HeadlinesBriefing favicon HeadlinesBriefing.com

Iranian missile hits UAE tanker amid Hormuz talks

Financial Times Markets •
×

The United Arab Emirates said an Iranian missile struck one of its tankers as it transited the Strait of Hormuz on Saturday, the fourth such assault on the Gulf state’s vessels this week. The attacks continue despite talks between Iran and Oman aimed at creating a temporary route through the vital waterway, underscoring the difficulty of reducing hostilities in the region.

Over the past two months the UAE has used diplomatic channels and economic incentives – allowing Iranian airlines to resume flights to Dubai and restoring dhow trade – to ease tensions. The UAE bore the brunt of Iran’s retaliation after the US and Israel launched their war against the Islamic republic in February, with Iranian forces firing almost 3,000 missiles and drones at the region’s dominant trade, tourism and finance hub.

In June, the UAE’s oil production averaged 4.1mn barrels a day, the highest since the IEA’s records began, thanks in part to an overland pipeline from Abu Dhabi National Oil Co to Fujairah that bypasses the strait.

Abu Dhabi National Oil Co said 15 of its vessels had been targeted in the strait since the war erupted, including three in the past week, causing one fatality and 20 injuries. The latest attack caused no casualties, and the company said the situation has been brought under control.