S\u00e3o Paulo \u2013 Sultan Ahmed Al Jaber, the United Arab Emirates\u2019 Minister of Industry and Advanced Technology and Managing Director and CEO of Abu Dhabi National Oil Company (Adnoc), commented on the Strait of Hormuz, saying the situation affecting navigation there is not a limited regional issue but impacts global economic stability as a whole.<\/p>\n\n\n\n
The minister\u2019s remarks were published by state news agency WAM<\/a> on Wednesday (1). Al Jaber highlighted the strait\u2019s narrow width\u2014just 33 kilometers\u2014and the essential commodities that pass through it, emphasizing that any disruption in the Strait of Hormuz goes beyond oil supply and affects the daily lives of billions of people, impacting everything from food costs and airfare to energy bills and medicine prices.<\/p>\n\n\n\n \u201cAround 20% of global energy flows pass through this strait, making it a critical factor in determining fuel prices, transportation costs, and the continuity of industrial supply chains. Approximately 50% of global sulfur supplies \u2014 an essential component in pharmaceuticals and fertilizers \u2014 also transit through it, in addition to about 30% of Liquefied Petroleum Gas (LPG), which is vital for everyday household use,\u201d the minister said.<\/p>\n\n\n\n Jaber said Asian economies were the first to be affected, but the repercussions are spreading toward Europe, intensifying inflationary pressures. According to him, the responsibility of the international community requires decisive collective action to ensure freedom of navigation and safeguard global economic stability. He highlighted the importance of adhering to United Nations Security Council Resolution 2817 to guarantee safe passage through the strait.<\/p>\n\n\n\n Read more<\/em>: Translated by Guilherme Miranda<\/strong><\/p>\n
JBS: Flows to Middle East remain unchanged<\/a><\/p>\n\n\n\n