Strait of Hormuz is shut, must reopen without conditions, ADNOC CEO says

The Strait of Hormuz is shut and Iran must open it without conditions and be held accountable for damages after attacks on facilities, United Arab Emirates state oil giant ADNOC’s CEO said on Thursday.

The narrow waterway that Iran has effectively shuttered since the US-Israeli war began on February 28 is not open, Sultan Al Jaber said in a LinkedIn post, adding access is being restricted, conditioned and controlled.

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“Iran has made clear - through both its statements and actions - that passage is subject to permission, conditions and political leverage. That is not freedom of navigation. That is coercion,” Jaber, also UAE minister of industry and advanced technology, wrote.

“Energy producers must be able to swiftly and safely restore production at scale. At ADNOC, we have loaded cargoes and we will expand production within the constraints of the damage we have suffered.”

Energy facilities have come under attack

“The UAE has reiterated its position that following the substantial and illegal attacks on UAE civil and energy infrastructure, Iran must be held accountable and fully liable for damages and reparations,” Jaber said.

“The Strait must be open - fully, unconditionally and without restriction. Energy security and global economic stability depend on it,” Jaber said, adding that every day that it remains shut compounds the consequences, with supply delayed, markets tightening and prices rising.

About 230 ships are loaded with oil, ready to sail, and should be free to do so along with every vessel to come, he said. “That is how we slow the economic shockwave already moving through the system.”

With Reuters

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