Gulf stocks mixed as Trump rejects reported Iran sanctions relief
Saudi Arabia’s index rose 0.3% while Qatar fell 0.6%; Dubai was up 0.1% and Abu Dhabi slipped 0.1% after Trump dismissed reports of potential US sanctions easing for Iran amid Qatar diplomacy.
Sept 30 (Reuters) — Gulf equity markets traded mixed on Wednesday morning after US President Donald Trump dismissed media reports of potential sanctions relief for Iran even as Qatari mediators intensified efforts to broker peace. Axios and CNN both reported, citing unidentified US officials, that Trump was willing to give Iran sanctions relief and free Iranian funds as part of a final deal on the condition that Iran showed "concrete progress" on the nuclear issue. "This is untrue. I offered them NOTHING," Trump wrote on Truth Social on Monday.
Concurrently, Qatar pressed ahead with shuttle diplomacy aimed at de-escalating the seven-month conflict between Washington and Tehran, though Trump reiterated his forecast of an imminent Iranian capitulation. In Tehran, the Islamic Revolutionary Guard Corps urged American voters to unseat congressional allies of Trump, coinciding with a celebrated milestone as US forces prepared to vacate their remaining bases in neighboring Iraq. 6% gain in energy giant Saudi Aramco.
Regional export prospects also brightened as Saudi Arabia resumed crude tanker loadings at its Red Sea terminal in Yanbu after restarting operations along the East-West Pipeline, according to shipping intelligence and trade sources. 6%, weighed down by a 1% slide in the Gulf's biggest lender, Qatar National Bank. 3% rise in top lender Emirates NBD. 1%.
com; +918061822788)