KUALA LUMPUR, June 26 — Geopolitical tensions in the Middle East present a short-term impact on Malaysia, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
Amir Hamzah said the crisis, which has seen retaliatory attacks in conflict zones, has caused crude oil prices to spike over a short period.
“Oil prices surge sharply as a result of these attacks, but we saw prices coming down again with negotiations.
“The impact right now is short-term. We understand that efforts to maintain peace are ongoing, and Malaysia continues to support initiatives aimed at sustaining peace in the region,” he said after launching SME Bank’s Budget 2025 Initiative.
He emphasised that global peace remains the most critical issue.
In related developments, Brent crude oil prices rose over 3 per cent last week before stabilising following early reports of peace talks by several major powers.
On RON95 subsidies, Amir Hamzah said the government intends to implement targeted subsidies this year.
“If we are to proceed, it must be done properly, just like with diesel. We must ensure the mechanism is right. We are still designing the mechanism and it will be discussed with the Cabinet.
“However, in principle, Prime Minister Datuk Seri Anwar Ibrahim has said we will not impose a high burden. We want to ensure the majority of people will not be affected by this RON95 subsidy adjustment,” Amir Hamzah said.
— Bernama
