ASEAN Welcomes US-Iran Peace, Energy Security Concerns Persist - TASS
Quick Look
ASEAN members welcome the US-Iran peace agreement but still express concerns over energy security, according to Dato' Sharon Wardini Mohdzani at the Russia-ASEAN Summit in Kazan.
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Why It Matters
The US and Iran reached a peace agreement after a brief conflict, impacting global energy markets.
KAZAN, June 18. /TASS/. Members of the Association of Southeast Asian Nations (ASEAN) welcome the achievement of peace between the United States and Iran, although concerns regarding energy security remain, ASEAN Business Advisory Council Co-Chair and Chairman of EXIM Bank Malaysia Dato' Sharon Wardini Mohdzani told TASS on the sidelines of the Russia-ASEAN Summit in Kazan.
"Of course, one of the main issues that concerned everyone was energy security, namely ensuring sufficient supplies of oil, gas or any other forms of energy. So now that peace has been established between Iran and the United States, this appears to be less of a concern, but it still remains a concern," he said.
The United States and Israel launched a war against Iran on February 28. US, Iranian and Pakistani officials, with Pakistan acting as a mediator, confirmed on June 14 that Washington and Tehran had reached an agreement intended to bring the conflict in the Middle East to an end.
According to Iranian Deputy Foreign Minister Kazem Gharibabadi, during the 60-day ceasefire the parties will discuss, among other issues, Tehran's nuclear program; the US maritime blockade of Iran will end on June 15; and there will be an immediate and permanent cessation of military operations on all fronts, including Lebanon.
US President Donald Trump confirmed on June 17 the signing of a memorandum of understanding with Iran.
What to Watch
AI outlook — possibilities, not facts
Stabilization of oil prices in the short term
Likely · Within weeks
Open Questions
- How will the peace agreement affect long-term oil prices?
- What are the implications for ASEAN's energy security beyond the short term?
