Qatar’s wealth is getting destroyed by the problems at Glencore & VW

Qatar is having a horrible time.

There’s gloom around for oil-dependent countries generally. Just yesterday we found out that Saudi Arabia is pulling its money back into the country.

But events are turning especially badly against Qatar, whose LPG and Oil exports make up about 90% of total exports.

Now we have a new reason to feel for Qatar; its Sovereign Wealth Fund is very exposed to Volkswagen and Glencore. Markets360 tweeted this data today:

Just between the holdings in those stocks the fund has lost more than $US10 billion.

You can read more at the Financial Times

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