Kuwait, Moscow- Russian Foreign Minister Sergei Lavrov discussed on Monday his country’s readiness to play a “supportive role” in the mediation efforts played by Kuwait to solve the crisis between Saudi Arabia, the UAE, Bahrain and Egypt from one side, and Qatar from another.
Following talks with Kuwaiti Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah at the Seif Palace on Monday, in addition to a meeting held with Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, Lavrov said that the Kuwaiti mediation efforts to end the ongoing rift between Qatar and several Arab countries “deserves to be supported.”
According to Russia’s official news agency TASS, Lavrov said: “We strongly believe that Kuwait’s initiative deserves the support of all those who can generate a positive impact on this situation. We are ready to provide this support in any mode that will be acceptable to all participants in this situation.”
The Russian minister also said Moscow “has good relations with all the countries which found themselves in such a difficult situation.”
According to Kuwait’s news agency KUNA, Lavrov’s visit on Monday came to follow-up on the implementation of the agreement reached between Kuwait’s Amir and Russian President Vladimir Putin to strengthen bilateral relations and coordinate positions on issues of mutual interest.
Meanwhile, Fitch Ratings cut Qatar’s sovereign rating to AA-, with a negative outlook.
The New York-based firm said in a statement Monday that it has “downgraded Qatar’s Long-Term Issuer Default Ratings (IDRs) to ‘AA-‘ from ‘AA’ and removed them from Rating Watch Negative (RWN) where they were placed on 12 June 2017.”
Fitch Ratings also expected that the Qatari government’s net foreign assets would fall to 146 percent of gross domestic product in 2017 from 185 percent last year, adding that “at the same time, the full financial and economic impact of the embargo is uncertain and could prove to be larger than we currently expect.