The Emirati oil executive said any Iranian restriction on the critical waterway forces “every nation” to pay higher prices, speaking after meeting with US Vice President JD Vance.
WASHINGTON — The chief executive of Abu Dhabi’s state oil company has condemned any Iranian attempt to restrict passage through the Strait of Hormuz as “economic terrorism,” warning that such actions destabilize global markets and hurt consumers worldwide.
Sultan Al Jaber, who leads ADNOC, delivered the sharp rebuke in a speech in the United States on Wednesday, framing the strategic waterway—a chokepoint for roughly one-fifth of global oil supply—as a vulnerability that, if exploited, carries consequences far beyond the Gulf region.
“When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store, at the pharmacy,” Al Jaber said. “No country can be allowed to destabilize the global economy in this way. Not now. Not ever.”
His remarks came after a meeting earlier Wednesday with US Vice President JD Vance, during which Al Jaber emphasized that ensuring free passage through the Strait of Hormuz is the only durable solution for stabilizing global energy markets.
Iran has periodically threatened to close or restrict the strait in response to heightened tensions over its nuclear program, sanctions, or regional conflicts. Such threats have historically triggered volatility in oil prices and raised alarm among energy-importing nations.
Al Jaber’s characterization of potential restrictions as “economic terrorism” marks unusually forceful language from a senior Emirati official and reflects deepening Gulf concerns over maritime security. The comments also underscore the close coordination between the UAE and the United States on energy security issues, particularly as Washington maintains pressure on Tehran.
