emirates7 - Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, affirmed that the situation affecting navigation in the Strait of Hormuz — which is only 33 kilometers wide — is not a limited regional issue, but one that impacts global economic stability as a whole.
Dr. Al Jaber explained that “Iranian interventions in this vital waterway represent unacceptable economic pressure that the international community cannot ignore.”
He added, “Asian economies were the first to be affected, as this was reflected in reduced working hours, fuel consumption rationalisation, fewer flights, and restrictions on energy use. Today, the repercussions are extending westward to Europe, with rising food and energy prices, further intensifying inflationary pressures on consumers.”
He stressed that any disruption in the Strait of Hormuz is not limited to oil supplies, but extends to the daily lives of billions of people — from the cost of food and airline tickets to energy bills and medicine prices.
He said, “Around 20% of global energy flows pass through this strait, making it a critical factor in determining fuel prices, transportation costs, and the continuity of industrial supply chains. Approximately 50% of global sulfur supplies — an essential component in pharmaceuticals and fertilizers — also transit through it, in addition to about 30% of Liquefied Petroleum Gas (LPG), which is vital for everyday household use.”
He noted that when supplies flow smoothly through Strait of Hormuz, economic activity accelerates and markets grow, but when they are disrupted, everyone pays the price.
Dr. Al Jaber emphasised that the responsibility of the international community today requires decisive collective action to ensure freedom of navigation and safeguard global economic stability. In this context, he highlighted the importance of adhering to UN Security Council Resolution 2817 to guarantee secure passage through the Strait of Hormuz.
Dr. Al Jaber explained that “Iranian interventions in this vital waterway represent unacceptable economic pressure that the international community cannot ignore.”
He added, “Asian economies were the first to be affected, as this was reflected in reduced working hours, fuel consumption rationalisation, fewer flights, and restrictions on energy use. Today, the repercussions are extending westward to Europe, with rising food and energy prices, further intensifying inflationary pressures on consumers.”
He stressed that any disruption in the Strait of Hormuz is not limited to oil supplies, but extends to the daily lives of billions of people — from the cost of food and airline tickets to energy bills and medicine prices.
He said, “Around 20% of global energy flows pass through this strait, making it a critical factor in determining fuel prices, transportation costs, and the continuity of industrial supply chains. Approximately 50% of global sulfur supplies — an essential component in pharmaceuticals and fertilizers — also transit through it, in addition to about 30% of Liquefied Petroleum Gas (LPG), which is vital for everyday household use.”
He noted that when supplies flow smoothly through Strait of Hormuz, economic activity accelerates and markets grow, but when they are disrupted, everyone pays the price.
Dr. Al Jaber emphasised that the responsibility of the international community today requires decisive collective action to ensure freedom of navigation and safeguard global economic stability. In this context, he highlighted the importance of adhering to UN Security Council Resolution 2817 to guarantee secure passage through the Strait of Hormuz.
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