The Maldives has begun work to establish a national fuel reserve as the government continues to monitor tensions in the Middle East and assess their potential impact on fuel security, essential supplies and wider economic stability.
The update was provided by the Special Cabinet Committee formed by President Dr Mohamed Muizzu in response to the regional situation. Speaking at the committee’s weekly press briefing at the President’s Office, Finance and Public Enterprises Minister Moosa Zameer said sites for fuel storage facilities had been identified in coordination with the Ministry of Economic Development, Transport and Trade and the State Trading Organisation.
Minister Zameer, who chairs the committee, said the selected locations must have strong links to transport networks, favourable weather conditions and the ability to accommodate large vessels alongside berths. He said the first phase of the three-phase project involves assessing the lagoons of two islands near Malé.
According to the Minister, feasibility work on the design and financing of the facility is already in progress, while surveys are expected to begin next week. The government aims to complete the studies within two weeks and submit a detailed report to the President.
The move comes amid public concern that further escalation in the Middle East could affect fuel supplies or global prices. The committee said there is currently no risk to the country’s fuel supply, adding that prices have remained stable despite fluctuations in the international market. It also said there are no present concerns regarding the availability of essential commodities or medical supplies.
Foreign Minister Iruthisham Adam said the government is conducting daily work in line with its foreign policy to prepare for potential risks if the situation worsens. She said this includes bilateral and multilateral engagement, daily monitoring of developments and information-sharing with relevant authorities.
Minister Iruthisham said the Maldives continues to promote its national interest in international forums, while advocating for peace, constitutional rights and the interests of vulnerable Small Island Developing States. She also said efforts are being made to prevent a default.
The committee also reiterated the President’s position that issues must be resolved within legal frameworks and that no individual should be subjected to injustice.
