Lebanese city of Tripoli, to call for the release of bishops kidnapped in northern Syria two months ago, June 22, 2013. Greek Orthodox Patriarch John Yazigi led the candle-lit vigil on Saturday for Greek Orthodox archbishop Paul Yazigi and Syriac Orthodox archbishop Yohanna Ibrahim, appealing to their kidnappers to free them and urging Syrian security forces to do more to win their release. REUTERS/Omar Ibrahim (L

Qatar foreign minister believes abducted bishops still alive

Qatar’s Foreign Minister Khalid al-Attiyah said that he has obtained information that two bishops kidnapped in Syria last year are still alive.

Hezbollah supporters wave Lebanese, Syrian, Palestinian and Hezbollah flags as they listen to their leader Sayyed Hassan Nasrallah addressing his supporters during a rally to mark "Quds (Jerusalem) Day" in Beirut's southern suburbs July 25, 2014. REUTERS/Sharif Karim (LEBANON - Tags: POLITICS CIVIL UNREST RELIGION) - RTR4056R

Gaza war brings Hamas, Hezbollah closer

The war on Gaza offers an opportunity to renegotiate the strategic relationship between Hamas and Hezbollah, whose relationship has been severed over the past three years, providing major obstacles can be overcome.

Qatar's Emir Sheikh Tamim bin Hamad al-Thani reviews honour guards during a welcoming ceremony at Algiers airport April 2, 2014. REUTERS/Louafi Larbi (ALGERIA - Tags: POLITICS) - RTR3JOO5

UAE tries to scuttle Qatar-Saudi reconciliation

There are signs that ties between Qatar and Saudi Arabia are improving, but the United Arab Emirates is maintaining a hard-line position on Doha, threatening Gulf reconciliation.

Does Iran benefit from Gaza crisis?

Iran reconsiders Hamas ties; Israeli Prime Minister Benjamin Netanyahu’s fixation on Iran may have distracted him from the threat from Hamas; Asmaa Al-Ghoul reports from Gaza; the Islamic State offers no support for Hamas.

U.S. Secretary of State John Kerry (C), speaks with Qatari Foreign Minister Khaled al-Attiyah (R) and Turkish Foreign Minister Ahmet Davutoglu before they make statements to reporters during their meeting regarding a cease-fire between Hamas and Israel in Gaza, in Paris July 26, 2014. REUTERS/Charles Dharapak/Pool (FRANCE - Tags: POLITICS) - RTR407H7

Israeli officials: United States chose Qatar over us

The Israeli leadership estimates that the cease-fire initiative of US Secretary of State John Kerry responds well to the interests of Qatar, Turkey, Hamas and its own interests with Qatar — but hardly addresses Israel's security needs.

U.S. Secretary of State John Kerry (L), Qatari Foreign Minister Khaled al-Attiyah (R) and Turkish Foreign Minister Ahmet Davutoglu take part in discussions regarding a cease-fire between Hamas and Israel in Gaza, at the Turkish ambassador's residence in Paris July 26, 2014. REUTERS/Charles Dharapak/Pool (FRANCE - Tags: POLITICS CIVIL UNREST) - RTR407S7

Turkey, Qatar seek foothold in Gaza talks

Turkey and Qatar, having alienated regional powers with their support of Hamas, are finding it hard to gain influence in Gaza cease-fire negotiations.

A general view shows the newsroom at the headquarters of the Qatar-based Al Jazeera English-language channel in Doha February 7, 2011. The Egyptian crisis may provide the news channel its best chance yet to capture a larger share of the U.S. audience. REUTERS/ Fadi Al-Assaad (QATAR - Tags: MEDIA BUSINESS) - RTXXKR0

Al Jazeera's Israel problem

Al Jazeera's interviews with Israeli spokespeople are nothing more than a fig leaf, as its coverage of the conflict is far from neutral.

U.S. Secretary of State John Kerry speaks to reporters after meeting Palestinian President Mahmoud Abbas in the West Bank city of Ramallah July 23, 2014. Israeli forces pounded Gaza on Wednesday, meeting stiff resistance from Hamas Islamists and sending thousands of residents fleeing, as Kerry said on his visit to Israel ceasefire talks had made some progress. Israel launched its offensive on July 8 to halt missile salvoes by Hamas and its allies, struggling under the weight of an Israeli-Egyptian economic

New moves by Saudi Arabia, Qatar signal drive for cease-fire

Regional capitals are seeing intense diplomatic activity, while regional powers and Washington agree on the need to end the war in Gaza as soon as possible.

Hamas leader Khaled Meshaal (L) sits beside senior Fatah leader Jibril Rajoub during the wake for Ata Abbas, the older brother of Palestinian President Mahmoud Abbas ,at al-Yarmouk camp near Damascus January 4, 2011. Atta Abbas, approximately 80 years old, died on Sunday of natural causes, according to a Hamas official. REUTERS/Hamas/Handout (SYRIA - Tags: POLITICS OBITUARY) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS D

Hard-line Fatah leader in running to succeed Mahmoud Abbas

Senior Fatah official Jibril Rajoub has taken a harsher stance toward Israel throughout the tensions surrounding the murder of Israeli and Palestinian teenagers.

Secretary-General Hassan Al-Thawadi (C) of Qatar's Supreme Committee for Delivery and Legacy, the nation's 2022 World Cup organising committee, speaks during a news conference to announce the start of work on the Al-Khor Stadium in Al-Khor June 21, 2014. REUTERS/Mohammed Dabbous (QATAR - Tags: SPORT BUSINESS CONSTRUCTION SOCCER) - RTR3UZO5

Qatar's annus horribilis

Qatar has taken a sharp turn in fortune in the past year, going from influential regional power to almost complete isolation.

Troops and vehicles from the national army in Kufra, are seen taking part in a "Operation Dignity" mission, at the Libyan-Egyptian border, near Kufra, June 5, 2014. The operation, a self-declared campaign launched by former Libyan army officer Khalifa Haftar, is conducted against Islamist militants by irregular forces - a mixture of a mixture of militias, regular army and air force units - loyal to Haftar. Picture taken June 5, 2014. REUTERS/Stringer (LIBYA - Tags: CIVIL UNREST POLITICS MILITARY) - RTR3SQND

Hifter accuses Turkey of supporting terror in Libya

Retired Libyan rebel Gen. Khalifa Belqasim Hifter's accusation is another sign of Turkey's deepening isolation in Arab politics.