Thailand’s Prime Minister Anutin Charnvirakul announced the achievement of an important agreement between Thailand and Iran to guarantee the safe transit of Thai oil vessels through the strategically significant Strait of Hormuz.
This is reported by Finway
Agreement on Security and Stability of Energy Supply
At a press conference, Charnvirakul emphasized that the signed agreement will protect oil tankers heading to Thailand and help reduce the risks of fuel supply disruptions. He noted that this initiative was aimed at addressing concerns raised by recent incidents in the region that affected the stability of fuel imports to the country.
“An agreement has been reached that will allow Thai oil tankers to transit safely through the Strait of Hormuz,” Charnvirakul said at the press conference.
The government leader also stressed that this agreement has increased confidence that similar disruptions, like those that occurred in early March, will not be repeated. According to him, the Thai government will continue to adapt its actions and update measures to minimize negative impacts on the population.
Impact of Instability on Asia’s Energy Sector
The Strait of Hormuz is one of the key global energy corridors: over 80% of the oil and liquefied natural gas transported through this route is directed to Asian countries, according to the U.S. Energy Information Administration. As a result, any disruptions or incidents in the region immediately affect the energy security of Southeast Asia.
Repeated fuel supply issues, including long lines at gas stations in Thailand, have become a serious social and economic problem. In particular, in early March, a Thai cargo ship passing through the Strait of Hormuz was attacked, resulting in three crew members still being reported missing.
Furthermore, the Iranian side continues negotiations to ensure the safety and transit of vessels from other countries. Specifically, on March 20, Iran’s Foreign Minister Abbas Araghchi stated Tehran’s readiness to facilitate the passage of Japanese vessels through the Strait of Hormuz, and dialogue with Tokyo on this matter is ongoing.