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Leaders of the Association of Southeast Asian Nations (ASEAN) gathered in the Philippines on Friday and adopted a series of measures aimed at reducing the economic fallout from the war in the Middle East, with energy security dominating the agenda. The bloc, which imports over half of its crude oil from the region, is grappling with soaring fuel and electricity prices triggered by the closure of the strategic Strait of Hormuz.

Coverage comparison

Reports from Al Jazeera, Deutsche Welle, and the South China Morning Post all confirm that the summit, held on the central Philippine island of Cebu, focused heavily on the energy crisis. According to Deutsche Welle, the US-Israeli war with Iran and Iran's regional retaliation have caused "major disruptions" to energy markets, particularly affecting Southeast Asian nations reliant on oil and LNG imports via the Strait of Hormuz. The South China Morning Post describes the fuel crisis as the "defining issue" of the summit, noting that Philippine President Ferdinand Marcos Jr. restructured the agenda to prioritize energy security. Al Jazeera reported that the bloc is expected to issue a joint statement calling for the reopening of the strait and improved crisis coordination.

Key claims

  • Energy dependence and impact – Multiple sources report that ASEAN imports more than half of its crude oil from the Middle East, with the bloc's Centre for Energy citing 17% of natural gas imports. The disruption has caused fuel and electricity prices to soar, and rising fertilizer costs are impacting food prices.
  • Emergency measures – The Philippines declared an energy emergency in late March, becoming one of the first countries to do so. President Marcos Jr. has been pushing for an ASEAN-wide oil-sharing pact, which leaders agreed to as part of a voluntary framework. According to Al Jazeera, details remain unclear on how the sharing would work, including cost and prioritization.
  • Long-term strategies – Leaders agreed to develop a regional power grid and fuel stockpile, diversify crude oil sources, and boost the use of renewables and electric vehicles, as outlined in a draft joint declaration. These initiatives, however, are expected to take considerable time to implement.
  • Human impact – Deutsche Welle reports that over 1 million people from Southeast Asia live and work in the Gulf, facing threatened livelihoods due to the conflict. The higher jet fuel costs have also made travel more expensive, reducing tourism demand.

Perspectives

  • Philippine leadership perspective – President Marcos Jr. emphasized the need for ASEAN to demonstrate unity and resolve, stating, "We must ensure regional energy security and resilience." He acknowledged the practical challenges of the fuel-sharing framework, noting, "How is the sharing? Who gets what? How do you pay for it?"
  • Regional economic perspective – Analysts view the energy crisis as the summit's central challenge. Vu Lam, an ASEAN observer, called it the "defining issue," while the South China Morning Post noted that economic ministers identified "practical, concrete response measures" to boost energy and food security.
  • Geopolitical context – Multiple outlets attribute the crisis to the US-Israeli war with Iran, which has led to the closure of the Strait of Hormuz, a chokepoint for global oil supplies. ASEAN's joint statement, according to a leaked draft, will call for the strait's reopening, reflecting the bloc's concern over the broader geopolitical instability.