Putin has little time for the Saudis, is fed up of American meddling in the middle east, and is a strong ally of both Iran, the real target of the Saudi move against Qatar, and of Syria's President Assad. And Putin is well aware of the role the USA and Saudi Arabia have played in sponsoring the iSIS / Al Nusra war in Syria. In fact, right up to the end of his failed presidency Barack Hussein Obama was telling the world America's priority in Syria was not to defeat the terrorists of ISIS but to remove Assad and open the way for the Saudis to install a Muslim theocracy that would support its own extreme version of Islam.
A new problem has now emerged in Qatar, the world's biggest source of natural gas: the financial system is running out of dollars. Bloomberg reports that several Qatari banks have boosted interest rates on dollar deposits to shore up liquidity as the Saudi-led campaign to isolate the gas-rich state intensifies.
Adding to concerns of a monetary blockade, Bloomberg also reports that some banks in neighboring countries have been offloading investments in Qatar amid concerns of a widening of the blockade.
Qatar is the world's wealthiest nation on a GDP/capita basis and is well able to withstand a prolonged financial siege, and defend its currency and economy. Finance Minister Ali Shareef Al Emadi played down the impact of the crisis on the country, in an interview with CNBC on Sunday (11 June) saying the plunge in Qatari assets last week was a “normal” reaction to the standoff.
Finally, the question nobody dares ask out loud is, "Where does Russian president Vladimir Puting stand on all this. Well aware of the US role in this latest crisis and the real reasons behind it (reported HERE and HERE) Puting has said the US has “got a false sense that it is able to do everything without any consequences,” in particular after the Soviet Union’s collapse.
“In such a situation, a man or a country begins to make mistakes… Putin said. The state begins to function ineffectively. One mistake follows another. That is the trap in which, as I believe, the United States got caught into,” Putin reflected during a press conference.
"I believe that if you think you are the only world power, trying to impose on the whole nation the idea of their exclusiveness, this creates an imperialistic mentality in society, which in turn requires an adequate foreign policy expected by society. And the country's leaders are forced to follow this logic. And in practice this might go contrary to the interest of the Americans.... It demonstrates it's impossible to control everything."
Which some might interpret as a warning to the USA to stay out of the middle east and mind its own business.
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