Myanmar to import Russian oil amid supply concerns, military says

Southeast Asian nation has maintained pleasant ties with Russia amid Western sanctions and isolation.

Myanmar's navy administration spokesman Zaw Min Tun has introduced plans to import Russian gasoline and gas oil to ease provide considerations and rising costs [File: Reuters]

Army-ruled Myanmar plans to import Russian petrol and gas oil to ease provide considerations and rising costs, a military spokesperson mentioned, the most recent growing nation to take action amid a world vitality disaster.

The Southeast Asian nation has maintained pleasant ties with Russia, whilst each stay beneath a raft of sanctions from Western nations – Myanmar for a navy coup that overthrew an elected authorities final yr, and Russia for its invasion of Ukraine, which it calls a “particular navy operation”.

Russia is looking for new clients for its vitality within the area as its greatest export vacation spot, Europe, will impose an embargo on Russian oil in phases later this yr.

“We've acquired permission to import petrol from Russia,” navy spokesperson Zaw Min Tun mentioned throughout a information convention on Wednesday, including that it was favoured for its “high quality and low price”.

Gas oil shipments are as a result of begin arriving from September, in line with media.

Zaw Min Tun mentioned military chief Senior Normal Min Aung Hlaing mentioned oil and gasoline throughout a visit to Russia final month. Myanmar now imports its gas by Singapore.

Myanmar would contemplate joint oil exploration in Myanmar with Russia and China, he mentioned.

The navy has arrange a Russian oil buying committee headed by a detailed ally of Min Aung Hlaing to supervise the shopping for, importing and transport of gas at affordable costs primarily based on Myanmar’s wants, in line with an announcement revealed in a state newspaper on Wednesday.

Along with political turmoil and civil unrest, Myanmar has been hit arduous by excessive gas costs and energy cuts, prompting its navy management to show to imports of gas oil that can be utilized in energy crops.

Petrol costs have surged about 350 % because the coup in February final yr to 2,300-2,700 kyat (about $1) per litre (0.26 gallons).

Prior to now week, petrol stations have shut down in varied components of the nation due to shortages, in line with media experiences.

Russia can be a serious provider of weapons to the Myanmar navy.