Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC) said on Monday that weaponising the Strait of Hormuz is an act of 'economic terrorism' while highlighting the global consequences that affect far beyond just the energy markets.
Al Jaber was speaking at the global energy conference CERAWeek taking place from March 23-27 in Texas, USA, when he underlined that when the Strait of Hormuz is threatened, the human cost is exponential and the effects reach factories, farms and families across the world. He said that "energy security is not just a slogan, it's the difference between lights on and lights off," stressing that the world's critical arteries must remain open and the Strait of Hormuz is one of those arteries.
