Philippines seeks US nod to buy more Russian oil

Philippine Energy Secretary Sharon Garin said Manila has formally requested an extension of the US sanctions easing that previously allowed limited purchases of Russian oil.

She noted that the request was conveyed through the Department of Foreign Affairs to the country’s long-standing ally, the United States.

Supply disruptions strain fuel reserves

The Philippines’ only oil refinery secured around 2.5 million barrels last month, after shipments totalling at least four million barrels were cancelled following the escalation of regional tensions.

About 30 per cent of the country’s crude imports depend on supplies passing through the Strait of Hormuz, while the remainder come from Asian refiners reliant on Middle Eastern oil.

Prices rise amid prolonged uncertainty

Fuel shortages have led to a sharp rise in local prices, with diesel costs reportedly doubling. Garin warned that the crisis may persist beyond the short term, calling it a prolonged challenge for the country’s energy sector.

Exploring alternative suppliers

If approval to import more Russian crude is not granted, Manila is considering alternative sources, including Colombia, the United States, and Canada, as well as closer suppliers such as Brunei and India.

Officials emphasised the need to diversify supply sources to reduce reliance on a single country and ensure long-term energy security.