It's a stupid train of thought, but... Can't they transport oil via land to Oman ports and ship from there on?
Obviously, it won't be able to do humongous quantities, but it's better than nothing, no?
Edit: Nevermind, I got my answer...
Saudi Arabia and the UAE are attempting to bypass the Strait using pipelines to the Red Sea (Yanbu) and the Gulf of Oman (Fujairah), but these routes can only handle about one-third of their usual export volume.
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