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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

Ahmad Mohamed Al-Sayed, managing director and chief executive officer (CEO) at Qatar Holding, speaks during a news conference at the Qatar Motor Show in Doha, January 26, 2011. Qatar Holding's call for a higher price has threatened to derail commodities trader Glencore's $26 billion bid for miner Xstrata. With assets in excess of $100 billion, Qatar's sovereign fund has built a stake of around 11 percent in Xstrata since February. Picture taken January 26, 2011. To match Factbox QATARHOLDING-INVESTMENTS/

Emir Signals Change by Replacing Head of Qatar Investment Authority

In the second article of a two-part series, the new Qatari emir seeks to separate politics and business.

Members of the Muslim Brotherhood and supporters of deposed Egyptian President Mohamed Mursi shout slogans in front of army soldiers at Republican Guard headquarters in Nasr City, a suburb of Cairo July 8, 2013. At least 51 people were killed on Monday when demonstrators enraged by the military overthrow of Egypt's elected Islamist president said the army opened fire during morning prayers outside the Cairo barracks where Mursi is believed to be held. REUTERS/Amr Abdallah Dalsh (EGYPT - Tags: POLITICS CIVI

Four Reasons Why Iran Wins From Morsi’s Fall

Iran stands to gain regionally from the coup in Egypt.

Madjid Bougherra (R) of Lekhwiya receives the trophy from Qatar's Crown Prince Sheikh Tamim bin Hamad al-Thani at Al-Sadd Stadium after the final match of the Crown Prince Cup soccer tournament against Al-Sadd in Doha May 4, 2013. REUTERS/Fadi Al-Assaad (QATAR - Tags: SPORT SOCCER ROYALS) - RTXZAGP

Will Sheikh Tamim Rebalance Qatar’s Foreign Policy?

In the first article of a two-part series, Qatar’s new emir will likely follow his father's course, but Qatar’s may be forced to adjust its approach to international affairs.

Qatar's Crown Prince Sheikh Tamim Bin Hamad Al Thani smiles during his arrival for an economic ties visit at Khartoum Airport December 4, 2011. REUTERS/Mohamed Nureldin Abdallah (SUDAN - Tags: POLITICS ROYALS BUSINESS) - RTR2UTVY

Israel, Hamas Watching Change of Leaders in Qatar

Israel closely follows the change of leadership in Qatar, and the impact of the change on the Arab Peace Initiative.

Qatar's Emir Sheikh Hamad bin Khalifa al-Thani (R) stands next to his son Crown Prince Sheikh Tamim bin Hamad al-Thani before the Emir Cup final match between Al-Sadd and Al-Rayyan at Khalifa stadium in Doha May 18, 2013. REUTERS/Fadi Al-Assaad (QATAR - Tags: SPORT SOCCER ROYALS POLITICS) - RTXZRXO

Qatar, Middle East 'Market Maker'

Qatar is modeling its foreign policy on a dream to become the Belgium of a Muslim Brotherhood league of states.

U.S. Secretary of State John Kerry (R) meets with Russian Foreign Minister Sergei Lavrov in Paris, May 27, 2013. REUTERS/Jim Young (FRANCE - Tags: POLITICS) - RTX103D0

The Missing Syrian Peace

US Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov are still working on the invitation list for Geneva II.

A Lebanese army soldier is seen atop his tank as an ambulance travels past in Tripoli May 20, 2013. Three people have been killed and about 40 wounded in two days of fighting in Lebanon's northern city of Tripoli, security sources said on Monday, as sectarian violence spilled over from the civil war in Syria. REUTERS/Omar Ibrahim (LEBANON - Tags: POLITICS CIVIL UNREST MILITARY) - RTXZTWK

Syria's Struggle Is Now Lebanon's Struggle

Lebanon's political stability and instability have always depended on external key powers; today, the effect of the Syrian crisis, is no different.

Saudi Arabia King Abdullah bin Abdulaziz (R) meets with Qatari Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor Al Thani (C) and Lebanon's former prime minister Saad al-Hariri at the Royal Palace in Mecca August 13, 2012. REUTERS/Saudi Press Agency/Handout (SAUDI ARABIA - Tags: POLITICS) 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 - R

Saudi-Qatar Honeymoon In Lebanon Is Over

Seemingly eager to turn the regional unrest to their advantage, both Qatar and Saudi Arabia are carefully strategizing their diplomatic efforts in the Mideast.

Qatar's Emir Sheikh Hamad bin Khalifa al-Thani (2nd L) inspects a guard of honour during his ceremonial reception at India's presidential palace Rashtrapati Bhavan in New Delhi April 9, 2012. Sheikh Hamad is on a three-day state visit to India. REUTERS/Stringer (INDIA - Tags: POLITICS) FOR BEST QUALITY IMAGE ALSO SEE: GM1E84H05M001 - RTR30ISQ

The Limits of Asia-Gulf Ties

Gulf-Asian economic relations will likely continue to grow while national security considerations are ignored.

Egyptian Muslim scholar Sheikh Yusuf al-Qaradawi addresses Muslims at Al-Azhar mosque during the weekly Friday prayer in Cairo on December 28, 2012. People demonstrated outside the Al-Azhar mosque in support of the Syrian people and against Syria's President Bashar al-Assad. AFP PHOTO/MAHMUD HAMS (Photo credit should read MAHMUD HAMS/AFP/Getty Images)

The Extent and Limits Of Qatar-Hamas Ties

Qatar and Hamas ties fluctuate between strategy and tactics.

Syrians wait to cross back into Syria at the Turkish Cilvegozu border, opposite the Syrian commercial crossing point Bab al-Hawa, in Reyhanli, Hatay province, May 14, 2013. REUTERS/Umit Bektas (TURKEY - Tags: POLITICS CIVIL UNREST) - RTXZLW2

No 'Good Guys' Or 'Bad Guys' in Syria

Saudi Arabia and Qatar need to support a diplomatic outcome in Syria.

Palestinian President Mahmoud Abbas (front R) and Qatar's Prime Minister Hamad bin Jassim bin Jabr Al-Thani arrive at a meeting of the Arab Peace Initiative Committee in Doha April 8, 2013. REUTERS/Mohammed Dabbous (QATAR - Tags: POLITICS) - RTXYDPI

Fatah Would Accept Land Swaps With Israel

Despite the fiery reaction from some Palestinian circles, the concept of land swaps with Israel has long been accepted by the Palestinian Authority.