The United Arab Emirates denounces Iran for "economic terrorism" after the attacks in the Strait of Hormuz.

The United Arab Emirates (UAE) condemned Iran's attacks on maritime transport in the Strait of Hormuz, describing them as 'economic terrorism' that affects the entire world.

Sultan Ahmed Al Jaber, the CEO of Abu Dhabi National Oil Company and Minister of Industry, emphasized that transforming the Strait of Hormuz into a weapon is not an act of aggression against a single country, but a global threat.

The Strait of Hormuz is essential for the transport of approximately 20% of the world's oil supplies. Following the Iranian attacks, oil traffic has nearly stopped completely, and Al Jaber stated that the issue is not one of supply, but of security, calling for the strait to remain open.

In the context of the conflict, the UAE has been targeted by missile and drone attacks from Iran, resulting in deaths and injuries.

Oil prices have fluctuated significantly following these events, and leaders in the oil industry have canceled participation in conferences due to rising tensions.