Below is the text of a letter UAE Ambassador to the US Yousef Al Otaiba sent to the U.S.-U.A.E. Business Council on October 19, 2026.
Dear Members and Friends of the U.S.-U.A.E. Business Council,
Below is the text of a letter UAE Ambassador to the US Yousef Al Otaiba sent to the U.S.-U.A.E. Business Council on October 19, 2026.
Dear Members and Friends of the U.S.-U.A.E. Business Council,
Writing in the Financial Times, UAE Ambassador Yousef Al Otaiba explains that the UAE's exit from OPEC reflects the country's progress as a diversified, knowledge-based economy.
"OPEC was built for oil-dependent states. The UAE hasn't been one for a long time," writes Ambassador Al Otaiba, noting that less than a quarter of UAE GDP is now tied to energy.
Affirms Strait of Hormuz Must be Open as Part of Conclusive Outcome to Conflict
Highlights UAE’s Resilience, Strength of Bilateral Partnership in Meetings with US Policymakers
Washington – April 15, 2026 – Speaking today at the Semafor World Economy Summit in Washington, Her Excellency Reem Al Hashimy, UAE Minister of State for International Cooperation, affirmed the UAE’s resilience in the face of Iran’s recent, unpr