74 Countries Implement Energy Crisis Measures After Strait of Hormuz Closure (legrandcontinent.eu)
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- Asian economies like Japan, South Korea, China, India, and Taiwan rely heavily on oil transit through Hormuz.
- Most European countries implemented measures, except Denmark, Finland, and Switzerland.
- Egypt enforced early store closures, Ethiopia urged fuel conservation, Madagascar declared an energy emergency.
"Since the closure of the Strait of Hormuz, 74 countries have taken measures to mitigate the energy shock. Asia is the most impacted region: Japan and South Korea sourced 65% and 63% of their oil via this chokepoint. Most European countries condemned Iran's retaliation and supported the US operation, except Spain and Slovenia. In Africa, Egypt imposed early store closures, Ethiopia called for fuel moderation, and Madagascar declared an energy emergency."
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