Asia scrambles to confront energy crisis unleashed by Iran war – with no end in sight

## Summary
The South Asian country has deployed the military to major oil depots and police around fuel stations. Photograph: Mahmud Hossain Opu/AP Analysis Asia scrambles to confront energy crisis unleashed by Iran war – with no end in sight Callum Jones From fuel caps to four-day work weeks, the Middle East conflict has left the world’s top crude oil importing region desperate to shore up supplies Donald Trump has scrambled in recent days to reassure the world that the economic impact of his war on Iran can be contained. China, which has the world’s largest onshore crude stockpiles, is said to have received millions of barrels of oil from Iran since the war broke out. Read more South Korea South Korea is “highly dependent on global ⁠trade and energy imports from the Middle East”, its president, Lee Jae Myung, noted on Monday, as he announced its first cap on domestic fuel prices in almost three decades.

## Article Content
Motorcyclists wait behind a rope for their turn to get fuel at a pump in Dhaka, Bangladesh, on Sunday. The South Asian country has deployed the military to major oil depots and police around fuel stations.
Photograph: Mahmud Hossain Opu/AP
View image in fullscreen
Motorcyclists wait behind a rope for their turn to get fuel at a pump in Dhaka, Bangladesh, on Sunday. The South Asian country has deployed the military to major oil depots and police around fuel stations.
Photograph: Mahmud Hossain Opu/AP
Analysis
Asia scrambles to confront energy crisis unleashed by Iran war – with no end in sight
Callum Jones
From fuel caps to four-day work weeks, the Middle East conflict has left the world’s top crude oil importing region desperate to shore up supplies
Donald Trump has scrambled in recent days to reassure the world that the economic impact of his war on Iran can be contained.
Sure, one of the most important waterways in global trade has,
in effect, been shut for almost two weeks
– but it might reopen before long. In the meantime, US oil-related sanctions on “some countries” will be lifted. And besides, the entire conflict
could be over soon
.
Such vague claims
,
and the release of
hundreds of millions of barrels of emergency crude
from government reserves,
soothed markets, at least for a while. Oil prices, which surged to four-year highs on Monday, fell back
below $100 per barrel, before rising again.
How Iran has used the strait of Hormuz to throttle oil and gas – a visual guide
Read more
But the war continues. Several merchant ships have been struck
in and around the strait of Hormuz
. Iran’s Revolutionary Guards have declared they will not allow “one litre of oil” to be exported from the Middle East if US and Israeli attacks continue.
Across Asia, the world’s top crude oil importing ​region, the rhetoric around the ramifications of this conflict is less important than the reality. In 2025 the continent relied on the Middle East for 59% of its crude imports, according to Kpler.
The Middle East can’t be replied upon right now. The strait of Hormuz, through which about a fifth of the world’s oil supplies and seaborne gas tankers typically pass, remains all but closed for business. Some producers in the region, struggling to ship their oil out to the world, are reducing output.
“The situation is certainly very worrying,” said Yousef Alshammari, the president of the London College of Energy Economics. Even when ship operators feel confident again to send tankers through the strait, oil producers “will need time to bring supply up to its pre-crisis levels”, he added.
“The longer the strait remains closed, the more likely that these stocks will be exhausted, and prices will continue to rise, leading to major global economic crisis,” said Alshammari. “The only solution to this is to reopen the strait and enable navigation to resume.”
Asian countries from Pakistan to
South Korea
have been forced to confront a brewing energy supply crisis.
China, which has the world’s largest onshore crude stockpiles, is
said
to have received millions of barrels of oil from Iran since the war broke out. India
reportedly
ramped up its Russian crude imports after the US
issued a waiver
from sanctions, although hot food and drink is
reportedly
disappearing from menus across the country amid fears of a cooking fuel shortage. Japan, with a stockpile of 350m barrels, is releasing about 80m – equivalent to 45 days of supply – as part of the International Energy Agency’s
largest ever release
.
But the relative comfort inside the continent’s dominant economies is not shared by many of their peers.
Will releasing millions of barrels of oil stockpiles really bring down fuel costs?
Read more
South Korea
South Korea is “highly dependent on global ⁠trade and energy imports from the Middle East”, its president, Lee Jae Myung, noted on Monday, as he announced its first cap on domestic fuel prices in almost three decades.
Thailand
Thailand’s oil fuel fund is spending tens of millions of dollars each day to keep fuel prices artificially low, subsidising consumers. The commerce minister, Suphajee Suthumpun, urged the public not to panic,
according to the Bangkok Post
, telling reporters that the government had prepared scenarios “to cope with any potential impact”.
Bangladesh
Bangladesh started rationing fuel sales last week in an effort to halt panic buying, and closed all universities as it sought to sustain the country’s supplies. The situation has become so serious that the country – which imports the vast majority of its fuel – has deployed the military at major oil depots and police around fuel stations.
Myanmar
Myanmar’s junta introduced rationing, and banned half of private vehicles from the roads, allowing those with even-numbered plates to drive on even dates, and odd-numbered plates on odd dates.
Pakistan
Pakistan is rolling out austerity measures, including school closures and only allowing government offices to operate for four days each w

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## Expert Analysis

### Merits
- Sure, one of the most important waterways in global trade has, in effect, been shut for almost two weeks – but it might reopen before long.
- Across Asia, the world’s top crude oil importing ​region, the rhetoric around the ramifications of this conflict is less important than the reality.

### Areas for Consideration
- Pakistan Pakistan is rolling out austerity measures, including school closures and only allowing government offices to operate for four days each week. “To stabilise the economy we have taken ​difficult decisions,” its prime minister, Shehbaz Sharif, said on Monday.

### Implications
- Photograph: Mahmud Hossain Opu/AP Analysis Asia scrambles to confront energy crisis unleashed by Iran war – with no end in sight Callum Jones From fuel caps to four-day work weeks, the Middle East conflict has left the world’s top crude oil importing region desperate to shore up supplies Donald Trump has scrambled in recent days to reassure the world that the economic impact of his war on Iran can be contained.
- Sure, one of the most important waterways in global trade has, in effect, been shut for almost two weeks – but it might reopen before long.
- In the meantime, US oil-related sanctions on “some countries” will be lifted.
- And besides, the entire conflict could be over soon .

### Expert Commentary
This article covers fuel, oil, energy topics. Notable strengths include discussion of fuel. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 1117.