Myanmar to import Russian oil, army says

The Southeast Asian nation has maintained pleasant ties with Russia, at the same time as each stay below a raft of sanctions from Western nations — Myanmar for a army coup that overthrew an elected authorities final 12 months, and Russia for its invasion of Ukraine, which it calls a “special military operation.”

Russia is searching for new clients for its power within the area as its largest export vacation spot, Europe, will impose an embargo on Russian oil in phases later this 12 months.

“We have received permission to import petrol from Russia,” army spokesperson Zaw Min Tun stated throughout a information convention on Wednesday, including that it was favored for its “quality and low cost.”

Zaw Min Tun stated junta chief Min Aung Hlaing mentioned oil and fuel throughout a visit to Russia final month. Myanmar now imports its gasoline by way of Singapore.

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

The army has arrange a Russian Oil Buying Committee headed by an in depth ally of Min Aung Hlaing to supervise the shopping for, importing, and transport of gasoline at affordable costs based mostly 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 onerous by excessive gasoline costs and energy cuts, prompting its army management to show to imports of gasoline oil that can be utilized in energy crops.

Petrol costs have surged about 350% for the reason that coup in February final 12 months to 2,300-2,700 kyat (about $1) per litre.

Previously week, petrol stations have shut down in numerous components of the nation due to shortages, in line with media reviews.

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