ABU DHABI, July 4 (Xinhua) -- Visiting German Foreign Minister Sigmar Gabriel said Tuesday that he sees "good chances" for the diplomatic row between Qatar and Saudi-led Arab countries not to escalate further, local and German media reported.
Gabriel made the remarks at a joint press conference with his United Arab Emirates (UAE) counterpart Abdullah Bin Zayed Al-Nahyan during his visit to the country.
Despite a "real danger" for the conflict to escalate, "I think there are sufficient possibilities in order to defuse the situation," he said, as there was new "room to maneuver" to achieve "common results."
The German official also pressed for joint regional efforts against terror financing.
"Financing of terror must stop! The UAE is already following a comprehensive approach," he urged.
Gabriel is on a second day of his three-day mediation tour in the Gulf Arab region to help seek a political solution to the Doha diplomatic crisis. He will head to Qatar later today and visit Kuwait on Wednesday.
On June 5, Saudi Arabia, the UAE, Bahrain and Egypt cut off diplomatic ties with Qatar and imposed a transport sanction on the Gulf state by closing all their land, sea and air links to Doha, accusing it of supporting terrorism and extremism, which Qatar has repeatedly denied.
Qatar holds a 14.6 percent stake in Germany's auto giant Volkswagen, and an eight percent stake in Germany's biggest lender Deutsche Bank.