Ferdinand Marcos, the President of the Philippines, declared an energy emergency due to the direct threat to the country's energy supply from the Middle Eastern conflict. A committee was established to ensure the orderly movement and availability of essential goods. The closure of the Hormuz Strait has caused shocks in the global energy market, particularly affecting Southeast Asia. The Philippines is negotiating with Russia and China for oil imports amidst rising oil prices and supply chain disruptions. The emergency declaration allows the government to take coordinated measures to manage risks related to global energy supply and domestic economic disturbances. The emergency will last for one year, ensuring sufficient fuel and oil product procurement. Teljes cikk (Világgazdaság)