The Magazine for Asian Investors
The Myanmar Executive Council said the Myanmar government plans to import gasoline and oil from Russia to ease supply concerns and rising oil prices amid the global energy crisis.
Myanmar maintains friendly relations with Russia as both countries are subject to Western sanctions. Myanmar’s military government was sanctioned for a coup against the government elected last year. Russia was sanctioned for its invasion of Ukraine.
Russia is looking for new customers to sell energy in the region as its largest customer, Europe, will phase out imports of Russian oil this year.
Russia will begin delivering gasoline to Myanmar in September.
During a visit to Russia last month, the junta leaders discussed oil and gas. He said Myanmar would consider producing Myanmar’s oil jointly with Russia and China.
Currently, Myanmar imports fuel through Singapore.