Middle East Economic Survey


No 19


Hormuz Tensions Rise, Abu Dhabi Bypass Pipeline Nears Completion

Tensions rose in the Gulf last week as Irans military conducted war games and Tehrans dispute with the UAE over possession of three strategically important Gulf islands flared up again. Meanwhile, Abu Dhabi is forging ahead with its Hormuz bypass oil pipeline to take its crude oil to the open sea at Fujairah.

The Iranian navys eight days of war games followed a practice by the...