ASEAN Pledges Open Trade, Fuel Sharing Amid Iran War Disruptions

Manila- Southeast Asian nations pledged to keep trade flowing and accelerate an emergency fuel-sharing plan as the Iran war and the closure of the Strait of Hormuz threaten energy supplies and economic stability across the region.

Economic ministers from the Association of Southeast Asian Nations (ASEAN) said they would avoid export bans on essential goods and strengthen regional cooperation on energy, food and supply chains.

Philippine Trade Secretary Cristina Roque said rising oil and transport costs were increasing pressure on food systems and household expenses across the bloc, which relies heavily on imported fuel.

ASEAN also agreed to speed up its regional power grid project and push ratification of the ASEAN Framework Agreement on Petroleum Security to enable coordinated emergency fuel-sharing during supply disruptions.

The issue is expected to feature prominently at the 2026 ASEAN Summit in Cebu next week.