Malaysia To Contact Iran For Route Through Strait Of Hormuz Remain Open
KUALA LUMPUR, June 15 (Bernama) -- Foreign Minister Datuk Seri Mohamad Hasan will contact his Iranian counterpart, Seyyed Abbas Araghchi, to request that the crucial oil and liquefied natural gas (LNG) export route through the Strait of Hormuz remain open.
He said that if the strait were to be closed, it could disrupt oil trade routes from the Middle East, leading to a global oil shortage and pushing up prices in the international market.
'There are rumours that Iran may close the supply route in the Strait of Hormuz, which serves as the gateway to the Iran-Oman border, a move that could potentially affect the global oil supply chain.
'This will cause serious complications for the world because a lot of oil supplies come from that area, especially from Iran and Qatar, so we hope that this will not be done and I will try to contact my Iranian counterpart, Araghchi, tonight or tomorrow, to think about it,' he told reporters after opening the Cheras UMNO Delegates' Meeting here today.
He said that while Malaysia understands Iran's current position and the tense situation it faces, the country also bears a responsibility to the international community and the smooth flow of global trade.
The global market, he added, is closely watching developments in the Strait of Hormuz, amid growing concerns that the escalating conflict between Israel and Iran could disrupt shipping traffic through the narrow and strategic passage.
According to a report by Anadolu Agency, the Strait of Hormuz, located between the Persian Gulf and the Gulf of Oman, is a vital sea route, with about a third of global oil trade, or 17 to 20 million barrels of crude oil and condensate, passing through it every day.
About 70 per cent of that amount was sent to Asia, including China, Japan, India, South Korea, Singapore, Thailand, Pakistan and the Philippines, according to the International Energy Agency (IEA).
Meanwhile, Mohamad said the Foreign Ministry had issued a statement asking Malaysians in Iran, Iraq and Jordan to contact the Malaysian embassy in the respective country.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
23 minutes ago
- The Star
Malaysia's current account surplus to remain in surplus this year
KUALA LUMPUR: Malaysia's current account balance is expected to remain in surplus of between 1.5 per cent and 2.5 per cent of gross domestic product (GDP) in 2025, said Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour today. This follows a smaller current account surplus of RM300 million, or one per cent of GDP, recorded in the second quarter of 2025 (2Q 2025), mainly due to cyclical factors such as planned maintenance that disrupted commodity production. This has, in turn, led to a RM5.1 billion quarter-on-quarter drop in mining-related exports and a sharp rise in capital imports following the realisation of data centre investments. "Overall, the current account balance in the first half of this year (1H 2025) remains healthy at 1.7 per cent of GDP compared to 0.9 per cent in 1H 2024," Abdul Rasheed told reporters after announcing Malaysia's 2Q 2025 economic growth here today. He reiterated that the increase in capital imports would strengthen Malaysia's exports in the long term as the operationalisation of data centre investments is expected to contribute to services exports. "We have seen some of this coming already. In addition, higher travel receipts driven by the continued rise in inbound tourism are expected to contribute to the further narrowing of the services account deficit," he said. Abdul Rasheed said the encouraging development is expected to continue into 2026, following government initiatives such as enhancing flight connectivity and the Visit Malaysia 2026 campaign. Meanwhile, Statistics Department Malaysia chief statistician Datuk Seri Mohd Uzir Mahidi, who was also present, noted that Malaysia's foreign direct investment (FDI) in 2Q 2025 recorded a smaller inflow of RM1.6 billion against RM15.6 billion in 1Q 2025, mainly due to sustained inflows in equity injections and higher debt instrument inflows. The equity and debt inflows were, however, partially offset by outflows in reinvestment of earnings, given higher dividend payments and losses registered by some foreign companies in the manufacturing sector, he said. "These FDIs were channelled mainly into the services sector, predominantly in financial activities and information, communications and telecommunication sub-sectors. The FDIs were primarily from Singapore, Japan and the United Kingdom," Mohd Uzir said. - Bernama
The Sun
23 minutes ago
- The Sun
Interim measures curb medical costs and insurance inflation in Malaysia
KUALA LUMPUR: Interim measures to manage rising medical costs remain effective, as ongoing initiatives will strengthen healthcare delivery and help curb medical insurance inflation, said Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour. He said that over the past three years, the government has implemented five key thrusts and 11 recommendations aimed at improving medical services, enhancing implementation, and addressing the rising cost of health insurance premiums. 'For example, we are revamping the medical and health insurance/takaful (MHIT) product. You may be able to see the base product. We are testing it as we go,' he told a press conference after announcing Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) performance here today. The MHIT revamp involves a redesigned base product, to be completed by year-end and rolled out in selected areas next year. Abdul Rasheed said other initiatives involve strengthening the digital health system, expanding cost-effective healthcare options, leveraging primary care providers to reduce implementation costs, and transforming the primary care payment mechanism through digital tools. 'These efforts are expected to bring down payment costs and ensure a more sustainable healthcare system,' he added. Last December, BNM announced interim measures with the insurance and takaful industry to help policyholders facing premium revisions for their MHIT products, aimed at easing their immediate financial burden while preserving coverage. - Bernama
Daily Express
23 minutes ago
- Daily Express
Sabah Dapsy slams Umno Youth chief over Penang protest
Published on: Friday, August 15, 2025 Published on: Fri, Aug 15, 2025 Text Size: Chan with fellow Sabah Dapsy members outside the Luyang police station. KOTA KINABALU: Sabah DAP Socialist Youth (Dapsy) chief Chan Loong Wei has criticised Umno Youth chief Akmal Salleh for leading a protest in Penang despite police advice against it. Chan said the gathering outside a hardware store turned an honest mistake in displaying the national flag into a political act that risked creating division among Malaysians. He lodged a report at Luyang police station on Friday, describing the move as political provocation, noting the shop owner had apologised yet the protest still went ahead. Chan pointed out that Umno Youth had also displayed incorrect versions of the Jalur Gemilang in the past, accusing Akmal of applying double standards by ignoring his own wing's mistakes. He stressed that Sabahans reject politics of intimidation and division, adding that Dapsy would continue to defend the state's reputation for harmony and resist any attempt to import extremist politics. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
