The lifting of the sanctions against Iran have caused a collapse on the stock exchanges of the Gulf monarchies

The lifting of the sanctions against Iran have caused a collapse on the stock exchanges of the Gulf monarchies


KUWAIT, January 17. /Corr. Vasily Vavilin/. Trading on the stock exchanges of the Arabian monarchies of the Persian Gulf on Sunday began with the fall of the main indices on the background of the lifting of sanctions against Iran. In particular, the total index of the largest in the middle East Saudi stock exchange (“Tadawul”) fell by 6.5%.

In the first minutes since the start of trading in Saudi Arabia, the index dropped by 300 points below 5500. With a record fall also started the week stock markets in the UAE. In early trading the main index of the Dubai stock exchange (Dubai Financial Market General Index DFM) fell to unprecedentedly 2672,33 item. It was followed by a similar index, the capital of the Emirate of Abu Dhabi, which fell by 2.68% to 3837,81 item.

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A similar situation exists in neighbouring Qatar, where the second largest stock platform in the region. An hour later, since the opening of the session the main index fell 5% below 8800 points. In Kuwait also fell, Bourse lost 2.4 per cent, almost reaching 5000 points.

The main reason of falling of indexes remain very low oil prices and the lifting of sanctions against Tehran by the West. The Iranian authorities have already announced that will increase production of commodities that will increase the supply of oil on the world market.

On the implementation by Iran of the requirements for the implementation of the agreement on the nuclear issue, on Saturday said IAEA chief Yukiya Amano, after which the EU authorities have announced a full account, on the partial lifting of sanctions against Tehran.