In a ground-breaking move, Abu Dhabi and Fujairah announced their intent to set up a harbour that allows exporting 70 per cent of Abu Dhabi's oil exports through Fujairah, without passing through the Strait of Hormuz.
The move sounds extremely important due to its strategic, economic and environmental dimensions - not only for the UAE but also for the entire Arabian Gulf region.
Over the past three decades, Gulf navigation faced turbulent conditions and threats, which reached its peak in the mid-1980s when oil carriers were attacked during the so-called "war" on oil tankers.
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