s/balajisQATAR ECONOMY•3h
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Iranian missile damage leaves Qatar’s LNG exports barely moving
Qatar’s LNG exports through the Strait of Hormuz are barely happening after an Iranian missile damaged a Qatari LNG facility. Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said the disruption has hit gas sales, tourism, and hotel occupancy, with reported losses reaching $24 billion and the IMF forecasting an economic contraction of more than 8% this year.
Qatar is using its sovereign wealth fund to cover the budget deficit and cutting secondary projects without reducing salaries. At the same time, its mediation between the United States and Iran has made little progress, with neither side willing to compromise.
Qatar is using its sovereign wealth fund to cover the budget deficit and cutting secondary projects without reducing salaries. At the same time, its mediation between the United States and Iran has made little progress, with neither side willing to compromise.
Timeline3
9h
Qatar’s prime minister acknowledged that reported losses, including $24 billion in gas sales and an IMF forecast of more than 8% economic contraction, were largely accurate.
6h
The Qatari prime minister said LNG exports through the Strait of Hormuz were barely happening after an Iranian missile damaged a Qatar LNG facility.
3h
Reports said Qatari mediation efforts between the United States and Iran had made little progress, with neither side willing to budge.
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3h