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The conflict in Near Eastwhich has been going on for a month now, has shaken the world economy. But it is Asia, highly dependent on oil from the Persian Gulf, that feels the tremor caused most strongly by the Iranian blockade of Strait of Hormuza maritime artery through which nearly 20% of global crude oil used to transit.
India and Pakistan are the most exposed countries, since their energy supply depends largely on these shipments. However, they are not the only ones to suffer the consequences. China, South Korea and Japanthe region’s main importers, already perceive the impact in their daily lives. In some places, the fear of shortages has caused situations that are, to say the least, unique.
This measure is part of an energy saving package that could be expanded if the conflict in the Middle East is prolonged. According to senior officials cited by the agency Reutersthe Executive does not rule out extending movement restrictions to the general population if international oil prices continue to rise.

South Korea is considering imposing nationwide movement restrictions in the face of skyrocketing oil prices.
Finance Minister Koo Yun-cheol slipped it on Sunday, when he spoke of possible restrictions on the use of passenger cars if crude oil prices rise to around $120-130 a barrel, from the range current 100-110 dollars. However, he assured that “a decision on the matter had not yet been made.”
If applied, this measure would represent the first restrictions on vehicular circulation at the national level since the 1991 Gulf Warwhen the Government imposed a 10-day vehicle rotation system to save energy, collects Reuters.
“If the situation in the Middle East worsens, the crisis alert would have to move to the ‘warning’ phase, and in that case we would have to reduce consumption,” Koo said in a local broadcast, referring to an upgrade to the third-highest level in the country’s four-stage resource security crisis alert system.
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