Saudi Arabia, Kuwait, the UAE and Qatar are raising funds for infrastructure designed to bypass the Strait of Hormuz, including new ports on the Red Sea and Gulf of Oman and pipeline projects.
Gulf nations have issued a record $112 billion in bonds so far this year, more than triple 2022 levels. Saudi Arabia, Kuwait, the UAE and Qatar are tapping debt markets to finance infrastructure aimed at reducing reliance on the Strait of Hormuz, a critical oil shipping chokepoint. The projects include new ports on the Red Sea and Gulf of Oman and pipelines, underscoring a broader push to strengthen export routes and logistical resilience.