A potential blockade will also

A potential blockade will also have repercussions for Tehran’s bilateral ties with Gulf states, which bear hefty economic stakes in keeping Hormuz open. The United Arab Emirates (UAE), Qatar, and Saudi Arabia export approximately 3 million bpd, 1.5 million bpd, and 5.5 million bpd of oil, respectively, relying instrumentally on the Strait of Hormuz. While Saudi Arabia’s East-West pipeline and the UAE’s Abu Dhabi Crude Oil Pipeline serve as bypass infrastructure apropos of Hormuz, they will not be able to offset the holistic supply chain shocks due to undercapacity issues. Qatar stands to suffer the most acute disruption, as it lacks bypass infrastructure and channels all its energy exports through the Ras Laffan Industrial City on the Persian Gulf. สล็อต