SINGAPORE: Singapore said on Wednesday (Apr 8) that it welcomed the two-week ceasefire between the US and Iran, and urged both countries to adhere to the temporary truce.
The agreement was reached on Tuesday, shortly before US President Donald Trump’s deadline for Iran to open the Strait of Hormuz.
The truce will see the suspension of US attacks on Iran for two weeks, and Tehran will in turn temporarily reopen the Strait of Hormuz, a vital global oil thoroughfare, according to Washington.
“We are encouraged that the parties involved have taken this important step towards de-escalation and commend the efforts of the mediators, in particular Pakistan,” said a Ministry of Foreign Affairs spokesperson in a statement.
“We urge all parties to adhere to the ceasefire, halt all attacks on non-belligerent states, and engage in negotiations in good faith that will bring about a lasting resolution to this conflict.”
The ministry added that Singapore further welcomes the commitment under the ceasefire to restoring shipping traffic through the Strait of Hormuz.
“We call on all parties to uphold their obligations under international law, restore safe and unimpeded transit passage in the Strait of Hormuz in accordance with the United Nations Convention on the Law of the Sea, and ensure the safety of seafarers and ships,” said the spokesperson.
Iran effectively shut the strait after US and Israeli strikes on Tehran on Feb 28 sparked the conflict.
The closure sparked higher fuel and electricity prices as about 20 per cent of global oil and nearly a fifth of the world’s gas supply flows through the Strait of Hormuz.
Asia, which is the primary destination for energy supplies shipped through the waterway, was hit hard by the closure, and some countries have implemented export restrictions on fuel or fuel rationing measures.
Singapore has not had to take more drastic measures than those seen in neighbouring countries, as it does not see a need to do so for now, said Coordinating Minister for National Security K Shanmugam on Tuesday.
“Nevertheless, if the supply disruptions increase, and if more suppliers are unable to supply fuel or gas, then potential disruptions to our domestic energy and electricity supply cannot be ruled out,” he had said in parliament.
Analysts have cautioned that the situation remains fragile.
Tehran is demanding future control of Hormuz, uranium enrichment and economic sanctions – terms that are at deep odds with Washington.