Malaysia’s Sultan Nazrin Shah warned that the closure of the Strait of Hormuz could trigger a severe economic crisis across the entire ASEAN region. He noted that rising energy prices, coupled with conflicts in the Middle East, are driving up global food prices and increasing inflation.

The closure of the Strait of Hormuz has affected every Asean nation, with a crisis looming, according to Malaysia’s Sultan Nazrin Shah. The Perak ruler said the ongoing conflict in the Middle East would directly affect the economies of countries in the region. “The surging prices of energy, fertilisers and transport are driving up food prices, increasing production and distribution costs, and fuelling inflation. The worst affected are countries with low energy reserves,” he said in his keynote.....