Ministry of Economy will hold a meeting with Petronas, BNM and MoF to discuss economic impacts of the US-Iran conflict and coordinate a response

KUALA LUMPUR: The Ministry of Economy will convene a coordination meeting with Petroniam Nasional Bhd (Petronas), Bank Negara Malaysia (BNM) and the Ministry of Finance (MoF). The meeting will discuss the potential economic impact on Malaysia from the ongoing conflict between the United States and Iran.

Minister Akmal Nasrullah Mohd Nasir (pic) stated the government aims to avoid starting discussions from scratch. Instead, it seeks to determine necessary decisions should the conflict persist.

“Insya-Allah, I will continue to provide updates on any developments,” he said on social media platform X. He added that the government will strive to minimise the impact on the people and small traders.

In a separate announcement, Akmal Nasrullah confirmed that the price of RON95 petrol will remain at RM1.99 per litre. This assurance comes amid the regional geopolitical tensions.

The conflict escalated in the early hours of Feb 28 when Israel and the United States launched airstrikes on targets in Iran. Tehran later retaliated by targeting US military bases and logistical facilities in several Arab countries.

These actions resulted in widespread airspace restrictions across the Middle East region. The economic coordination meeting is a proactive step to assess and mitigate any fallout for Malaysia’s economy.

 The Sun Malaysia