The leader of Malaysia has stated that Iran has granted permission for Malaysian vessels to traverse the Strait of Hormuz, amidst the worldwide energy crisis exacerbated by the conflict between the US, Israel, and Tehran.
Malaysian Prime Minister Anwar Ibrahim conveyed his gratitude to Iran’s President Masoud Pezeshkian for facilitating the prompt clearance of Malaysian vessels through the heavily restricted waterway enforced by Tehran.
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“We are in the process of securing the release of the Malaysian oil tankers and the workers involved so they can continue their journey home,” Anwar says.
The Malaysian government, known for its history of maintaining a neutral stance in global matters, has refrained from issuing a prompt response to inquiries for feedback.
Anwar expounded that although Malaysia had experienced setbacks in energy supply, the country stood in a superior position compared to other nations because of the capabilities of the government-owned oil and gas corporation, Petronas.
Malaysia is regarded as one of the leading global providers of LNG and, as such, operates as a net exporter of energy. Nevertheless, the nation is reliant on imports for approximately 70 percent of its crude oil supply, primarily sourced from the Gulf region.
Anwar announced that his administration would implement various strategies to conserve fuel, such as decreasing the monthly allocation of subsidised petrol for individuals and transitioning civil servants to work-from-home arrangements in a gradual and targeted manner.
“Food supplies are affected; prices will certainly rise. Fertiliser as well, and of course, oil and gas,” Anwar says.
“So there are steps we need to take. There are countries whose impacts are far worse than ours, but that does not mean we are spared entirely,” he says.
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Iran has declared that the strait is accessible to ships that do not have affiliations with the US or Israel. However, Tehran also maintains its authority to monitor and regulate activity in the waterway.
Furthermore, Iran has acknowledged its involvement in at least two out of 20 recorded incidents of assault on commercial vessels in the area. Iran's legislative body is considering a bill to implement a toll system in the strait, as there have been reports of Iranian officials requesting up to $2 million from vessels to ensure their safe transit.
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An increase in vessel traffic was observed in the strait through the automatic identification systems of five ships, as reported by the maritime intelligence firm Windward. According to data from Windward, an average of 120 vessels passed through the waterway daily prior to the war.