China, Australia PMs Hold Talks on Energy Security Amid Mideast Tensions
“We talked about the importance of energy security, and how we can work together for the benefit of our nations and our region,” Albanese said, describing the discussion with his Chinese counterpart. He added on social media platform X, “We will continue to engage in dialogue to maintain our stable and constructive relationship. Now more than ever, our relationships with our neighbors matter.”
The call comes amid Australia releasing strategic oil reserves and encouraging citizens to increase public transport usage to conserve energy. Meanwhile, Iran has effectively controlled the Strait of Hormuz, allowing passage only to vessels from “friendly nations.”
Fatih Birol, head of the International Energy Agency, warned that the current oil and gas crisis triggered by the Strait’s closure is “more serious than the ones in 1973, 1979, and 2002 together.”
Australia, which sourced only 2% of its energy imports—worth $37 billion in 2024—from the Middle East, has already halved its fuel tax and, for the first time in decades, ordered emergency fuel reserves from the United States.
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