Fuel prices are continuing to rise since the United States and Israel began their war against Iran. For Southeast Asia, this is more than another jump in energy costs. As pressure builds on the Strait of Hormuz, governments across the region are scrambling to secure fuel supplies they do not control and cannot easily replace.
Some are opening channels to Iran to protect tanker access. Others are looking for alternative supplies. At the same time, ASEAN is trying to revive emergency mechanisms in case the crisis worsens.
Iran Is Turning Oil Access Into Diplomatic Leverage
As tensions deepen in the Gulf, Iran is using oil as leverage by only allowing friendly countries safe passage through the Strait of Hormuz. Thailand has already tested that approach. Bangkok said one of its oil tankers, anchored in the Persian Gulf since March 11, passed through the strategic waterway without incident on March 23 after diplomatic coordination with Tehran.
Malaysia has also
...
Loading comments...