Kuala lumpur: Long-term supply agreements for oil, gas, and diesel for at least 20 years will provide stability to the logistics and transportation sectors, said Transport Minister Anthony Loke Siew Fook. He emphasized that energy supply stability is crucial for these sectors as they require certainty and continuous supply to ensure smooth operations. Energy supply stability is a government priority under current conditions and is supported by Malaysia's neutral foreign policy approach and good relations with all countries.

According to BERNAMA News Agency, Loke stated, "We take a bold approach in diplomacy with all countries, particularly major powers such as Russia, the United States, and China. This approach helps ensure the country has access to sufficient and continuous energy resources and supplies," during his address at the Global Maritime Economy Conference 2026. This statement follows Prime Minister Datuk Seri Anwar Ibrahim's remarks in Penang about strategic cooperation with Russia aiding Malaysia's long-term energy needs. Anwar noted assurances from Russian President Vladimir Putin on a 20-year agreement to supply oil, gas, and diesel to Malaysia, highlighting the strong bilateral relationship and friendship.

When questioned about the impact of a 60-day sanctions relief for Iranian crude oil sales on the international market, Loke commented that the relaxation would increase oil supply globally and help stabilize prices. "This development is seen as positive as it provides an opportunity to diversify oil supply sources. However, the current situation remains uncertain and subject to change, so we cannot assume that it is the final outcome," he remarked. Thus, the Malaysian government is implementing a firm approach by diversifying energy supplies and sources to ensure economic stability.

Loke also mentioned the resilience of the country's airlines despite higher operating costs and a slight decline in flights. "However, based on the figures we have seen, the impact on the number of flights in our country is very small compared with other countries, where airlines have suspended services to many destinations," he noted. The minister added that preliminary discussions with airlines on this matter have been held, stressing the importance of the aviation sector's link to tourism and business sectors.