ADNOC Chief Urges Global Action as Iran Chokes Hormuz Energy Flows

The Group CEO of ADNOC has called on the world to act together to protect the free flow of energy through the Strait of Hormuz in order to avoid a major economic collapse. He described Iran’s actions in the Strait of Hormuz as an act of “global economic extortion,” and emphasized the impact of the blockade beyond just oil markets. Traffic at the Strait of Hormuz has been at a near standstill for over a month now, with a limited number of vessels transiting the world’s most critical oil and gas chokepoint at Iran’s…