PM Wong warns of severe consequences from Middle East energy disruptions, convenes ministerial task force

While recent diplomatic efforts have been made, the differences between the parties remain wide, said Mr Wong.

“The US has indicated that it plans to bring the war to an end soon, even without a negotiated settlement. And if no agreement is reached, it is prepared to intensify military strikes significantly before winding down its campaign,” he said, adding that Singapore hopes these talks succeed.

However, even if a ceasefire is reached soon, Mr Wong pointed out that damaged infrastructure means supply constraints and elevated prices could persist for months.

Singapore must also be prepared for further escalation in the coming days and weeks, as additional strikes remain a risk, along with the possibility of other groups joining the fray, opening new fronts and widening the conflict.

More fundamentally, even after the US eventually ends its military campaign, the geopolitical situation in the Middle East will have been adversely affected, he said.

“We are entering a more uncertain and unstable phase, with wide-ranging implications for regional security and global energy flows,” said Mr Wong.

“In such an environment, the risk of disruption is significantly higher. More worrying still is the possibility of a prolonged closure of the Strait of Hormuz, as well as other key shipping routes in the region, including the Red Sea.”

Mr Wong urged businesses and households to play their part by conserving energy and reducing unnecessary consumption and waste, stressing that national resilience depends not just on government action but also collective effort.

“For businesses, this means reviewing operations and improving energy efficiency. For households, it means being mindful of daily energy use,” said Mr Wong.

“These may seem like small steps, but taken together, they make a real difference. The government will support you. But our collective response will be far stronger if each of us plays our part too.”

He added that while Singapore cannot avoid the impact of global upheavals, it has the plans and capabilities to navigate this, as it has done in past shocks such as the Asian financial crisis and the COVID-19 pandemic.

“We have built strong foundations – sound finances, diversified supply chains, a strong tripartite partnership, and a cohesive society. These are not abstract strengths. They are what will carry us through,” he said.

“So let us stay disciplined and focused, and keep faith with one another.

“Whatever comes our way, we will face it, as one people, one nation. And we will get through this – together.”