Strait Of Hormuz Reopening A Positive Step, Supply Security A Priority -- Akmal Nasrullah

KUALA LUMPUR, April 18 (Bernama) -- Economy Minister Akmal Nasrullah Mohd Nasir today described Iran’s commitment to keeping the strategic Strait of Hormuz open as a positive step.

He said his ministry is continuously monitoring the situation, including the commitment expressed by Iran’s Foreign Ministry regarding the reopening of the strait during the agreed ceasefire period.

“At present, we view positively the commitment to reopen the Strait of Hormuz, as we know there is a supply issue,” he told the media after launching the National Investment Programme organised by Bursa Malaysia here today.

According to him, markets have rallied on the development, but the ministry understands the situation remains uncertain with continuous volatility.

“The market is still volatile, with uncertainty and up and down movements,” he said.

Akmal Nasrullah assured that the Economy Ministry will assess the overall impact on the nation’s economy and ensure the highest level of preparedness, especially in terms of supply security.

“Ensuring access to supplies is certainly the top priority, as well as making sure economic activities continue as expected,” he added.

On Friday, Iranian Foreign Minister Abbas Araghchi declared the full reopening of the Strait of Hormuz to all commercial vessels for the remaining period of the ceasefire, in line with the ceasefire in Lebanon.

Earlier, on Thursday, United States President Donald Trump announced a 10-day ceasefire between Israel and Lebanon.

-- BERNAMA