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#WATCH | Delhi: UAE Ambassador to India, Abdulnasser Jamal Alshaali says, "The Strait of Hormuz is not open. Access is being restricted, it is being conditioned, it is being controlled. Iran is requiring ships to obtain permission to transit and charging tolls of over $2 million per vessel. That is not freedom of navigation. That is holding the UAE, India and the global economy hostage. A fifth of the world's energy supplies transits the strait each day. For India, the implications are considerable. India is the world's largest crude oil importer. A significant share of that supply, along with LPG, the cooking fuel hundreds of millions of Indian households depend on, moves through this passage. They were prepared for this scenario long ago... Cargo shipments are being rerouted to our East Coast ports at Fujairah, which sits outside this trade. In January, the UAE and India signed a uh $3 billion US dollars LNG supply deal, and both leaders have committed to reaching 200 billion USD in bilateral trade by 2032. Nothing over recent weeks has shaken our confidence in this partnership. Our energy ties with India are not built on a single pipeline or a single contract. This is a deep architecture built for resilience and will overcome this period."
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