ASEAN leaders meet to discuss plans to ease Iran war impacts
Key takeaways
- Southeast Asian leaders are meeting in the Philippines, with the economic fallout from the Iran war the main focus.
- The US-Israeli war with Iran and Iran's regional retaliation have caused major disruptions to energy markets and global oil supplies.
- The disruption has caused fuel and electricity prices to soar, while rising fertilizer costs are impacting food prices.
Why this matters: an international story with cross-border implications worth tracking.
Southeast Asian leaders are meeting in the Philippines, with the economic fallout from the Iran war the main focus. Disputes in the South China Sea and border clashes between Thailand and Cambodia are also on the agenda.
https://p.dw.com/p/5DSpq ASEAN leaders were keen to show a united front despite internal divisions Image: Aaron Favila/AP Photo/dpa/picture alliance Advertisement Leaders from Southeast Asia were meeting in the Philippines on Friday for an annual summit, which this year is focused on addressing the damaging impacts of the war in the Middle East.
The US-Israeli war with Iran and Iran's regional retaliation have caused major disruptions to energy markets and global oil supplies. Southeast Asian nations are particularly reliant on oil and LNG imports via the Strait of Hormuz, which has been blockaded by both Iran and the US for weeks.