Manila: The Philippine government will initiate diplomatic talks with Iran to help ensure the safe passage of its fuel shipments through the Strait of Hormuz, a key global oil transit route, Malaca±ang said Tuesday. Palace Press Officer Claire Castro stated that President Ferdinand R. Marcos Jr. has directed the Department of Foreign Affairs (DFA) to take the lead on the matter as part of efforts to safeguard the country's energy supply.
According to Philippines News Agency, Castro mentioned that President Marcos has instructed Secretary Tess Lazaro to engage with the Iranian ambassador, likely within the week. The diplomatic engagement is set against a backdrop of heightened geopolitical tensions in the Middle East, including escalating hostilities involving Iran and its regional counterparts, which have raised concerns over potential disruptions in global oil supply chains.
The Strait of Hormuz, situated between Iran and Oman, is one of the world's most critical chokepoints for energy trade, with approximately one-fifth of the global oil supply passing through it daily. Any disruption in the waterway, whether due to military escalation, blockades, or security threats, can significantly impact global oil prices and supply availability. Energy-importing countries like the Philippines are particularly vulnerable to such shocks, as the country relies heavily on imported petroleum products to meet domestic demand.
Castro reported that no specific Philippine-bound vessels have been identified as being at risk at this time. She stated, "The Secretary has not mentioned any specific vessels yet." The Marcos administration has been implementing a series of interventions, including diversifying fuel sources, securing existing supply contracts, rolling out fuel subsidies for key sectors, and enforcing energy conservation measures across government offices.
Meanwhile, Castro indicated that the government is still consolidating the total cost of its response to the crisis. "We are currently gathering reports from all agencies. Most probably by next week we can provide the figures," she said. The Palace reiterated that maintaining unimpeded fuel flow remains a top priority as global uncertainties persist.
