Senator Robin Padilla has expressed full support for Senate Resolution No. 350, a proposed measure seeking to establish an ad hoc committee to address the potential impact of escalating tensions involving the United States, Israel, and Iran.
In a public statement, Padilla said the resolution aims to ensure that the Philippines is prepared to respond to emerging risks stemming from the conflict, particularly its possible economic and social consequences. He emphasized the need for a coordinated government approach through a dedicated crisis body.
The senator warned that prolonged instability in the Middle East could drive global oil prices higher, with projections reaching up to $200 per barrel. Such a scenario, he said, may trigger stagflation—a combination of slow economic growth, rising unemployment, and increasing prices of basic goods.
Padilla also raised concerns over the welfare of overseas Filipino workers (OFWs) in the region, noting that millions of Filipinos could be exposed to security risks. Any disruption to their employment or remittances, he added, would have a direct impact on the Philippine economy.
Beyond labor concerns, the senator flagged the risk of a broader crisis affecting food and energy supply, citing how rising transportation and production costs could ripple across multiple sectors.
He underscored that forming the proposed committee would allow the government to craft a “proactive response and oversight” strategy, ensuring that the country remains stable amid external shocks.
“The resolution is the first step to ensure that the Philippines remains resilient in the face of tensions in the Middle East,” Padilla said.
