The bloc currently imports more than half of its crude oil from the Middle East. Southeast Asian leaders have agreed on measures aimed at reducing the impact of the Iran war on their economies, but conceded that the initiatives will take considerable time to come into effect. On Friday, leaders gathered in the Philippines for a summit of the Association of Southeast Asian Nations (ASEAN), with the closure of the Strait of Hormuz dominating the agenda. Recommended Stories list of 3 items list 1 of 3 US trade with Southeast Asia and Taiwan surging despite Trump tariffs list 2 of 3 Southeast Asia shuts offices, limits travel as oil crisis deepens list 3 of 3 Southeast Asia’s leaders confront fallout from Iran war at ASEAN summit end of list Members agreed to a regional fuel-sharing framework in a bid to ease the economic strain caused by the more than two-month closure of the strategic waterway, which has triggered a global energy crisis.…