JAKARTA - Persian Gulf countries are likely to consider alternative supply routes, including pipeline construction, due to the situation in the Strait of Hormuz.
Deputy Foreign Minister Vahid Jalalzadeh previously said Tehran was developing a new legal framework for the Strait of Hormuz that would take effect after the conflict ended, in which Iran plans to cooperate with Oman.
"The Gulf countries will look for alternatives, such as building pipelines," the diplomat said in response to the possibility of strict transit rules for the Strait of Hormuz by Iran, as quoted by the Financial Times as reported by ANTARA from Sputnik, Saturday, March 28.
On February 28, the United States (US) and Israel launched an attack on targets in Iran, including in Tehran, which caused damage and civilian casualties. Iran then retaliated, attacking Israeli territory and US military facilities in the Middle East as a form of self-defense.
The heightened tensions around Iran have led to a de facto blockade of the Strait of Hormuz, the main route for oil and liquefied natural gas shipments from Persian Gulf countries to global markets.
The situation also has an impact on the level of oil exports and production in the region, thus encouraging a spike in prices.
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