We are aware that some of the GCC and surrounding countries have broken diplomatic ties with Qatar with immediate effect. These include Saudi Arabia, Bahrain, Egypt, the United Arab Emirates, Yemen, Libya and the Maldives. While the economic and geopolitical impact of this severe step will become clearer over time, what we know as of now is:
- All Qatari nationals working in and visiting these countries need to leave within 2 weeks.
- Several of the countries have closed all transport ties by air, land and sea to Qatar as of 4am today, Tuesday 6th June.
- Access through Qatar’s only land border from Saudi Arabia, has been blocked. This has resulted in imports of food and essential items not going through.
- The Qatar stock market fell by about 8% since the announcement.