Asian Leaders Warn of 'State of War' for Livelihoods -- WSJ

Dow Jones04-02

By Suha Ma'ayeh

Asian leaders issued grave public assessments of the war's economic ripple effects as they announced moves aimed at mitigating the impact on their people and fuel supplies.

In South Korea, President Lee Jae Myung compared the crisis his country is facing to "a state of war for people's livelihoods and the economy." Alleviating measures include an oil price-cap system, ramping up monitoring of supply and demand for fuel products and fertilizers, as well as diversifying oil-supply sources, including by working with the United Arab Emirates to secure 24 million barrels of crude oil.

Lee said the government had prepared a supplementary budget proposal totaling 26.2 trillion won, or more than $17 billion, to boost economic recovery. Of this, over 10 trillion won would be invested in a tripartite package to ease the hardships and burdens caused by high oil prices.

In Malaysia, Prime Minister Anwar Ibrahim outlined steps to ensure energy security and economic stability, including a work-from-home policy starting April 15. Other steps included canceling celebrations marking the end of Ramadan and adjusting energy policies.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 02, 2026 07:58 ET (11:58 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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