Qatar wants monetary compensation for Arab embargo

Qatar plans to help citizens and companies claim compensation for their losses from what the country calls a "blockade" by its neighbors, CNN reports.

The small Gulf nation on Sunday announced the formation of a special committee with which individuals and firms can file claims for damages. The committee will help legally pursue the claims, according to Qatar's justice ministry.

"We are confident that Qatari lawyers can defend Qatar and its symbols through proper legal procedures," the ministry said on Twitter, adding that it will take "appropriate legal measures to go after the abusers of Qatar."

Thousands of individuals and several businesses have taken major hits since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties and shut off all transport links with Qatar. The four countries accuse Qatar of destabilising the Middle East by funding terrorism in the region, a claim the Qatari government denies.

The formation of the compensation initiative comes a day before US Secretary of State Rex Tillerson arrives in Kuwait to discuss possible solutions to the standoff in the region, the report in CNN says.

Qatar has already taken several steps to keep its economy going, with the Qatari finance minister telling CNNMoney that it is strong enough to bounce back. The country is also planning to increase production of natural gas -- one of the cornerstones of its economy -- by 20%.



Source: CNN