Ties cut with Qatar: 10 key details

The UAE, Saudi Arabia, Bahrain and Egypt broke diplomatic ties with Qatar and cut off air, sea and land access to the country over Doha’s support for “terrorist groups aiming to destabilise the region”.

The Qatar Stock Exchange fell by more than 7 per cent. Reuters

The UAE, Saudi Arabia, Bahrain and Egypt broke diplomatic ties with Qatar and cut off air, sea and land links to the country over Doha’s support for “terrorist groups aiming to destabilise the region”.

Here are 10 key details from Monday’s developments:

1. Riyadh said it took action as a result of grave violations being committed by the authorities in Doha. The UAE blamed the Qatari authorities’ failure to abide by the Riyadh Agreement.

2. Flights by UAE airlines to and from Qatar will be suspended from Tuesday. UAE airspace and seaports will be closed to Qatari aircraft and vessels.

3. Saudi Arabia is also suspending flights and banning Qatar airlines from using its airspace.

4. The UAE, Saudi Arabia and Bahrain have given Qatari nationals 14 days to leave their respective countries, and diplomats 48 hours to exit.

5. Qatari nationals will not be allowed to enter or transit through the UAE and Emiratis are also prevented from travelling to or through Qatar.

6. Qatar imports 90 per cent of its food, mostly through the land border with Saudi Arabia leading to a rush on food supplies at Doha supermarkets.

7. The Qatar Stock Exchange fell 7.27 per cent, erasing nearly 30 billion Qatari riyals off the market cap of the index.

8. Closure of ports and road links could have an impact on Qatar’s construction markets.

9. Oil prices rose by 1.6 per cent to US$50.74 a barrel in the morning, but traded just below $50 a barrel in the early afternoon.

10. Qatari pilgrims can still perform Umrah and Haj.