ADNOC CEO Sultan Al Jaber said 50 days of disruption in the Strait of Hormuz have blocked nearly 600 million barrels of oil, putting increasing pressure on global supplies of LNG, jet fuel, fertiliser and other essential commodities.
In a post on social media platform X, he warned that the impact is being felt worldwide, with rising costs ultimately passed on to ordinary people. Al Jaber stressed that the global economy cannot withstand prolonged uncertainty and said the Strait must not operate under threat.
He also criticised any form of payment for safe passage, calling it a “protection racket”, and emphasised that the Strait of Hormuz belongs to the world and must remain open and accessible as before.
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Source: Khaleej Times