MANILA: The Association of Southeast Asian Nations and Russia have agreed to deepen energy cooperation, as the region works to secure supply amid the global crisis sparked by the US war on Iran.
Many Southeast Asian nations rely on the Middle East for crude oil imports, making them among the hardest hit by the energy supply crisis sparked by the closure of the Strait of Hormuz following the US and Israeli attacks on Iran that began on Feb. 28.
Russian President Vladimir Putin hosted Southeast Asian leaders in Kazan for the 11-member bloc’s first in-person summit with Russia in eight years on Wednesday and Thursday, as they marked 35 years of ties.
The summit concluded with several outcomes, including an agreement to “strengthen cooperation to secure and diversify energy supply, including through expanding trade, investment, and long-term commercial partnerships in oil, gas, liquefied natural gas, and electricity,” a joint statement read.
ASEAN and Russia expressed concern “over rising global energy insecurity driven by geopolitical tensions, supply chain disruptions, and market volatility,” and agreed to strengthen crisis preparedness, expand collaboration in energy transition, and work more closely in civilian nuclear cooperation.
