Seoul: President Lee Jae Myung spoke with New Zealand Prime Minister Christopher Luxon by phone to share their thoughts on the current situation unfolding in the Middle East, Cheong Wa Dae stated.

According to Yonhap News Agency, the two leaders discussed the repercussions that the ongoing U.S.-Israeli war against Iran is having on the global economy and energy supplies. They shared the policy measures they have implemented to stabilize livelihoods in their countries, as stated by presidential spokesperson Kang Yu-jung 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 the possibility of imposing restrictions on naphtha exports. Lee urged closer coordination between South Korea and New Zealand, emphasizing that cooperation between nations with similar stances is crucial in restoring regional peace and stabilizing the global economy.

New Zealand, being entirely dependent on imports for refined oil, put securing safety in the Strait of Hormuz and stabilizing energy supplies as top priorities, Luxon noted. Luxon also praised the joint statement signed by the two nations calling on Iran to stop attempts to block commercial traffic in the strait and expressed hope to maintain close coordination on relevant issues.