In an executive order, Marcos said the situation has created uncertainty in global energy markets, disrupted supply chains, and driven sharp increases in fuel costs, threatening the country’s energy security, News.Az reports, citing Reuters.
The government has formed a special committee to ensure the stable supply and distribution of fuel, food, medicines, and other essential goods. Officials aim to prevent shortages and maintain economic stability as global conditions remain volatile.
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“The declaration will enable the government to implement coordinated measures to address risks to energy supply and the domestic economy,” Marcos said.
The emergency will remain in effect for one year, allowing authorities to respond quickly to potential disruptions in imports and price spikes.
The move highlights how global geopolitical tensions are increasingly impacting economies far beyond the immediate conflict zone.
