Bloomberg Surveillance · Tuesday, June 30, 2026
Ellen Wald discusses the shifting perception of the US as an ally among Gulf states, particularly the UAE. Despite prior close cooperation, these nations feel 'somewhat abandoned' due to concerns over Iran's control of the Strait of Hormuz. Wald warns that if the US does not guarantee free passage, these states may seek alternative solutions, potentially reducing their reliance on US political and diplomatic support.
“And yet at the same time, I do think that they felt somewhat abandoned and still feel abandoned because they believe very strongly that Iran should not control the straight of form moves. Iran should not pay tolls or should not demand tolls or any kind of you know, fees for passage to the straight or form moves.”
“If they don't believe that the US will defend free passage in the straight of horm moves, they are going to build pipelines to get around it, and they're not going to necessarily depend on the US politically or diplomatically.”