UAE energy chief: “Choking" Strait of Hormuz is economic terrorism

The effective closure of the strategic Strait of Hormuz is “economic terrorism against every nation,” according to Sultan Ahmed Al Jaber, chief executive officer of the Abu Dhabi National Oil Company (ADNOC).

Speaking at the CERAWeek energy conference in Texas on March 23, Al Jaber emphasised the global consequences of disruptions in the waterway, which normally channels around a fifth of the world’s oil and natural gas supply, Caliber.Az reports per US media.

“Much of the oxygen of the global economy runs through a single throat. And yet there are those who believe that choking that throat is an acceptable strategy,” he said, avoiding direct mention of Iran.

Al Jaber noted the impact on energy prices since the outbreak of the Iran war on 28 February. “When Hormuz is squeezed, the pressure is immediately felt around the world,” he said. Brent crude, the global benchmark, has surged nearly 40% in the same period.

“This is raising the cost of living for those who can least afford it and slowing economic growth everywhere. From factories to farms to families around the world, the human cost is mounting by the day,” added Al Jaber, who also serves as UAE minister of industry and advanced technology.

He delivered a clear warning on the strategic waterway. “So let me be absolutely clear: Weaponising the Strait of Hormuz is not an act of aggression against one nation. It’s economic terrorism against every nation. And no country should be allowed to hold Hormuz hostage. Not now. Not ever.”

By Aghakazim Guliyev