The United Arab Emirates is building alternative routes for its energy exports and trade to ensure they are not “held hostage” by the ongoing war with Iran.
The UAE presidential adviser Anwar Gargash said this on Monday.
The conflict has significantly impacted the oil-rich Gulf Arab states, including the UAE, as Tehran fired missiles at the country and attacked its oil tankers in the Strait of Hormuz.
“Our energy exports will not be held hostage, nor will our trade and economic activity,” Mr Gargash said at the Hili Forum in Abu Dhabi. “The UAE has been expanding port capacity along its eastern coast, as well as pipelines, railways and trade routes for alternative corridors.”
Mr Gargash added that while relations with Iran could be restored, rebuilding trust with its neighbours after the attacks may take decades.
“A functional relationship with Iran can and must be restored, but rebuilding trust is another matter,” Mr Gargash said.
The UAE, a critical economic lifeline for Iran, suspended all financial and economic transactions with the Islamic Republic in August, citing military escalation by Tehran and missile threats.
Mr Gargash also criticised the Gulf Arab states for their response to the Iranian attacks, saying their collective action fell short.
“For many years we broadly agreed on the nature of the challenge posed by Iran. The problem was therefore not a lack of understanding. Where we fell short in confronting this historic challenge was translating this shared understanding into a sufficiently united and strategic response,” he said.
(Reuters/NAN)