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Bahrain and Sudan Cut Diplomatic Ties with Iran

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Saudi Arabia on Sunday cut ties with Iran, responding to the storming of its embassy in Tehran in an escalating row between the rival Middle East powers over Riyadh’s execution of a Shi’ite Muslim cleric.

On Monday, Bahrain and Sudan also cut diplomatic relations with Iran, and the UAE said it will reduce the number of Iranian diplomats it permits to be in its country.

Foreign Minister Adel al-Jubeir told a news conference in Riyadh that the envoy of Shi’ite Iran had been asked to quit Saudi Arabia within 48 hours. The kingdom, he said, would not allow the Islamic republic to undermine its security.

Iranian protesters stormed the Saudi embassy in Tehran early on Sunday and Shi’ite Iran’s top leader, Ayatollah Ali Khamenei, predicted “divine vengeance” for the execution of Sheikh Nimr al-Nimr, an outspoken opponent of the ruling Al Saudi family.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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