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Singapore Warns Iran War Could Disrupt Asian Economies

3/23/2026

Summary

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Singapore's Foreign Minister Vivian Balakrishnan warned the war against Iran could trigger a crisis for Asian economies reliant on Middle Eastern energy.
He noted the Strait of Hormuz closure, which handles 20% of the world's oil, has raised prices.
Balakrishnan said Singapore is preparing contingency plans and seeking stability and cooperation.
He expressed disappointment over the breakdown of U.S.-Iran talks and urged balancing ties with the United States and China.

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Story summary

Singapore's Foreign Minister Vivian Balakrishnan warned the war against Iran could trigger a crisis for Asian economies reliant on Middle Eastern energy.
He noted the Strait of Hormuz closure, which handles 20% of the world's oil, has raised prices.
Balakrishnan said Singapore is preparing contingency plans and seeking stability and cooperation.
He expressed disappointment over the breakdown of U.S.-Iran talks and urged balancing ties with the United States and China.