UAE Presidential Adviser Gargash says more realistic approach needed beyond MoU

Sagar Dua FXStreet

United Arab Emirates (UAE) Presidential Adviser Anwar Gargash said during the European trading session on Monday that political solutions must begin with de-escalation and restoring normal shipping through the Strait of Hormuz, a key passage to almost one-fifth of global energy supply.

UAE Presidential Adviser Gargash also said that a more realistic approach is needed beyond the memorandum of understanding (MoU) that failed to provide a practical and acceptable roadmap.

Separately, the UAE Defense Ministry reported that it intercepted an Iranian drone over its regional waters on Monday. A Ministry statement conveyed by the state-run news agency (WAM) affirmed readiness to handle all threats and continuous round-the-clock monitoring.

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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