Myanmar To Import Russian Oil, Military Says

Highlights
Military-ruled Myanmar plans to import Russian gasoline and fuel oil to ease supply concerns and rising prices, a junta spokesperson said, the latest developing country to do so amid a global energy crisis.
The Southeast Asian country has maintained friendly ties with Russia, even as both remain under a raft of sanctions from Western countries - Myanmar for a military coup that overthrew an elected government last year, and Russia for its invasion of Ukraine, which it calls a "special military operation".
Russia is seeking new customers for its energy in the region as its biggest export destination, Europe, will impose an embargo on Russian oil in phases later this year.
"We have received permission to import petrol from Russia," military spokesperson Zaw Min Tun said during a news conference on Wednesday, adding that it was favoured for its "quality and low cost".
Fuel oil shipments are due to start arriving from September, according to media.
Zaw Min Tun said junta chief Min Aung Hlaing discussed oil and gas during a trip to Russia last month. Myanmar now imports its fuel through Singapore.
Myanmar would consider joint oil exploration in Myanmar with Russia and China, he said.
The military has set up a Russian Oil Purchasing Committee headed by a close ally of Min Aung Hlaing to oversee the buying, importing, and transport of fuel at reasonable prices based on Myanmar's needs, according to a statement published in a state newspaper on Wednesday.
In addition to political turmoil and civil unrest, Myanmar has been hit hard by high fuel prices and power cuts, prompting its military leadership to turn to imports of fuel oil that can be used in power plants.
Petrol prices have surged about 350% since the coup in February last year to 2,300-2,700 kyat (about $1) per litre.
In the past week, petrol stations have shut down in various parts of the country because of shortages, according to media reports.
Russia is also a major supplier of weapons to the Myanmar military.
Last Updated on August 21, 2022
Great Deals on Used Cars
View All Used Cars
- 46,630 km
- Petrol
- Automatic

- 17,459 km
- Petrol
- Manual

- 53,232 km
- Petrol+CNG
- Manual

- 29,000 km
- Petrol
- Manual

- 72,000 km
- Petrol
- Manual

- 32,400 km
- Petrol
- Manual

- 73,810 km
- Petrol
- Manual

- 72,000 km
- Petrol
- Automatic

- 36,800 km
- Petrol
- Manual

- 65,400 km
- Diesel
- Automatic
Upcoming Cars










Upcoming Bikes










Explore More
Latest News
Related Articles

7 hours ago
Now in its 10th year on sale, Maruti’s compact sedan found the least amount of takers this year in the month of November.

8 hours ago
TVS Motor Company saw a growth of 50 per cent in domestic sales from November 2022.

8 hours ago
The company witnessed an increase in numbers due to the festive season registering a growth of 20 per cent compared to the corresponding month last year

8 hours ago
The Thunder Edition is up to Rs 2 lakh more affordable than the standard Jimny and is available for a limited period.

8 hours ago
Tesla Motors has begun deliveries of the Cybertruck in USA. Currently, there are two models on sale, an AWD variant and the top-spec model, which is dubbed ‘Cyberbeast’.

9 hours ago
The brand has witnessed a YoY growth of 9.7 per cent compared to the corresponding period last year.

9 hours ago
Maruti continued to see strong demand in the utility vehicle and van segments, though small car sales continue to sag.

9 hours ago
The brand has witnessed a dip in sales of 18 per cent when compared to sales from the previous month.

9 hours ago
Previously, in October 2023, the Exter bagged over 75,000 bookings, and the 50,000 mark was reached within the first month of its launch.

8 months ago
Brent crude futures rose 1.8%, to settle at $76.69 a barrel, while U.S. West Texas Intermediate crude (WTI) ended $1.23 higher at $70.90.

8 months ago
India has been the biggest buyer of Russia's benchmark Urals grade crude in March.

8 months ago
Brent crude settled down 1.2%, to $74.99 while West Texas Intermediate U.S. crude futures fell 1%, to $69.26 a barrel.

8 months ago
Brent crude futures fell by 78 cents to settle at $75.91 a barrel. U.S. West Texas Intermediate crude futures slid by 94 cents, to end the session at $69.96 a barrel.

8 months ago
According to the International Energy Agency (IEA), Russia's total exports of oil and petroleum products in February 2023 fell to 7.5 million barrels per day (bpd), from an average amount of 7.7 million bpd in 2022 (7.5 million bpd in 2021).
