Kathrine Frich
Western sanctions have kept many countries away from Russian oil.
But the global energy picture is shifting fast, as the war in Iran disrupts key supply routes and puts pressure on countries heavily dependent on the Middle East.
Now, some governments are quietly being pushed into decisions they had long tried to avoid.
Emergency purchase
Petron, the Philippines’ only oil refinery, has bought 2.48 million barrels of Russian crude to secure fuel supplies in the coming months.
According to Bloomberg cited by Money.pl, the purchase was described as an emergency measure aimed at maintaining domestic availability until at least June.
The company’s parent group, San Miguel, indicated that similar purchases could follow if the current crisis continues.
Routes under threat
The decision comes after disruptions along major shipping routes from the Middle East.
Two planned deliveries of crude oil were affected earlier this year, with one unable to pass through the Strait of Hormuz after Iran restricted access, and another canceled due to heightened risks in the Red Sea.
These developments have increased pressure on fuel supplies in the Philippines.
Searching for options
The country relies heavily on Middle Eastern oil, making it particularly vulnerable to regional instability.
Officials have said the Philippines currently holds around 45 days of supply while seeking alternative partners.
Talks are ongoing with countries including Japan, China, South Korea and India to secure additional fuel.
Sources: Bloomberg, Money.pl
