The GCC should insure itself against the next Strait of Hormuz crisis
Key takeaways
- For that, collective action would be needed now.
- Oman has barely felt any shock as its ports and terminals continue operating as usual.
- Under these circumstances, the GCC states more than ever need to demonstrate unity and address the crisis through collective action.
Why this matters: an international story with cross-border implications worth tracking.
For that, collective action would be needed now.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Oil tanks at Saudi Aramco facility in Abqaiq [File: Maxim Shemetov/Reuters]The crisis caused by the US-Israel war on Iran has affected the member states of the Gulf Cooperation Council (GCC) at different levels.
Oman has barely felt any shock as its ports and terminals continue operating as usual. Saudi Arabia and the United Arab Emirates have been able to reroute some oil exports through terminals in Yanbu and Fujairah, respectively, to bypass the Strait of Hormuz. Kuwait, Bahrain and Qatar, on the other hand, have been practically cut off from the global market and are facing the prospect of economic contraction.