In a sharp address in the US, the Emirati oil executive warned that holding the strategic waterway hostage forces nations to “pay the ransom” through higher prices at the pump and beyond.
WASHINGTON — Sultan Al Jaber, chief executive of Abu Dhabi’s state oil company ADNOC, delivered a blistering rebuke to Iran on Wednesday, describing any attempt to restrict passage through the Strait of Hormuz as an act of “economic terrorism.”
Speaking in the United States, Al Jaber framed the strategic waterway—through which a significant share of the world’s oil transits—as a vulnerability that, if weaponized, inflicts economic pain far beyond the Gulf region.
“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 his speech. “No country can be allowed to destabilize the global economy in this way. Not now. Not ever.”
The comments came after a meeting earlier in the day between Al Jaber and US Vice President JD Vance. During that meeting, Al Jaber emphasized that ensuring free passage through the Strait of Hormuz is the only durable solution to stabilizing global energy markets.
Iran has previously threatened to disrupt shipping through the strait in response to heightened tensions over its nuclear program and international sanctions. Such disruptions have historically triggered sharp spikes in oil prices and sent shockwaves through the global economy.
Al Jaber’s remarks reflect growing Gulf concern over maritime security and underscore the economic interdependence between the region’s energy producers and global consumers. His characterization of potential restrictions as “economic terrorism” represents unusually forceful language from a senior Emirati official, signaling the gravity with which Abu Dhabi views the threat.
United Arab Emirates Dirham Exchange Rate
