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Myanmar to import Russian oil, navy says

The Southeast Asian nation has maintained pleasant ties with Russia, whilst each stay beneath a raft of sanctions from Western nations — Myanmar for a military coup that overthrew an elected authorities final 12 months, and Russia for its invasion of Ukraine, which it calls a “particular navy operation.”

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

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

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 navy has arrange a Russian Oil Buying Committee headed by a detailed ally of Min Aung Hlaing to supervise the shopping for, importing, and transport of gasoline at cheap costs primarily based on Myanmar’s wants, based on a press release printed in a state newspaper on Wednesday.

Along with political turmoil and civil unrest, Myanmar has been hit exhausting by excessive gasoline costs and energy cuts, prompting its navy 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 varied elements of the nation due to shortages, based on media stories.

Russia can be a significant provider of weapons to the Myanmar navy.

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