Prime Minister Anwar Ibrahim, who also serves as Finance Minister, stated on March 22, 2026, that Malaysia remains a net importer of oil. He highlighted the nation's energy security vulnerability, noting that nearly 50% of the country's oil supply passes through the Strait of Hormuz, a critical global chokepoint for oil shipments.
The Prime Minister made these remarks in the context of discussing government subsidies designed to shield citizens from global energy price volatility. He indicated that these subsidies have increased significantly, though the specific figure of RM700 million mentioned in initial reports could not be independently verified against official government statements from today.
The Strait of Hormuz, located between the Persian Gulf and the Gulf of Oman, is one of the world's most important oil transit corridors. Any disruption there can have immediate effects on global oil prices and the energy security of importing nations like Malaysia.
