DHAKA: Bangladesh has ordered civil servants to switch off the lights and turn down air conditioning to save power as the US-Israel war on Iran worsens an energy crunch, officials said Monday. The South Asian nation of 170 million people imports 95% of its oil and gas needs. The Ministry of Public Administration issued a string of orders regarding office attendance and saving electricity and fuel, ministry official Sakhawat Hossain told AFP on Monday. &quot;Only the necessary number of lights, fans, air conditioners, and other electrical equipment should be used&quot;, the order issued late Sunday read. Energy worriesIt also reminded workers to turn off the lights when they leave and ordered that air conditioning temperatures must be set at 25 degrees Celsius, or warmer. Bangladesh has said it is seeking loans of around $2 billion from multilateral donors to tackle energy worries. The government has already taken several measures to curb fuel consumption, including setting limits on fuel purchases, halting production at most fertilizer factories, and deploying police to patrol filling stations.

Jashore petrol pump Bangladesh (File Photo: BSS)

Bangladesh

Bangladesh is cutting electricity use in government offices and seeking $2 billion in loans as rising global energy pressures strain its heavily import-dependent fuel supply.

Bangladesh turns off lights as US-Israel war on Iran deepens energy crunch 

PARIS: Ministers from the G7 will hold talks on Monday to unpack the economic consequences of the war in the Middle East, the French government said, as oil and gas prices continue to soar. The United States and Israel launched strikes on Iran in late February and Tehran has hit back by targeting crude-exporting countries in the region and halting shipments through the Gulf. The squeeze on supply has pushed oil and natural gas prices higher, with drastic knock-on effects for supply chains in countless industries. French Finance Minister Roland Lescure said the G7 meeting, to be held via videoconference, would include energy and finance ministers as well as central bank chiefs and the heads of other international agencies. &quot;There are already differences in the responses largely linked to differences in exposure to the crisis,&quot; Lescure told a news conference on Friday, stressing that Asia was particularly exposed to the turmoil. &quot;That is one of the reasons why we wanted to convene a G7 of finance, energy and central banks,&quot; he said. He added that the idea was to exchange views on the impact on financial markets and the economy, later telling local media it was the first time in half a century the G7 had used this format.&nbsp;&lsquo;Absolute necessity&rsquo;The G7, an informal grouping of the US, Canada, Britain, France, Germany, Italy and Japan, helps shape policy debates in the world&#39;s wealthiest nations. The United States has sought support from the group to help halt Iran&#39;s blockade of the Strait of Hormuz shipping route. After a meeting last week, G7 foreign ministers said it was an &quot;absolute necessity&quot; for Iran to re-establish free passage through the strait and called for an end to attacks on civilian infrastructure.&nbsp;&nbsp;Governments scrambling&nbsp;Under increasing pressure, many governments have rolled out measures to limit the impact of supply difficulties and soaring energy prices. But a lack of clarity over US war aims, along with uncertainty over the potential length of the conflict and the spread of hostilities, has left governments scrambling for coherent responses. US officials, including President Donald Trump, have said their goals in the war are almost achieved, but thousands of US personnel have been sent to the region in an unprecedented military build-up. Activists based outside Iran say the US-Israeli campaign has killed more than 3,000 people in the country, over half of them civilians, while Lebanese officials have said more than 1,000 have been killed there since Israel began attacking its territory in retaliation for Hezbollah attacks on March 2. Officials in Israel and countries across the Gulf have also reported much smaller numbers of casualties.

Business

The G7, an informal grouping of the US, Canada, Britain, France, Germany, Italy and Japan, helps shape policy debates in the world's wealthiest nations; US has sought support from the group to help halt Iran's blockade of the Strait of Hormuz shipping route.

Articles tagged with "Mideast War"

Bangladesh turns off lights as US-Israel war on Iran deepens energy crunch

G7 ministers set to tackle financial fallout of Mideast war