Strait of Hormuz is a ‘red line’ and cannot be tolled, UAE trade minister says | The National

Play00:42No country can own Hormuz, UAE minister warnsDr Thani Al Zeyoudi tells Hili Forum that the Emirates' workarounds are viable

UAE says Hormuz is a “red line”, rejecting any attempt by a single country to control access or impose tolls on trade through the waterway.

Abu Dhabi is accelerating alternatives to Hormuz, including eastern ports, new logistics corridors through Oman and a pipeline to export more oil via the Gulf of Oman.

The strategy builds on a June plan to reduce Hormuz dependency to zero, with Mr Al Zeyoudi saying the changes are now permanent rather than temporary workarounds.

Trade data shows the UAE is absorbing the disruption, with non-oil foreign trade reaching a record Dh1.94tn in the first half, up 13.1% year on year.