Malaysia has become the latest ASEAN nation to decide to negotiate buying oil from Russia after the Middle East war sparked an energy crisis pushing prices sharply higher.
Foreign news agencies report that Malaysia is the latest Southeast Asian country attempting to secure oil from Russia amid the energy crisis resulting from the conflict between the U.S.-Israel coalition and Iran, which has now entered its eighth week.
According to The Star news agency, Prime Minister Anwar Ibrahim said on Saturday (18 Apr) that Petronas, the national oil company, is preparing to negotiate with Russia to purchase oil and ensure sufficient fuel supply for domestic consumption.
Anwar noted that many European and American countries that had previously imposed sanctions on Russia are now competing to buy oil from Russia.
“Fortunately, our relationship with Russia remains strong, so Petronas's team can negotiate with them,” Anwar said, as reported by Sinar Harian, a Malay-language newspaper.
Earlier reports indicated that several other Southeast Asian countries have also contacted Russia or reached agreements to purchase oil from Russia.
On 13 Apr, Indonesian President Prabowo Subianto met Russian President Vladimir Putin in Moscow as part of efforts to strengthen strategic cooperation between the two countries amid shifting global dynamics.
Teddy Indra Wijaya, Secretary to the Cabinet, revealed that the leaders' meeting lasted five hours, beginning with a two-hour bilateral meeting followed by a three-hour one-on-one discussion.
“They reached agreements on various issues, including long-term cooperation in energy and geological resources such as oil and gas, energy security, and adding value across the industry from upstream to downstream,” he said.
Meanwhile, on 14 Apr, Sharon Garin, the Philippine Secretary of Energy, stated that her country has requested the U.S. to extend waivers allowing the purchase of oil and petroleum products from Russia.
Garin added that the Philippines is diversifying its energy sources, with procurement options not limited to Russia alone. The government is also monitoring producers in South America, including Colombia and Argentina, as well as Canada and the U.S.
Last month, Vietnamese Prime Minister Pham Minh Chinh made an official visit to Russia and signed several agreements, including cooperation on oil and natural gas.
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Source:cna