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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

Oman's Interior Minister Saud bin Ibrahim al-Busaidi attends the Gulf Cooperation Council (GCC) Interior Ministers' Conference in Manama November 28, 2013. REUTERS/Stringer (BAHRAIN - Tags: POLITICS) - RTX15WB1

Omani rejection of GCC union adds insult to injury for Saudi Arabia

The Omani stance may force the kingdom to pause in its regional policies.

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Correcting misconceptions of the Gulf’s modern art movement

Contrary to what some may believe, a vibrant indigenous visual arts tradition does exist in the Gulf.

United Arab Emirates

Syria's President Bashar al-Assad answers journalists after a meeting at the Elysee Palace in Paris, December 9, 2010. REUTERS/Benoit Tessier (FRANCE - Tags: POLITICS) - RTXVKF9

Syria's temporary solution

As preparations for the Geneva II Syria conference stall, some suggest that a temporary solution could be in the works, aimed at keeping President Bashar al-Assad in office, but without elections.

Fans of the Egypt team celebrate during their World Cup 2014 African zone qualifying soccer match against Ghana at the Baba Yara Sports Stadium in Kumasi October 15, 2013. REUTERS/Luc Gnago (GHANA - Tags: SPORT SOCCER) - RTX14CVU

Egypt-Qatar Relations Sour Over World Cup Broadcast Rights

Qatar’s ties with Egypt have been further strained by a dispute over broadcast rights for soccer matches.

A U.N. vehicle returns to a hotel where experts from the Organisation for the Prohibition of Chemical Weapons (OPCW) are staying, in Damascus October 11, 2013. The global chemical weapons watchdog charged with overseeing destruction of Syria's chemical weapons stockpile during a civil war won the 2013 Nobel Peace Prize on Friday. The Organisation for the Prohibition of Chemical Weapons (OPCW), a relatively small organisation with a modest budget, dispatched its experts after a sarin gas attack killed more t

Is Saudi Arabia Holding Up The Geneva II Conference on Syria?

While Turkey may be shifting its Syria policy in response to domestic and international pressure, Saudi Arabia appears to be digging in to oppose the trend toward a diplomatic solution.

A general view shows Dubai's cityscape September 24, 2013. Dubai's government is working on new rules to protect its real estate market and prevent any excessive rise of property prices that could end in a crash, a senior official said on Tuesday. REUTERS/Ahmed Jadallah (UNITED ARAB EMIRATES - Tags: REAL ESTATE BUSINESS CITYSCAPE) - RTX13Y0C

Gulf Cities Emerge As New Centers of Arab World

While historic Arab capitals such as Cairo, Baghdad and Damascus are embroiled in civil strife, Gulf cities are powering ahead as new centers for Arab culture, education and business.

United Arab Emirates

Hamas leader Khaled Meshaal looks at his watch before his interview with Reuters in Doha November 29, 2012. Meshaal said the de facto recognition of a sovereign Palestinian state won by his rival Mahmoud Abbas should be seen alongside Gaza's latest conflict with Israel as a single, bold strategy that could empower all Palestinians. Meshaal said the short war which claimed 162 Palestinian lives and five Israelis was concluded on terms set by the Palestinian Islamist movement and ended its isolation, creating

Hamas Activists Accuse Meshaal Of Preferring Life in Exile

Rumors about Hamas Chief of Political Bureau Khaled Meshaal leaving Qatar for Beirut have sparked criticism within the movement toward those exiled leaders who refuse to return to Gaza.

Hamas leader Khaled Meshaal uses his mobile phone in his office in Doha November 29, 2012. Meshaal said the de facto recognition of a sovereign Palestinian state won by his rival Mahmoud Abbas should be seen alongside Gaza's latest conflict with Israel as a single, bold strategy that could empower all Palestinians. Meshaal said the short war which claimed 162 Palestinian lives and five Israelis was concluded on terms set by the Palestinian Islamist movement and ended its isolation, creating a new mood that

Hamas Says Meshaal Not Leaving Qatar

Hamas senior officials have flatly rejected media reports that leader Khaled Meshaal is severing ties with Qatar.

Labourers work near the Burj Khalifa, the tallest tower in the world, in Dubai May 9, 2013. REUTERS/Ahmed Jadallah (UNITED ARAB EMIRATES - Tags: BUSINESS CONSTRUCTION) - RTXZFXJ

Debate on Gulf Migrant Workers Misses the Point

Media reports on the Arab Gulf states concerning migrant workers often fail to frame the bigger picture.

A portrait of Syria's President Bashar al-Assad is affixed on a door in old Damascus, September 8, 2013. REUTERS/Khaled al-Hariri (SYRIA - Tags: POLITICS CONFLICT CIVIL UNREST) - RTX13D2N

How Lucky Is Syria’s President?

Bashar al-Assad knows that despite a brutal war, his allies have his back and his opposition is fractured — and also that the end of his regime does not mean the end of the war in Syria.

Supporters of Egypt's deposed Islamist President Mohamed Mursi pray during a rally in protest against the recent violence in Egypt, in Sanaa August 16, 2013. Protests by Mursi supporters turned violent across Egypt on Friday, with witnesses reporting four dead in central Cairo and at least 12 killed in northern cities as the Muslim Brotherhood staged a "Day of Rage". REUTERS/Khaled Abdullah (YEMEN - Tags: POLITICS CIVIL UNREST RELIGION) - RTX12NKO

Qatar Encroaches on Saudi Influence In Yemen

As elsewhere in the Middle East post-Arab Spring, Qatar and Saudi Arabia are vying for influence in an unstable and economically weak Yemen.

A protester opposing Egyptian President Mohamed Mursi holds a sign reading "Depart" near riot police during a protest against the new judicial law in front of Egypt's Shura Council in Cairo May 25, 2013. Egypt's highest court ruled on Saturday that parts of a revised election law setting out terms for a parliamentary election were unconstitutional, casting fresh doubt over a poll that has already been delayed. The Shura Council has approved, Saturday, the referral of the contentious amendment proposal of th

Is the Middle East Rejecting Radicalism?

The world should not miss the opportunity for stablility and progress offered by the Middle East's rejection of radicalism.