Economy Minister Dr Caoimhe Archibald has sought to reassure households and businesses that her Department is closely tracking global supply chain risks following the recent escalation of attacks in the region.

While there are currently no confirmed impacts on local supply chains, the Department said it has stepped up vigilance as global shipping routes and energy markets respond to rising geopolitical uncertainty.

Dr Caoimhe Archibald said: "My Department is monitoring supply chains, gathering intelligence and coordinating with partners across government. We continue to track developments daily and will work with partners to understand and try to mitigate, where possible, impacts for households and businesses."

The Minister also warned that sustained volatility could have cost implications for consumers and firms. She added: "While wholesale gas prices remain well below the peaks seen during the early stages of the Russia-Ukraine war, as this situation evolves, it is important to recognise that prolonged instability will place further upward pressure on global gas prices. Should that occur, there will be a need for additional support for households and businesses already facing significant cost pressures. I have made, and will continue to make, that case to the British Government.

"These events underline the importance of reducing our reliance on fossil fuels, and international gas markets, by increasing domestic renewable generation and strengthening energy security."

The Department said it will continue working with industry, other government departments and key supply chain partners to maintain preparedness and protect economic resilience.