Asian countries are scrambling for Russian crude as the war with Iran disrupts global oil supplies. The US has temporarily eased sanctions on Russian shipments, prompting Southeast Asian nations to act quickly to secure fuel. The Philippines, facing an energy emergency, imported Russian crude for the first time in years, while Thailand and Indonesia explore multiple supply options. China and India, with large stockpiles and early shipments, maintain an advantage over smaller importers. Russia profits from rising demand and temporarily higher prices despite export limits and disruptions from Ukraine. The crisis highlights Asia’s vulnerability to geopolitical shocks and underscores the urgent need for energy security planning, concludes the Financial Times.
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Asian countries are scrambling for Russian crude as the war with Iran disrupts global oil supplies. The US has temporarily eased sanctions on Russian shipments, prompting Southeast Asian nations to act quickly to secure fuel. The Philippines, facing an energy emergency, imported Russian crude for the first time in years, while Thailand and Indonesia explore multiple supply options. China and India, with large stockpiles and early shipments, maintain an advantage over smaller importers. Russia profits from rising demand and temporarily higher prices despite export limits and disruptions from Ukraine. The crisis highlights Asia’s vulnerability to geopolitical shocks and underscores the urgent need for energy security planning, concludes the Financial Times.
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