Business, Freight News

Gulf dispute threatens Qatar trade

[ June 6, 2017   //   Chris ]

A diplomatic spat in the Gulf has the potential to disrupt trade, says analyst Panjiva. Bahrain, Egypt, Saudi Arabia and the UAE have severed diplomatic ties with Qatar, suspending trade over the country’s alleged support for Iran and Islamic terrorist organizations.

Panjiva adds that the four countries are also hoping to convince other countries to join the trade embargo, especially China, Qatar’s largest buyer of liquefied natural gas.

Qatar, like other Gulf ports, is also heavily dependent on the UAE for its trade.

Qatar Airways is a major cargo carrier, with flights between its home base and several UK airports. It also supplies freighter capacity to British Airways and other carriers in the IAG group.

In a separate dispute, Panjiva reports that the US government is considering sanctions against Venezuela, which would likely come in the form of restricted trade in oil.

Tags: Panjiva, Qatar, Venezuela