End Qatar blockade, UK FM tells Arab states

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"While Qatar's hydrocarbon exports are not affected at this stage, there have been reports of disruptions to certain non-hydrocarbon exports and a forced shutdown of helium production", said Steffen Dyck, Senior Credit Officer, Sovereign Risk Group of Moody's.

In their apparent bid to win more support from the U.S. and Israel, the Arab countries have suspended all land, air and sea traffic with Qatar, expelled its diplomats and ordered Qatari citizens to leave their countries.

His Highness the Emir Sheikh Tamim bin Hamad al-Thani and the UK Foreign Minister Boris Johnson discussed on Saturday the latest developments of the GCC crisis and its implications in terms of regional and worldwide stability. However, Qatar has denied the allegations and said that the move was an attempt to infringe upon the country's sovereignty.

The response was "shockingly naive, with weak arguments", Dr. Anwar Mohammad Gargash, UAE Minister of State for Foreign Affairs, said in series of tweets late Friday.

Jarallah made his remarks after meeting Wednesday with Johnson in London, adding that they both reviewed developments of the Gulf dispute since its beginning, as well as Kuwait's efforts aimed at bridging the gap and reaching a solution to the root causes of the dispute. "The demands of the four countries were that Qatar would comply with the Riyadh agreement signed by Qatar in 2013 and 2014 to overcome the crisis".

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The nation's fifth-largest state has been without a complete budget for two fiscal years due to political wrangling. The governor also compared the income tax increase to a "two-by-four smacked across the forehead".

"These talks underline the UK's strong support for Kuwait's mediation efforts and I urge all parties to play a constructive role in order to restore the unity of the Gulf Cooperation Council".

"The blockade is unwelcome and we hope there will be a de-escalation", he added.

The four countries cut diplomatic ties and severed air, land and sea links with World Cup 2022 host Qatar early last month.

Later, the countries presented Doha with a list of demands, which includes shutting down its news channel Al Jazeera, ending support for the Muslim Brotherhood, downgrading ties with Iran, and closing a military base for Turkish troops.

Visiting British Foreign Secretary Boris Johnson on Saturday called on Qatar and its Arab neighbors to resolve a diplomatic crisis through dialogue.