The Telegraph30 Mar 2026 21:47
Https://www.telegraph.co.uk/gift/5340bf7f784a5365
Bangladesh the first casualty as energy crisis spreads globally
Countries scramble for oil and gas as Trump’s war with Iran limits supply
Drivers in Dhaka, Bangladesh, been made to wait for hours at petrol stations
Drivers in Dhaka, Bangladesh, have been made to wait for hours at petrol stationsCredit: Monirul Alam/EPA/Shutterstock
Joe Barnes, Brussels Correspondent.Matt Oliver, Industry Editor.Allegra Mendelson, Asia Correspondent.Hans van Leeuwen, International Economics Editor.Samaan Lateef.
30 March 2026 9:14pm BST
Bangladesh could become the first foreign casualty of Donald Trump’s war in Iran as it faces running out of oil and gas within weeks.
After weeks of rationing, the government in Dhaka is struggling to formulate a plan and is becoming increasingly desperate at the prospect of running out of fuel, sources have told The Telegraph.
However, the south Asian nation is not the only country facing an escalating energy crisis.
As a result of Iran’s blockade of the Strait of Hormuz, India’s industrial output has slowed. At the same time, the Philippines, Australia and New Zealand are rationing dwindling fuel supplies, while South Korea is considering limits on public consumption.
In some cases, it has forced countries to open talks with China for fuel imports, with Beijing leveraging the crisis.
Forecasts suggest that shortages could start biting in Britain in as little as two weeks should Mr Trump’s military operation in Iran continue.
But Bangladesh, a country of 170 million people, is expected to become the first to run dry. Around 80 per cent of crude oil and oil products shipped through the Strait of Hormuz are exported to Asia, as is nearly 90 per cent of liquefied natural gas (LNG).
Security has been tightened at Bangladesh's fuel depots amid shortages
Security has been tightened at Bangladesh’s fuel depots amid shortagesCredit: Abdul Goni/Anadolu via Getty Images
It imports 95 per cent of its oil and gas needs, with two-thirds of that coming from Gulf states such as Saudi Arabia, the United Arab Emirates and Iraq.
This month the country has imported about 170,000 tonnes of crude oil and diesel. This is down from 332,000 tonnes in the same month last year, as crude imports dried up almost completely.
“The government there is getting increasingly desperate, not sure what to do and how to plan,” a Western source briefed on the country’s woes said.
In late March Bangladesh had 80,000 tonnes of crude oil stored at its Eastern Refinery, enough to keep the country going for about 17 days. Its stocks of diesel and petrol are equally tight.
Bangladesh is struggling to secure more crude and its authorities are frantically scouring the world for new sources of refined products such as diesel and fuel oil.
Officials have asked the US for approval to import 600,000 tonnes of Russian fuel oil, and they have also received 60,000 tonnes from Indone
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