Why have Saudi Arabia, UAE, Egypt, Bahrain, Yemen and Libya broken ties with Qatar?

Even as it faces challenges in the Arab world, Qatar has stood firm on its ground saying it will not negotiate with its neighbours to resolve the current dispute in the Gulf unless the restrictions imposed on it are lifted in the first place.

The United Arab Emirates (UAE), which along with Saudi Arabia, Egypt, Bahrain and a few other countries have boycotted Qatar on charges of backing terrorists, said the sanctions could go on for years unless Qatar accepted the Arab powers' plan to be revealed in the days to come.

The signs of no softening by either side are going to make the politics of West Asia a subject of intense observation in the near future.

Qatar understandably is not going to let things go for a number of reasons. First and foremost, it has its own allies, besides the US which despite President Donald Trump backing tough measures against it, has not dumped it. The two sides even entered an arms deal in the wake of the crisis and Trump's condemning Qatar. Besides, Qatar has moved closer to Iran and on Monday, June 19, also had war games with the Turkish troops to display the fact that it still has a few strong alliances to fall back on.

The foreign minister of Qatar has said that his country is ready to "engage and address" the concerns of other Arab states in the Gulf but sought that the sanctions must be lifted first. This gives a clear message that Doha is in no mood to buckle under pressure and taking a strong counter position marked by restraint.

The strategy of stifling Qatar is not going to succeed much since it is not a Syria or Libya that can be bombed into surrender. Just like Saudi Arabia and the UAE, Qatar is no less an economic power despite its size and if the tussle between the rich of the Arab world reaches a point of no return, the impact will be massive on the global economy.

Qatar is the world's largest exporter of the liquefied natural gas while the Qatar Investment Authority has huge stakes in big firms from the western world. The country had invested billions in assets overseas and is also set to host the Fifa World Cup in 2022.

Likewise, the UAE and Saudis also have their respective economic and political clout in the region and no party will be foolish enough to squander the fortunes they have made over the years in the ongoing diplomatic row.

With the US continuing to stay in Qatar which is home to its airbase near the disturbed zones of the region and Qatar not falling alone, it is unlikely that there will be war but at the same time, the no-softening stance by either group means the deadlock could continue for days, affecting the global economy and fight against terrorism.

From the fight between dictators and rebels, West Asia is now witnessing a tussle between the rich. At the same time, it is also making the strategic rift wide by allowing Iran, another important regional player, to find more friends.

The danger of the Qatar crisis lies in the fact that it involves the booming economies and not politically destitute states and further worsening of the row could leave the entire Gulf in a very bad shape. Can the international community convince the players to arrive at a solution before it gets too late?