Bin Farhan: Strait of Hormuz must return to its status before February 28

Saudi Arabia has stated that the Strait of Hormuz must remain free of fees, with Foreign Minister Faisal bin Farhan Al Saud affirming during the UN General Debate that the waterway should revert to its status before February 28, without any fees or restrictions.

He was referring to the period preceding the war on Iran, which began in late February. He said that freedom of navigation must be guaranteed in the Strait of Hormuz, as well as in the Bab al-Mandab Strait, the Red Sea, and the Gulf of Aden.

Iran halted navigation through the Strait of Hormuz following the first US strikes in February, disrupting a significant portion of the region’s oil and gas supplies. The key question now is how the strait will be reopened and under what conditions.

Some exports reach global markets via pipelines and alternative routes. However, the advance of the Iran-backed Houthi group in Yemen has also made it difficult or impossible for Saudi Arabia to export products through the Bab al-Mandab Strait.

Saudi Arabia and Iran have long competed for regional influence. The two countries drew closer in 2023 through Chinese mediation, but the war is placing this rapprochement under severe strain.