Three days into the attack on Iran, nervous Middle Eastern leaders are already looking for the conflict’s end.
Bloomberg News reports the United Arab Emirates and Qatar are quietly lobbying their allies in hopes of persuading President Donald Trump to shorten U.S. military operations in the region. Their hope is a coalition can quickly devise a diplomatic end to the combat to prevent further escalation and an energy price shock.
The diplomats requested anonymity from Bloomberg. But a Qatari assessment shared with the news outlet warned that a significant market price move would happen if shipping lanes in the region remain disrupted by the middle of this week.
UAE President Mohammed bin Zayed Al Nahyan and Qatari emir Tamim bin Hamad Al Thani have spoken to a number of European leaders, Bloomberg said, including the UK’s Keir Starmer, France’s Emmanuel Macron, and Germany’s Friedrich Merz.
So far, any hopes of an early end to the combat seems wishful. The conflict escalated on Monday, as the U.S. slammed Iran and saw retaliation continue against Israel and neighboring Gulf states. The war is also widening, as Iranian-backed Hezbollah has joined the fray from its Lebanon base. News reports have previously claimed that there is no clear exit plan for the U.S. and/or Israel.
The Iranian Red Crescent Society claimed 555 people have already been killed in the conflict, with Israel claiming 11 deaths on its side. Four American troops have been reported killed in action, while three people were killed in the United Arab Emirates and one each in Kuwait and Bahrain.
Monday saw European natural gas prices spike more than 50 percent after Qatar shut down its liquefied natural gas production in the wake of an Iranian drone attack. The Qatar facility is the world’s largest exporter, and the Qataris warned that more severe price hikes could happen with a continued conflict.
The UAE and Qatar are leaving nothing to chance, even as they lobby for a diplomatic end to the conflict. Sources told Bloomberg that both are working to improve air defense capabilities, with the UAE focusing on medium-range missile air defense and Qatar hoping to enhance its ability to counter drone attacks.
The Patriot missile stocks of Qatar could be depleted later this week, given their rate of use, Bloomberg reports, citing an internal analysis provided by the country.