Hormuz tensions risk pushing up fuel and food costs worldwide, Al Jaber says

Dubai: Dr Sultan Ahmed Al Jaber, speaking in Washington, said tensions around the Strait of Hormuz are already translating into higher costs for households globally.

Speaking at the Middle East Institute’s 80th anniversary gala, where he received the 2026 Distinguished Global Leadership Award, Dr Al Jaber dedicated the recognition to President His Highness Sheikh Mohamed bin Zayed Al Nahyan and frontline workers across the UAE.

Following his remarks on the award, he addressed the risks to global supply chains and the effect on everyday prices.

“When Iran holds Hormuz hostage, every nation pays the ransom – at the gas pump, at the grocery store, at the pharmacy,” he said.

Leadership and continuity under pressure

Dr Al Jaber credited the UAE President’s leadership with ensuring stability during a period of heightened tension, pointing to the country’s ability to maintain normal operations even under threat.

“Everything I know about leadership, I learned from one person. His Highness Sheikh Mohamed bin Zayed Al Nahyan. His vision has shaped every chapter of my journey. And I mean every chapter.”

He added that leadership is measured in moments of pressure.

“Performing under pressure. Delivering stability when it matters most. Protecting all people from harm — citizens, residents and visitors alike. And ensuring the nation keeps moving forward, no matter what.”

That continuity, he said, was reflected across the system, from armed forces to essential services, keeping the country functioning without disruption.

“We see it in our armed forces and civil defense, who are keeping the country protected and safe under sustained attack. In nurses who stay at their posts while missiles and drones fly overhead. In engineers who keep the lights on when it would have been easy to stop. No one ordered them to be brave. They simply were.”

Energy flows and consumer impact

The core of his message centred on energy flows and their direct link to everyday costs.

“Energy security is not a slogan. It is the difference between lights on and lights off,” he said, stressing how quickly disruptions can ripple through global markets.

He warned that any threat to the Strait of Hormuz carries immediate consequences far beyond the region.

“Iran weaponisation of the Strait of Hormuz is economic terrorism against the world.”

The impact, he argued, is felt directly by consumers through higher fuel prices, increased transport costs and more expensive food and essential goods.

“No country can be allowed to destabilize the global economy in this way. Not now. Not ever. And I genuinely struggle to understand why the world tolerates what can only be defined as extortion on a global scale.”

UAE US partnership in focus

Dr Al Jaber also pointed to the role of strategic alliances in maintaining stability, highlighting ties between the UAE and the United States.

“UAE–US relationship is a partnership of conviction, tested in peacetime and proven under fire.”

He added that real partnerships are defined by actions during crises.

“You learn who your real partners are when the pressure rises. Not in what they say; but in what they do and how they show up.”

He also reflected on region’s direction, framing the current moment as a decisive phase for the Middle East.

“The Middle East is at a crossroads, with the UAE choosing openness, dialogue and economic progress.”

That choice, he said, has shaped the country’s approach across energy, trade and investment, positioning it as a stable hub at a time when uncertainty continues to dominate global markets.