Lee, New Zealand PM discuss Middle East situation, energy security in phone call

President Lee Jae Myung spoke Tuesday with New Zealand Prime Minister Christopher Luxon by phone and they shared their thoughts on the current situation unfolding in the Middle East, Cheong Wa Dae said. The two leaders discussed the repercussions that the ongoing U.S.-Israeli war against Iran is having on the global economy and energy supplies, and shared with each other the set of policy measures they have put in place to stabilize livelihoods in their countries, presidential spokesperson Kang Yu-jung said in a written briefing. During the talks, Lee explained that South Korea has implemented a temporary fuel price cap system to help ease cost burdens on fuel, and is reviewing imposing restrictions on naphtha exports. Lee urged South Korea and New Zealand engage in close coordination, noting that cooperation between nations with similar stances is vital in restoring regional peace and stabilizing the global economy. As a country entirely dependent on imports for refined oil, New Zealand put securing safety in the Strait of Hormuz and stabilizing energy supplies high on its priority, Lux

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