(Yicai) April 16 -- The Middle East war poses a greater energy security threat to the Asia-Pacific region than to Europe because it depends far more on Middle Eastern crude oil and has fewer near-term substitution options, according to a Chinese trade expert.

The Asia-Pacific region has limited alternative energy sources, He Weiwen, a member of the executive council of the China Association of International Trade, said in a recent interview with Yicai. Southeast Asian countries are geographically closer to both Europe and the Middle East, but they are relatively far from the Americas, so their reliance on the Middle Eastern is high and is unlikely to decline in the short term, He said.

East Asia, including China, Japan, and South Korea, is in a similar situation, as its dependence on Middle Eastern oil is overwhelming and will not change in the near term either, He said, noting that, as a result, developments in the Middle East have a more direct and significant impact on Asia than on Europe.

Iran effectively shut the Strait of Hormuz in late February after the United States and Israel began airstrikes on the country, including on its energy infrastructure. With ceasefire talks having failed, President Donald Trump said the US would impose a blockade on Iran starting April 13, but several Iran-linked tankers, as well as a Chinese vessel, have crossed the strait since then.

About 10 million barrels of crude oil pass through the Strait of Hormuz every day, accounting for about 22 percent of global seaborne oil supplies, according to data cited by He. This is because around 60 percent of Saudi Arabia's oil exports transit this route, making it a critical lifeline for the world's energy supply.

Europe has already undergone a systemic restructuring of its energy imports from Russia following the outbreak of the Russia-Ukraine conflict, He said, adding that now Asia-Pacific nations are facing similar pressure to adjust their energy imports, even though their options are far more limited.

Despite the direct link between energy security and supply chain stability, He argued that the current situation has not yet shaken the long-term plans of foreign investors. Corporate investment cycles typically span decades, which means that most foreign companies have not yet revisited their strategic deployment in Asia in response to the war, which is expected to be temporary, he said.

To tackle energy risks from the Middle East, China should press ahead with new energy development and actively boost domestic oil production, He suggested. He highlighted the potential of Xinjiang Uygur Autonomous Region, as its oil output reached 66 million metric tons last year, accounting for about 30 percent of China's total, with significant scope for expansion.

Iran has proposed levying transit fees on vessels passing through the Strait of Hormuz. But under the United Nations Convention on the Law of the Sea, international waterways must remain freely navigable, as coastal states have no right to impose charges. He expects the issue to remain subject to negotiation, with the final outcome hinging on whether a durable regional stability can be achieved.

Editor: Futura Costaglione