“Here in Asia, we are especially affected because of our high dependence on energy and other critical supplies from the Gulf. Some countries in our region are already facing fuel shortages,” Mr Wong said, describing the situation as a storm “more severe” than anything Singapore has faced in recent years. Even when the Strait reopens, a return to normal will not be immediate, he added, citing damaged energy infrastructure, uncleared mines in shipping lanes and the need to restore confidence for safe passage. Supply disruptions could persist or worsen, with Singapore facing slower growth and higher inflation this year. “All this will put real pressure on businesses, workers and households,” he said. HARD CHOICES MADE EARLY Singapore is not facing this crisis from a position of weakness, Mr Wong said. “Singapore is better prepared and in a much stronger position today.” He pointed to the reclamation of land, the development of Jurong Island and its refining and petrochemical industries, and the creation of underground storage in the Jurong Rock Caverns. “We made the hard choices …