UAE Oil CEO Condemns Iran Attacks in Strait of Hormuz as 'Economic Terrorism'

Mar 23, 2026 22:59 UTC

CL=F, ^VIX, OIL

Immediate term

Sultan Ahmed Al Jaber, CEO of the UAE's state-owned oil company, labeled recent attacks in the Strait of Hormuz as 'economic terrorism' targeting global markets. The statement underscores growing concerns over energy security and supply chain stability.

Sultan Ahmed Al Jaber is CEO of the UAE's state-owned oil company
Attacks in the Strait of Hormuz are labeled 'economic terrorism' by the UAE CEO
The strait is a critical global oil transit route
Al Jaber called for the immediate reopening of the Strait to resolve supply shock
Market concerns are reflected in energy and volatility indices

Sultan Ahmed Al Jaber, chief executive of the UAE’s state-owned oil company, has condemned recent attacks in the Strait of Hormuz, describing them as 'economic terrorism against every nation.' The remarks come amid escalating tensions in one of the world’s most critical maritime chokepoints, through which a significant portion of global oil shipments pass. Al Jaber emphasized that the safe and uninterrupted flow of energy through the strait is essential to global economic stability. He called for immediate measures to reopen the waterway, warning that prolonged disruptions could trigger lasting market volatility. The Strait of Hormuz remains a focal point for energy security, with any threat to its operations directly impacting crude oil markets. The situation has already begun to influence investor sentiment, as reflected in movements in energy-related indices.