DAMASCUS, SYRIA (11:00 AM) – Documents found in leaked e-mails from the United Arab Emirates’ (UAE) ambassador to the United States Yousef al-Otaiba have revealed a detailed plan by Abu Dhabi to wage economic war against Qatar.
The documents, that were found by US-based investigative website The Intercept, show a plot to target Qatar’s currency “using bonds and derivatives manipulation.” The scheme has allegedly been hatched by the Banque Havilland in Luxembourg, property of the family of British financier David Rowland.
The UAE is also seeking to increase Qatar’s debt by controlling its “yield curve,” referring to a standard financial-industry graph showing a country’s borrowing costs for debt that is due at different dates.
“Control the yield curve, decide the future,” the documents read.
Eventually, these measures were meant to make Qatar’s economy collapse and bring the government in Doha to its knees. Following this, the UAE reportedly was planning to use this as a pretext to claim that Qatar is incapable of hosting the 2022 Football World Cup, thus also damaging Qatar’s image and economic prospects for the future.
Qatar has been under a continuous economic and diplomatic embargo imposed by Saudi Arabia, Egypt, Bahrain, and the UAE since June. The embargo-imposing nations have issued a list of demands to Qatar, amongst which are the cutting of ties to Iran and shutting down international news outlet Al Jazeera. Doha has vehemently refused to meet these demands, denouncing them as an attack on the country’s sovereignty.
Just last month, a former Deputy Prime Minister of the UAE revealed that Abu Dhabi had also planned a military invasion of Qatar using mercenaries from the notorious US private military contractor known as Blackwater, but had failed to garner US support for this plan.