Malaysia will assess the economic fallout from US and Israeli attacks on Iran, focusing on oil markets and global supply chains, says Economy Minister.

JOHOR BAHRU: The government will examine the impact on Malaysia’s economy following recent attacks by Israel and the United States on Iran.

Economy Minister Akmal Nasrullah Mohd Nasir said several key economic issues require assessment, including Malaysia’s direct relationship with Iran.

He added that the broader geopolitical tensions affecting the global economy also need to be studied.

“It is too early to determine the scale of the disruption to the world’s economic ecosystem, but geopolitical developments cannot be taken lightly,” he said.

The minister highlighted oil and gas production as a critical angle, noting Iran is a major regional and global producer.

He also stated the need to analyse effects on the global economic supply chain.

Akmal spoke after the Seorang Sekampit Beras Campaign at the Sri Stulang People’s Housing Project.

He stressed Malaysia cannot take any global economic disruption lightly and must strengthen domestic economic resilience.

This preparation aims to shield the country from adverse effects during an international crisis.

Commenting on potential rises in global oil and gas prices, he said the matter depends on market mechanisms and decisions by major producers.

“Major manufacturers have certain mechanisms for managing production and price issues. Malaysia is also involved in several mechanisms,” he said.

Tensions escalated after the US and Israel launched an attack, which Israel described as a preemptive move to remove threats.

The attack followed a massive US military buildup in the region to pressure Tehran over its nuclear programme and crackdown on protests.

Earlier, Prime Minister Datuk Seri Anwar Ibrahim called for an immediate and unconditional cessation of hostilities.

He warned the escalating tensions could push the Middle East to the brink of catastrophe.

Anwar also described the attack as a vile attempt to sabotage ongoing negotiations and drag other nations into an uncontrollable conflict.

 The Sun Malaysia