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Thursday, July 18, 2024

Myanmar to Import Fuel from Russia

This Week

Myanmar’s military government plans to import fuel from Russia in an effort to alleviate supply concerns and rising prices.

Myanmar has maintained close relations with Russia, despite both countries being subject to a slew of Western sanctions.

Reuters reports that Russia is looking for new markets in the region for its energy as Europe, formerly its biggest export partner, is to implement an embargo on Russian petroleum in stages later this year.

“We have received permission to import petrol from Russia,” military spokesperson Zaw Min Tun said at a news conference last week, adding that it was preferred for its “quality and low cost.”

Aside from political and civil unrest, Myanmar has been hard hit by high fuel prices and power outages, prompting its military leadership to turn to imports of fuel for power plants.

In May, the Prime Minister’s Office in Laos directed relevant ministries to seek cheap oil from Russia.

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