Law on Obligations and Contracts: Answer the following and NO PLAGIA.

Question 1

Albert agreed to import rice from Vietnam and deliver it to Jeremiah. They also agreed that Jeremiah will pay PHP 1800 pesos for each sack of rice deliver. They did this after considering and computing the expenses and the distance between Vietnam and the Philippines and all other expenses. After the execution of the agreement, China declared war against the Philippines and blocked the South China Sea.

With this development, Albert claims that his obligation to import rice and to deliver it to Jeremiah has been extinguished. Is he correct? Explain.