UAE defends OPEC exit; Warns Hormuz must stay open amid West Asia tensions

Abu Dhabi: Days after the UAE formally exited the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ grouping, industry and advanced technology minister and ADNOC Group CEO Sultan Ahmed Al Jaber said the move was a sovereign decision, not directed against anyone and asserted that the Strait of Hormuz must never be 'held hostage' or used as a tool of coercion.

Speaking at MIITE 2026 in Abu Dhabi on Monday, he said that freedom of navigation is non-negotiable and safeguarding the waterway goes beyond regional concerns and is vital for global economic stability. MIITE (Make It In The Emirates) is the first major official event after the 2026 regional conflict.

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Meanwhile, an ADNOC-owned tanker was struck by two Iranian drones while transiting the Strait of Hormuz on Monday, but no injuries were reported. The UAE ministry of foreign affairs in a statement described the incident as a "terrorist attack" and called it a serious violation of international maritime law and a threat to global energy security.

"When a vital artery such as the Strait of Hormuz is closed, it does not only affect one region, but it also affects the entire global economy...Our position on this issue remains firm and clear...the Strait of Hormuz must never be held hostage or used as a tool of economic coercion and extortion," said Al Jaber.

The Strait of Hormuz, which accounts for a fifth of the global oil flow, has been effectively closed since March 3 due to the US-Iran war.

He added that any change to the strait's legal status "would constitute a dangerous and unacceptable precedent and a direct threat to global economic security."

UAE minister of energy and infrastructure Suhail Mohamed Al Mazrouei Monday said at a panel discussion at MIITE that no single country or group must be allowed to control the Strait of Hormuz. "The world must recognise the consequences of such control. Any disruption impacts not just the Gulf or the UAE, but consumers, and especially poorer nations, globally," he said.

On the UAE exiting OPEC and OPEC+ last week, Al Jaber said that it was a carefully considered strategic decision that reflects UAE's confidence in its capabilities, and its ambition for a more diversified economy.

Strengthening domestic defence capabilities

Meanwhile, UAE residents received at least three emergency alerts regarding a potential missile threat, first time since April 8 when ceasefire was announced.

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On domestic defence capabilities, Faisal Al Bannai, advisor to the UAE President for Strategic Research and Advanced Technology Affairs and chairman of EDGE Group that locally developed and produced jammers that tackled 85% of drones that targeted the UAE. He added that while the UAE has reached self-sufficiency in soft-kill air defence capabilities, including the jammers that were used during the conflict, it is targeting full domestic capability in key defence areas.

Domestic investments to be priority

The UAE is preparing to announce major domestic investment projects aimed to strengthen infrastructure, strategic sectors and public-private partnerships, Thani Bin Ahmed Al Zeyoudi, UAE minister of foreign trade, said. He said that while the sovereign wealth funds will continue with their international commitments, domestic investments, particularly in infrastructure and development, will remain a priority.