William Engdahl, an author and Middle East expert, has claimed that the gas stock in the Persian Gulf and currency wars are behind the ongoing blockade on Qatar.

Engdahl's analysis of the Qatar crisis, which broke out following U.S. President Donald Trump's visit to the Middle East, was published in the Moscow-based global affairs journal New Western Outlook.

In his piece, Engdahl pointed out that the U.S. Congress sanctions on Iran and Russia are linked to the sanctions imposed on Iran by Saudi Arabia and other Gulf states, and claimed that the largest natural gas reserves in the Persian Gulf, owned by Iran and Qatar, as well as currency wars are behind the ongoing crisis.

He said Qatar and Iran held negotiations last autumn and decided to carry out joint production. Immediately after the agreement, the two countries were accused of supporting "terrorism."

According to Engdahl, currency wars are another reason behind the recent crisis. He also argued that the accusations against Qatar of "supporting terrorism," were also caused by the fact that the U.S. wants to avoid the decline of the dollar, which has lost strength around the world but remains strong as a reserve currency.

Qatar, which plans to export natural gas, mainly to China, has joined Iran, which has not accepted dollars in its oil and natural gas exports for years, which is one of the main issues that disturbs Washington.

Qatar has also been in close contact with China over financial terms and has been hosting the swap center of the People's Bank of China (PBC) in the Middle East since 2015.

Following the inclusion of the Chinese currency, the yuan, in the International Monetary Fund's (IMF) Special Drawing Basket (SDR), transactions have become easier. Now, the Chinese yuan can also be used in Qatar's natural gas exports to China.

Engdahl said following the pipeline agreement among Iraq, Iran and Syria, which was supported by Russia in 2011, turbulence started in the region.

He further claimed that the U.S. instigated a civil war in Syria mostly because of this 1,500-kilometer (932-mile) line.

According to Engdahl, Qatar's joint natural gas drilling works, and exports to Europe and the Far East are behind the divergence of opinion between Qatar and the countries in the region. He also stressed that the neocons in Washington were behind this strategy.