OilPrice.com By Vanand Meliksetian 12/15/2019
The Middle East’s massive energy reserves have made it the center of many key geopolitical events throughout history. The presidency of Donald Trump has transformed the power dynamics in the region with the ‘outsourcing of Washington’s foreign policy’ as an important part of the current President’s plan. The U.S. has largely withdrawn from the Middle East in the last few years while encouraging its allies such as Saudi Arabia and Israel to pick up its role regarding the containment of Iran.
Riyadh, however, interpreted Washington’s acquiescence as a carte blanche to deal with unrelated issues which it deemed as problematic such as Qatar’s independent foreign policy. Saudi Arabia’s ambitious crown prince Muhammad bin Salman has been the cause of several miscalculations costing the country financially and damaging its reputation. The timing of these missteps couldn't have been worse for Saudi Arabia as Riyadh attempts to modernize the country's economy with hard-earned cash from the partial IPO of its oil giant Saudi Aramco. Low investor confidence is partly attributed to the region’s unstable political situation.
In 2017, the Saudis imposed a land, air, and sea blockade on Qatar together with Bahrain, the UAE, and Egypt. Doha’s unexpected de facto exile from the GCC was intended to isolate the tiny country diplomatically and increase financial costs in order to force the country to accept the bloc's demands. The Sunni states objected to Qatar’s independent foreign policy and support for the Muslim Brotherhood while insisting on the closure of Al Jazeera Media Network. Instead of yielding, however, Doha strengthened its military alliance with Turkey, improved political relations with Iran, and established alternative sources to import essential products.
More:
https://oilprice.com/Geopolitics/Middle-East/Is-The-Qatar-Blockade-Coming-To-An-End.html
