Iran says it will charge ships to transit strait of Hormuz after 60 days.
Coveragetap to expand ▾Spectrum: Mostly Center🌍Other: 11 · US: 3 · Asia: 3 · Europe: 2 · ME: 2
- Middle East crisis live: agreement signed by US-Iran presidents; Tehran claims it will charge ships to transit strait of Hormuz
- The United Arab Emirates said it was aiming to reduce its reliance on the Strait of Hormuz to “zero” after the war with Iran laid bare the vulnerabilities of the key waterway.
- After the launch of Operation Epic Fury, Iran immediately moved to close the Strait of Hormuz, attacking shipping with drones and missiles, which caused shipping companies to halt nearly all transit through the waterway.
- “We’re moving toward having zero Hormuz dependency and that’s regardless of whether it’s open or not,” he said.
- Israeli official says Iran war may not have been worth launching
The United Arab Emirates has set an ambitious goal to eliminate its reliance on the Strait of Hormuz, a critical waterway for global oil transport, in the wake of Iranian attacks that have disrupted shipping routes.
Following the launch of Operation Epic Fury, Iran targeted shipping in the Strait with drones and missiles, leading to a near-total halt of maritime traffic through this vital corridor. This situation has prompted UAE officials to reassess their energy strategies, emphasizing the need for alternative routes to ensure energy security.
The West-East Pipeline, expected to be completed next year, is a key component of this strategy, aimed at facilitating oil transport without passing through the Strait. UAE officials have expressed confidence in their plans, stating that they will proceed regardless of whether the Strait remains open.
This shift reflects a broader recognition among Gulf countries of the vulnerabilities exposed by the ongoing conflict with Iran, which has underscored the risks associated with heavy reliance on a single maritime route. As the situation evolves, the UAE's commitment to reducing its dependence on the Strait of Hormuz could reshape energy dynamics in the region and beyond.
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