Iran War Forces Asia and Europe Into Energy Crisis Mode as Countries Ration Power

The escalating US-Israeli war on Iran has pushed governments worldwide into energy triage, forcing hard choices between cutting demand and absorbing soaring costs. Asia faces the greatest pressure, as more than 80% of the liquefied natural gas that passed through the now-blocked Strait of Hormuz in 2024 went to the region. The Philippines has adopted a four-day workweek to cut fuel consumption by a fifth, Vietnam is urging people to work from home, and Thailand has halted fuel exports, causing nearly a third of Cambodia's roughly 6,000 gas stations to close. India, the world's second-largest liquefied petroleum gas importer, is prioritizing household cooking supplies but faces a potential crisis within a week if government subsidies lapse. Indonesia, with only a 20-day fuel reserve, risks rapid price swings after Eid al-Fitr. In Europe, the EU is pursuing emergency energy security measures to reduce consumer bills and protect vulnerable citizens, as energy prices across the 27-nation bloc have risen sharply since the war began.