#oil-importers

#oil-importers

"The energy crunch is doing much more to accelerate the EV transition than any message on climate change," said Lawrence Loh, who heads the Center for Governance and Sustainability at the National University of Singapore (NUS). "Ultimately, it's about what hits your pocket-and the Iran war hits your pocket right away."

We could provide mine-clearance vessels we are good at that, Merz said, adding that a sound legal basis would be needed for such an intervention.

The International Energy Agency (IEA) says it is the 'largest supply disruption in history'. With the disruption expected to have a lasting impact on prices, governments around the world have introduced measures to limit the impact on consumers and the economy.

"As we have made clear, we will pursue global maritime enforcement efforts to disrupt illicit networks and interdict sanctioned vessels providing material support to Iran - anywhere they operate. International waters are not a refuge for sanctioned vessels."

"Fortunately, our relations with Russia remain good," Anwar Ibrahim, Malaysia's prime minister, told local publication Sinar Harian. "Therefore, the Petronas team can negotiate with them."

The IEA sees global oil demand falling by 80,000 barrels per day this year, compared with a projected year-on-year rise of 640,000 bpd in its previous monthly report.

The world's top 100 oil and gas companies banked more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, with Saudi Aramco, Gazprom, and ExxonMobil among the biggest beneficiaries.

The analysis of energy imports reveals significant variations in the percentage sourced from the Middle East across different regions, indicating a complex global energy landscape.

As oil flows come under threat due to the Iran war, parts of Asia are already under strain. Fuel supplies are tightening, prices are rising, and some countries warn stocks may run out.

The war has effectively blocked the Strait of Hormuz, the world's most important oil route, since the end of February and cut exports from OPEC+ members Saudi Arabia, the United Arab Emirates (UAE), Kuwait and Iraq.