Author：Wall Street CN
Malaysia's diplomatic efforts have shown initial success, but the Strait of Hormuz crisis is far from over.
The Malaysian Ministry of Foreign Affairs said on Tuesday thatOf the seven Malaysian commercial vessels stranded in the Strait of Hormuz, one has been granted safe passage and is now en route to its destination.Previously, Prime Minister Anwar Ibrahim spoke with Iranian President Masoud Pezeshkian on March 26, and received a promise from the latter that he would order safe passage for the stranded ships.
This development comes against the backdrop of the de facto closure of the Strait of Hormuz, which has severely impacted global energy markets. The strait typically carries about one-fifth of the world's oil and liquefied natural gas traffic, and its effective closure has triggered widespread market turmoil and a broad energy crisis.
Meanwhile, Trump warned that if Iran fails to reach an agreement by 8 p.m. Eastern Time on Tuesday, the United States may launch a large-scale attack on Iranian infrastructure.
Diplomatic contacts pave the way, and one ship is the first to be granted passage.
According to a statement from the Malaysian Ministry of Foreign Affairs, the safe passage was a direct result of high-level diplomatic contacts. Anwar said on Tuesday that he made it clear to Pezeshkian in a call that the stranded vessel "would cause difficulties" and received assurances that relevant instructions would be issued to facilitate safe passage.
Prior to this, Malaysian Foreign Minister Mohamad Hasan had spoken with Iranian Foreign Minister Abbas Araghchi on March 24.
In a statement, the Malaysian Ministry of Foreign Affairs emphasized that Malaysia is "firmly committed to upholding the principles of freedom of navigation, safety and security of sea lanes in accordance with international law."
Background of the vessels involved: They include several Malaysian energy giants.
According to a March report by The Star,Iran has granted passage to seven Malaysian oil tankers through the Strait of Hormuz, and these vessels will not be subject to Iranian toll fees levied on passing ships.The vessels involved belong to Petroliam Nasional Bhd., MISC Bhd., and Sapura Energy Bhd., respectively.
Malaysia and Iran have long maintained friendly diplomatic relations. Anwar Ibrahim had previously recognized Tehran's right to defend its sovereignty while calling for a swift resolution to the conflict.
Anwar said on Tuesday that despite global uncertainties and potential "price disruptions," Malaysia is not facing an oil supply crisis, as domestic production and long-term import agreements with Australia provide assurance.
The ongoing Taiwan Strait crisis is putting pressure on global energy markets.
The situation in the Strait of Hormuz remains highly tense. According to media ship tracking data, two cargo ships fully loaded with liquefied natural gas appeared to have abandoned their attempts to sail out of the Persian Gulf through the Strait of Hormuz and are now turning towards Qatar.
Trump stated that any agreement to end the Middle East conflict must guarantee freedom of navigation in the Strait of Hormuz, making the reopening of this crucial oil chokepoint a "top priority" in ongoing negotiations with Iran. He also warned that if Iran misses the deadline, the United States might launch a large-scale strike against Iranian infrastructure—including bridges and power plants.
While Malaysia's diplomatic breakthrough has provided a positive signal to the market, the risks of passage through the Strait of Hormuz and uncertainties in energy supply will continue to plague global markets until the overall situation becomes clearer.
