Thailand Implements Immediate Ban on Oil Exports Amid Hormuz Strait Closure

Thailand has announced an immediate ban on oil exports in response to the closure of the Hormuz Strait, according to Jin10. The government has activated the 'Energy Emergency Monitoring Center' to manage the crisis and ensure a 60-day strategic fuel reserve. In an effort to reduce reliance on imported fuel, Thailand has ordered coal and hydroelectric power plants to operate at maximum capacity and increase domestic natural gas production. Additionally, the government plans to use the national fuel fund to subsidize fuel prices, aiming to shield citizens from rising energy costs.