Prices of Qatari credit default swaps, used to insure against the risk of a sovereign debt default, rose sharply early on Thursday after the country's credit rating was downgraded because of its diplomatic rift with other Gulf states.

U.S. President Donald Trump spoke with the emir of Qatar on Wednesday and offered help in resolving the diplomatic crisis with its Arab neighbors, including a White House meeting, the White House said.

The official Jordanian News Agency (Petra) said on Tuesday (June 6, 2017) that Jordan decided to downgrade its diplomatic representation and withdraw the license of Al Jazeera channel in the Kingdom.in Qatar, after Saudi Arabia, the UAE, Egypt and Bahrain severed on Monday all ties with Qatar, accusing it of supporting terrorism.

A senior United Arab Emirates (UAE) official said Wednesday that more punitive measures on Qatar, including further curbs on business, remain on the table in a dispute with its powerful Arab neighbors.

Egypt’s Al-Azhar, the Sunni Muslim world’s foremost Islamic institution, has commended the joint move of Egypt, Saudi Arabia, United Arab Emirates and Bahrain to isolate their Arab neighbor, Qatar, over accusations of supporting terror and backing Iran.

Saudi Foreign Minister Adel al-Jubeir said on Wednesday Gulf states could resolve a row with Qatar amongst themselves without outside help.

U.S. President Donald Trump spoke by phone with Saudi King Salman on Tuesday and stressed the need for Gulf unity, a senior White House official said, following a decision by Arab powers to cut ties to Qatar.

British Prime Minister Theresa May said on Tuesday she had raised "the question of terrorism" when she visited Saudi Arabia in April.

A bust-up between Arab powers has dealt a blow to supercarriers already hurt by low oil prices and laptop bans, exposing the sensitivity of Gulf hubs to regional uncertainty and creating openings for rival airlines - at least in the short term.

Abu Dhabi state-owned Etihad Airways said all travelers holding Qatari passports are currently prohibited from traveling to or transiting through the United Arab Emirates as part of government instructions.

Turkey's parliament is expected to fast track on Wednesday existing legislation to allow its troops to be deployed to a Turkish military base in Qatar, officials from the ruling AK Party and the nationalist opposition said.

Iraq is not taking sides in the dispute that pits Saudi Arabia and other Gulf countries against Qatar, Iraqi Prime Minister Haider al-Abadi told a news conference on Tuesday in Baghdad.

U.S. Defense Secretary Jim Mattis spoke on Tuesday by phone with his Qatari counterpart following a decision by Arab powers to cut ties to the Gulf ally, a Pentagon spokesman told Reuters, without disclosing the details of their discussion.

Turkish President Recep Tayyip Erdogan stood to defend Qatar on Tuesday, saying he intends to "develop" ties with the embattled Gulf state hit by sanction from Saudi Arabia and its allies.

Kuwait's emir left Saudi Arabia after what state news agency KUNA described as a "brotherly visit" but there was no word on the outcome of the talks with King Salman bin Abdulaziz on a major diplomatic rift.

Qatar is talking to Iran and Turkey about securing food and water supplies to stave off possible shortages two days after its biggest suppliers, the United Arab Emirates and Saudi Arabia, cut trade and diplomatic ties, a government official said on Wednesday.

U.S. President Donald Trump took sides in a deep rift in the Arab world on Tuesday, praising Middle East countries' actions against American ally Qatar over Islamist militants even though the tiny Gulf state hosts the largest U.S. air base in the region.

France on Wednesday appeared to caution Qatar in its diplomatic rift with some fellow Arab states by saying the Gulf nation needed to be transparent and answer the questions its neighbors had asked it.

The West African country of Mauritania, a member of the Arab League, severed ties with Qatar on Tuesday over allegations it "supports terrorists", the state news agency reported.

Islamic State claimed responsibility for attacks on Iran's parliament and Ayatollah Khomeini's shrine on Wednesday, the group's state news agency AMAQ said.