THE US war on Iran has exposed the fundamental strategic vulnerability of the Arab Gulf states. The double blockade of the Strait of Hormuz by Iran and the US has significantly affected the oil and gas exports of the GCC states. The impact has varied from state to state. Qatar, Bahrain and Kuwait have been the most affected GCC countries due to their overwhelming dependence on Hormuz for exports. Saudi Arabia and the UAE have managed to partially mitigate the disruption by diverting some oil ...