Thai Prime Minister reaches deal with Iran for vessels to transit the Hormuz Strait, bypassing Strait of Malacca, amid growing maritime security concerns. The deal aims to reduce reliance on the Malacca Strait, a crucial waterway in Southeast Asia. The pact has sparked concerns among regional nations about potential implications for global oil trade and energy security.

More than 80% of the crude oil and liquified natural gas (LNG) that passes through the Strait of Hormuz heads to Asia, according to the U.S. Energy Information Administration