The closure of the Strait of Hormuz and ongoing conflict in the Middle East have triggered a severe energy crisis, forcing Southeast Asian nations to seek alternatives for the region's oil and LNG imports. Malaysia and Indonesia are now pivoting toward Russian crude to mitigate the supply crunch. Malaysian Prime Minister Anwar Ibrahim confirmed that Petronas will negotiate for supplies, citing maintained diplomatic ties with Moscow. Similarly, Indonesian President Prabowo Subianto recently met with Vladimir Putin to discuss energy cooperation.
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Source · Fortune
