UAE Official Says Iran Cannot Be Trusted Over Hormuz
A senior UAE official stated that Iran cannot be trusted with unilateral maritime arrangements. Peace talks remain stalled while oil prices remain elevated.
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The United Arab Emirates warned that Iran cannot be trusted with unilateral Strait of Hormuz security as a blockade chokes 20% of global energy supplies. Brent Crude Oil rose 5.7% this week to $111 per barrel following reports of potential United States military strikes. A prolonged closure of the vital sea channel threatens a global economic downturn as energy prices hit four-year highs.
