ASEAN Leaders Formulate Crisis Plan to Address Middle East War Impact
Southeast Asian leaders have adopted a contingency plan to mitigate the impact of the ongoing war in Iran on their economies and populations. The plan, discussed at the ASEAN summit in Cebu, Philippines, includes measures such as establishing a regional fuel reserve, planning a regional power grid, and diversifying crude oil sources. The Philippines, significantly affected by fuel price spikes, hosted the summit. President Ferdinand Marcos Jr. emphasized the need for coordinated emergency fuel sharing and the promotion of electric vehicles. The plan aims to address the economic challenges posed by the war, although implementing complex steps like a regional fuel stockpile may take time. 
