UAE warns at UN that Iran’s closure of Strait of Hormuz is destabilising global commodity markets, driving up costs and threatening food and energy security.

IEA warns Hormuz Strait crisis could push global oil markets into a ‘red zone’, draining emergency reserves and driving up fuel prices worldwide.

UAE warns at UN that Iran’s closure of Strait of Hormuz is destabilising global commodity markets, driving up costs and threatening food and energy security.

UAE warns no party should dominate the Strait of Hormuz, urging it remain a free, open waterway as it activates alternative trade routes and support measures.

UAE presidential adviser Dr Anwar Gargash said at a conference in Prague that the Strait of Hormuz is a European energy problem, not a distant regional one, as the region…