ADNOC CEO calls any Iranian restriction of Strait of Hormuz “economic terrorism”

Sultan Al Jaber, CEO of Abu Dhabi state oil company ADNOC, has described any attempt by Iran to restrict shipping through the Strait of Hormuz as “economic terrorism.”

Speaking in the United States on March 25, Al Jaber warned of the global consequences of such a move. “When ​Iran holds Hormuz hostage, every ⁠nation pays the ransom, ​at the gas pump, at ​the grocery store, at the pharmacy,” he said. “No country can be allowed to destabilize the global economy in this way. Not now. Not ever.”

Earlier the same day, Al Jaber met with U.S. Vice President J.D. Vance, stressing that ensuring free passage through the strategic waterway is the only durable solution to stabilising global markets.

The Strait of Hormuz is a critical chokepoint for global energy supplies, with approximately one-fifth of the world’s oil passing through it. Any disruption could have serious repercussions for global oil prices and economic stability.