Tawon: Ships pass through Hormuz without issues

Algerian President Abdelmadjid Tebboune confirmed that Algerian ships crossing the Strait of Hormuz are doing so normally despite its closure by Iran. He clarified that maritime activity continues without issues and emphasized that Algeria has no problems with anyone; rather, some are the ones creating problems. He stated that these crossings are part of efforts to support the stability of the oil market. Tebboune also noted that Iran welcomed the Iranian President’s visit to Algeria in early September and affirmed that his country will not reverse its decision to sever relations with the United Arab Emirates. Regarding the Western Sahara dispute, he said that Algeria leaves the decision to the concerned parties, pointing to ongoing negotiations between Morocco and the Polisario Front concerning self-governance under Moroccan sovereignty. Additionally, Tebboune announced the allocation of $900 million to compensate wildfire victims, confirming that the fires were deliberately set and that investigations are ongoing. He criticized the International Monetary Fund’s projections of declining foreign exchange reserves, explaining that Algeria is working to diversify its resources to ensure a sustainable income of $50 billion annually, with increased non-oil exports. He forecasted economic growth between 4.01% and 4.02% in 2026.

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