United Arab Emirates offers to secure Strait of Hormuz amid escalating regional conflict

Mar 17, 2026, 4:35:54 PM UTC(5 hours ago)

Impact: Medium

Affected Assets

Dr Anwar Gargash emphasized the resilience of the UAE following recent drone strikes on Fujairah and Dubai International Airport
Global oil prices have surged by approximately 40 percent in March 2026 due to the virtual blockage of the strait
The UAE has successfully diverted a portion of its oil exports through the Habshan-Fujairah pipeline to bypass the volatile waterway
Shipping insurance rates for vessels transiting the region have increased four to six times over previous baseline levels
US President Donald Trump has called for an international coalition to reopen the strait after several allies initially declined to send warships

SENIOR EMERATI OFFICIAL ANWAR GARGASH: UAE COULD PLAY A ROLE, WITH OTHER COUNTRIES, IN ENSURING THE SAFETY AND SECURITY OF THE STRAIT OF HORMUZ