Bahrain sees 'no glimmer of hope' for ending Qatar crisis soon

RIYADH (Reuters) - Bahrain sees no resolution in sight to a diplomatic row between Qatar and its neighbors, which cut diplomatic and trade ties with the tiny Gulf Arab state nearly a year ago.

“The information in our hands today does not indicate any glimmer of hope for a solution now, as the matter does not happen suddenly,” Bahrain’s Foreign Minister Sheikh Khalid bin Ahmed al-Khalifa told Alsharq Alawsat newspaper on Sunday.

Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt severed travel and trade ties with Qatar last June, alleging it was backing Iran and supporting terrorism. Qatar denies this and says the boycott is an attempt to impinge on its sovereignty and rein in its support for reform.

After initially disrupting Qatar’s imports and triggering the withdrawal of billions of dollars from its banks by depositors from the four states, the world’s top exporter of liquefied natural gas quickly developed new trade routes and deployed tens of billions of dollars from its sovereign wealth fund to protect its domestic lenders.