Md bin Salman new crown prince of Saudi Arabia

Mohammed bin Salman is well known for taking a central role in Saudi Arabia's efforts to build its economy beyond the oil industry.

Saudi king Salman on Wednesday named his son Mohammed bin Salman as crown prince and previous prince Mohammed bin Nayef has been relieved of his post, according to royal decree, state news agency SPA reported.

Mohammed bin Salman is well known for taking a central role in Saudi Arabia's efforts to build its economy beyond the oil industry. Currently, he is Saudi Arabia's defense minister.

In 2015 he was named the chair of the newly established Council for Economic and Development Affairs. His concern is to reform Saudi's economy towards a more diversified and privatized structure. His reform blueprint, "Vision 2030," details goals and measures in various fields, from developing non-oil revenues and privatization of the economy to e-government and sustainable development.

The appointment comes amid diplomatic blocked imposed on Qatar by Saudi Arabia, Bahrain, and the United Arab Emirates.

According to defence report published in the UK media, western diplomats believe Prince Mohammed bin Salman al-Saud is behind the surprise decision to subject Qatar to some of the most punitive sanctions seen in modern diplomacy.

(With agency inputs)