• Russia is looking for new energy consumers in the area.
• Europe, will impose a phased oil embargo on Russian oil this year.
• Both Myanmar and Russia continue to face a number of sanctions from Western nations

A junta official said Myanmar, the latest developing nation to do so amid a global energy crisis, plans to import Russian gasoline and fuel oil to address supply problems and rising prices.

Even though both Myanmar and Russia continue to face a number of sanctions from Western nations due to military coups that deposed elected governments last year and Russia’s so-called “special military operation” invasion of Ukraine, the two nations in Southeast Asia have kept cordial relations.

Russia is looking for new energy consumers in the area since its top export market, Europe, will impose a phased oil embargo on Russian oil later this year.

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

According to the media, fuel oil supplies are scheduled to begin arriving in September.

When Min Aung Hlaing visited Russia last month, according to Zaw Min Tun, he talked gas and oil. Fuel is presently imported into Myanmar via Singapore.

According to him, Myanmar would consider working with China and Russia to explore for oil there.

According to a statement published in a state publication on Wednesday, the military has established a Russian Oil Purchasing Committee, led by a close associate of Min Aung Hlaing, to manage the procurement, importation, and transportation of petroleum at acceptable costs depending on Myanmar’s needs.

Myanmar has had severe power outages and high fuel prices in addition to political turbulence and civil unrest, forcing its military administration to import fuel oil for use in power plants.

Since the coup in February of last year, the price of gasoline has increased by around 350%, reaching 2,300-2,700 kyat (about $1) per litre.

According to media reports, several gas stations across the nation have closed in the last week due to shortages.
Russia is a significant source of arms for the military of Myanmar.

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