ADNOC Demands Strait of Hormuz Reopening Without Conditions Amid Global Economic Concerns
United Arab Emirates (UAE) oil giant ADNOC's CEO Sultan Al Jaber has called for the Strait of Hormuz to be reopened unconditionally, citing global economic stability as a top priority.
The narrow waterway has been effectively closed since February 28, with Iran imposing conditions and restrictions on passage. ADNOC has seen its oil output halved due to the closure, according to Reuters.
Al Jaber emphasized that energy producers must be able to restore production swiftly and safely at scale. He stated that ADNOC will expand production within the constraints of the damage suffered.
The UAE has reiterated its position that Iran must be held accountable for damages and reparations following substantial attacks on UAE civil and energy infrastructure.