UAE says its energy exports will not be 'held hostage' by Iran war
XLE•Hormuz remains a sticking point
Iran followed through on its threat to close the Strait of Hormuz, once a conduit for a fifth of global energy supplies. The disruption sent energy prices soaring and sparked a global economic crisis.
The waterway's status remains a central obstacle in negotiations between Washington and Tehran, mediated by Qatar and Pakistan, with Iran claiming the strait belongs to Iran and Oman — a position Gulf states broadly reject.
"Freedom of navigation is not a concession to be granted, nor a principle to be renegotiated under pressure," Gargash said, adding that any long-term resolution must include credible guarantees against further Iranian attacks on Gulf Arab states.
The conflict, sparked by U.S. and Israeli strikes on Iran on February 28, remains deadlocked. A preliminary ceasefire reached in June has unravelled, and little progress has been made in efforts to revive the peace process.
