Abu Dhabi state oil company ADNOC’s CEO Sultan Al Jaber described any restriction of passage through the Strait of Hormuz by Iran as “economic terrorism”.
“When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store, at the pharmacy,” Al Jaber said in a speech in the US on Wednesday.
“No country can be allowed to destabilize the global economy in this way. Not now. Not ever.”
Al Jaber, during a meeting with US Vice President JD Vance earlier in the day, said free passage through the Strait of Hormuz was the only durable solution to stabilizing global markets.
American Dollar Exchange Rate