Qatar is in an uneasy position as Iran sanctions bite | Financial Times

Qatar is in an uneasy position as Iran sanctions bite | Financial Times:

The next stage of the 30-year dispute between the US and Iran is beginning with the imposition last week of a new round of sanctions on the Islamic republic. One of many questions is how these will affect other countries in the region such as Qatar, which has no grievance with Washington and little sympathy for Tehran but has come in different ways to depend on both.

US president Donald Trump has made reversing the deal that Barack Obama negotiated with Tehran on nuclear activity a totemic issue. In May, Mr Trump decided to pull out and reimpose sanctions. In a tweet sent in August, he said those who do business with Iran will not do business with the US. The threat of sanctions has already begun to have an effect, with the cancellation of planned investments in Iran by companies such as France’s oil group Total.

Qatar is one of the smallest countries in the Middle East but it is also one of the richest. Exports of natural gas to countries as diverse as Britain and China have brought a massive increase in revenue over the last 20 years. Qatar has some 865tn cubic feet of proven gas reserves and is the world’s largest exporter, with more than 27 per cent of the global liquefied natural gas market.