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Will the Iran war finally spur ASEAN into collective action on energy security?
The oil supply shock is a crisis for South-east Asia. But it can also energise political efforts for greater regional cooperation.
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People queueing to buy petrol in Hanoi on March 10 after businesses were urged to encourage their staff to work from home to save fuel. Vietnam sources around 85 per cent of its crude from the Middle East.
PHOTO: REUTERS
Ong Keng Yong
The Strait of Hormuz may be thousands of kilometres from the Philippines, but the global energy crisis arising from the US-Iran stand-off is top of mind as delegates gather this week in Cebu for the ASEAN summit.
There is a certain painful prescience in the choice of this summit’s theme, decided on before the outbreak of the Iran war in February: Navigating Our Future, Together.
