The war in the Middle East continues to spill over into Asia, as countries grapple with sensitive diplomatic issues and elevated oil prices.
On March 4, an American submarine torpedoed an Iranian warship, IRIS Dena, in international waters off the coast of Sri Lanka, killing at least 87 sailors. From February 15–25, IRIS Dena was participating in India-led naval exercises, alongside navies from 40 other countries, including the U.S.
Iran’s foreign minister argued the vessel was “a guest of India’s navy." New Delhi stayed silent for days. Indian external affairs minister S. Jaishankar eventually said the sinking was “the reality of the Indian Ocean.” He pointed out that New Delhi had allowed another Iranian vessel, IRIS Lavan, to dock at an Indian port on March 4.
Thursday is the new Friday
The Philippines, meanwhile, relies on Middle East crude for roughly 98 per cent of its oil. Philippine President Ferdinand Marcos Jr. announced last week that some government offices will switch to a four-day workweek to “conserve energy and reduce fuel use amid rising global oil prices triggered by the ongoing Middle East crisis.” (On Monday night, Pakistan announced a similar four-day workweek.)
Marcos Jr. also directed government agencies to cut energy consumption by up to 20 per cent and advised workers to carpool. The country’s oil stockpile is expected to last until April. China’s oil stockpile, in contrast, is reportedly 900 million barrels, or three months’ worth of imports.
Marcos Jr. also asked the legislature to grant him emergency powers to reduce or suspend taxes on petroleum products. He travelled to New York City earlier this week to discuss the Middle East conflict and drum up support for the Philippines’ bid for a rotating United Nations Security Council seat.
