ADNOC: Iran curbs on Hormuz amount to “economic terrorism”

Shafaq News- Washington

Any Iranian restrictions on passage through the Strait of Hormuz would amount to “economic terrorism,” ADNOC CEO Sultan Al-Jaber said on Thursday.

ADNOC is the national oil company of Abu Dhabi and one of the world’s largest energy producers.

Speaking at a press conference in the United States, Al-Jaber warned that holding Hormuz “hostage” would raise fuel, food, and medicine costs worldwide, adding that no country should be allowed to destabilize the global economy.

Freedom of navigation through the strait is the “only durable solution” to stabilize global markets, he said.

Iran earlier this week emphasized that the Strait of Hormuz remains open, but only for “non-hostile” vessels coordinating with its authorities, according to Iranian outlets.