Kuala lumpur: A special committee headed by Finance Minister II, Datuk Seri Amir Hamzah Azizan, is being activated to evaluate economic developments and impacts stemming from the United States-Iran conflict, announced MADANI Government spokesperson Datuk Fahmi Fadzil. Fahmi, who also serves as the Communications Minister, stated that the committee's formation aligns with a prior announcement by Prime Minister Datuk Seri Anwar Ibrahim.

According to BERNAMA News Agency, the committee's findings will be presented at a special Cabinet meeting scheduled for this Friday. Prime Minister Datuk Seri Anwar Ibrahim highlighted that Amir Hamzah will lead the special committee with the collaboration of Economy Minister Akmal Nasrullah Mohd Nasir and other relevant ministers. The committee is tasked with evaluating economic impact issues daily to ensure government leadership is updated.

Prime Minister Anwar also reassured that Malaysia's oil supply remains stable, despite the potential global energy market effects due to the regional conflict. He confirmed that the petroleum product supply is sufficient until at least May 2026.

Tensions in West Asia have escalated since February 28, following attacks by Israel and the United States on Iran, which led to Tehran's retaliatory strikes against US interests in Gulf countries. This situation has heightened concerns about the stability of global trade routes, particularly the Strait of Hormuz.

The Strait of Hormuz, located between Iran and Oman, is one of the world's critical shipping routes for oil and gas transportation, with a significant portion of the global energy supply passing through daily. Consequently, geopolitical tensions in this region could impact energy markets, logistics costs, and the global economy.