March 24, 2018

Foreign funds bolster Qatar, Saudi edges up

04 July 2017, 12:35 | Leigh Flowers

Saudi king orders newspaper columnist to stop piling on the praise

Theresa May sitting on report on foreign funding of UK extremists

Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt agreed to extend the deadline after Kuwait's government urged them to do so late Sunday, the Kuwait News Agency reported.

Qatar's Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani said that the 13 demands from Saudi Arabia and several of its allies were created to be spurned.

Meanwhile, Egypt on July 2 said its foreign minister and his counterparts from Saudi Arabia, the U.A.E., and Bahrain will meet in Cairo on July 5 "to follow up on the developing situation regarding relations with Qatar".

On Monday morning it was announced that Riyadh and its allies extended by 48 hours the deadline for Qatar to accept their list of demands.

"To those who demand that Al Jazeera be shut down and that people's right to the truth be suppressed, we too have demands", said key Al Jazeera presenters and reporters.

It is not yet clear what further sanctions could be imposed on Doha, but commercial bankers in the region believe that Saudi, Emirati and Bahraini banks might receive official guidance to pull deposits and interbank loans from Qatar.

Among the six Gulf Cooperation Council states, Kuwait and Oman did not join the anti-Qatar blockade and the Kuwaiti leadership has been communicating with all parties of the crisis to reach a solution.

In recent years, following the severing of ties with Iran, Sudan has developed close relationship with Saudi Arabia and the United Arab Emirates have invested $30 billion in Sudan mainly in agricultural projects.

Mr Al Jubeir has said the 13 demands are non-negotiable, while Sheikh Mohammed said on Saturday that the demands were created to be rejected and that Doha would not agree to any measure that infringed on its sovereignty.

"As for the countries that accuse Qatar of financing terrorism, they have the same problems as Qatar, more so, they are on top of the list in that area, " he said.

Doha has said it is ready for talks to end the crisis and Kuwait, which unlike most of its GCC neighbours has not cut ties, has taken the lead in mediation efforts.

Qatar, which shares its only land border with Saudi Arabia, has rejected the accusations, calling them "unjustified" and "baseless".

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