by Bill O’Grady

On June 6^th, several members of the Gulf Cooperation Council (GCC)[1] announced a sweeping blockade of Qatar, also a member of the GCC.  The GCC members enforcing the blockade, led by Saudi Arabia, issued a list of 13 demands which Qatar rejected.

Since the blockade was implemented, Qatar has managed to replenish basic foodstuffs that were initially stripped from store shelves as households rushed to hoard necessities.  The emirate state has managed to fly in dairy cows from abroad which are now contentedly supplying milk from air conditioned barns in Qatar.

In the first part of this report, we will offer a short history of Qatar and examine its geopolitical imperatives.  Next week, in Part II, we will analyze the events precipitating the blockade, the blockade itself, the GCC’s demands and the impact thus far on Qatar.  We will examine how the situation has reached a stalemate and, as always, we will conclude with market ramifications.

View the full report

[1] Member states include Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Oman and Bahrain.