• The EU warns Southeast Asian countries not to buy Russian oil to avoid funding the war in Ukraine.
  • Due to the crisis in the Strait of Hormuz, Russia has become a key alternative oil supplier for the region.
  • Indonesia plans to import 150 million barrels of Russian crude oil this year.
  • The Philippines received its first Russian oil shipment in five years and seeks a sanctions waiver extension.
  • Thailand and Vietnam are also seeking Russian resources for fertilizers and fuel.
  • Brent crude prices have risen 27% since the start of the Middle East crisis.

Sources & Links