By SJ. Email:online@newsofbahrain.com Dubai : The United Arab Emirates is developing alternative routes for its energy exports and trade to reduce its reliance on the Strait of Hormuz amid the ongoing war between the United States and Iran, UAE presidential adviser Anwar Gargash said. T
Email:online@newsofbahrain.com
Dubai : The United Arab Emirates is developing alternative routes for its energy exports and trade to reduce its reliance on the Strait of Hormuz amid the ongoing war between the United States and Iran, UAE presidential adviser Anwar Gargash said.
The UAE is expanding port capacity on its eastern coast while developing pipelines, railways and alternative trade corridors to keep energy and commercial activity moving despite disruptions around the strategic waterway.
“Our energy exports will not be held hostage, nor will our trade and economic activity,” Gargash told the Hili Forum in Abu Dhabi.
The conflict has affected Gulf states after Iran launched missile attacks on the UAE and targeted oil tankers in the Strait of Hormuz.
Gargash said relations with Iran could eventually be restored, but rebuilding trust with neighbouring countries could take decades.
The UAE, a major economic link for Iran, suspended financial and economic transactions with Tehran in August, citing military escalation and missile threats.
Gargash also criticised Gulf states for failing to mount a sufficiently united response to the Iranian attacks, saying greater regional coordination was needed.
Pic Credit: AFP
