Published Aug 22, 2026, 12:13 PM ET · Updated 3 months ago · 1 source
US sanctions on Iran have backfired, causing significant collateral damage to Gulf economies
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Original Report
US sanctions on Iran have historically backfired, causing enormous damage to other Gulf economies, particularly Qatar, which is projected to see an 8.6% economic contraction in 2026, significant budget cuts, and long-term damage to its LNG capacity due to Iranian missile strikes. This economic pressure on GCC countries, coupled with Iran's retaliatory actions, makes cooperation with the US economic war difficult and unlikely to succeed.