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Abu Dhabi wealth fund central to bypassing Strait of Hormuz

Original: The $300 billion Abu Dhabi sovereign wealth fund and Crown Prince Sheikh Khaled bin Mohamed Al Nahyan, who runs it, have

A $300 billion Abu Dhabi sovereign wealth fund, led by Crown Prince Sheikh Khaled bin Mohamed Al Nahyan, has become central to efforts to build infrastructure that would bypass Iran's grip on the Strait of Hormuz, according to a Japan Times report. The fund is reportedly financing projects aimed at reducing dependence on the strategic waterway, through which much of the world's oil passes and which Tehran has repeatedly threatened to close.

Why now: Ongoing tensions with Iran over the Strait of Hormuz have put Gulf efforts to secure alternative oil export routes in the spotlight.

Abu Dhabi sovereign wealth fundSheikh Khaled bin Mohamed Al NahyanIranStrait of HormuzJapan Times

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