Saudi Arabia Reportedly Considering Move To Reduce Its Reliance On Hormuz Strait As Iran Seeks To Tighten Its Grip

Source: International Business Times

Saudi Arabia is reportedly considering expanding its pipeline to the Red Sea to reduce its reliance on the Hormuz Strait. Getty Images Saudi Arabia is considering expanding its pipeline to the Red Sea to reduce its reliance on the Hormuz Strait as Iran seeks to tighten its grip on the waterway, according to a new report. Citing five sources familiar with the matter, Reuters detailed that the move would enable the kingdom to transport more oil away from the key waterway.