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Responding to Trump’s rejection of Iran’s latest proposal to end the war, Australia’s Climate and Energy Minister Chris Bowen noted that even if a peace could be brokered, it would be months before the global economy recovered.
“Even if the Straits of Hormuz open tonight, there would still be impacts on supply chains, not just for fuel, but for other things as well,” Bowen said at a press conference in Sydney on Saturday morning.
Itemising the many deals Australia was striking with Asian nations, among others, to maintain supply of fuel and fertiliser, Bowen insisted the nation was “very well-placed to weather this storm — but it would be better if the storm ended”.
Bowen did not rule out further emergency relief as the global fuel crisis drags on, beyond suspending the heavy road user charger and cutting fuel excise in half until the end of June.
“We will always consider what further actions are necessary to provide businesses with support through this, through this very difficult period where fuel prices have gone up right around the world. And of course, we’ll continue to do that.”
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