Several countries in East Asia are considering increasing imports of Russia as governments seek to stabilize fuel supplies and manage rising energy prices triggered by the ongoing conflict in the Middle East.
The United States Department of the Treasury recently authorized the delivery and sale of Russian crude oil and petroleum products loaded onto ships between March 12 and April 11. The decision has drawn criticism from some European leaders who argue that the move could provide additional revenue to Moscow during the ongoing Russian invasion of Ukraine.
In Thailand, Deputy Prime Minister Phiphat Ratchakitprakarn said the government is preparing discussions on purchasing Russian crude to address potential shortages. Thailand currently holds just over three months of crude reserves and recently suspended fuel exports to conserve domestic supplies.
Authorities in the Philippines are also evaluating the possibility of importing Russian oil, though officials said the final decision will depend on the country’s energy department.
The energy crisis has been intensified by disruptions in shipments through the Strait of Hormuz, a key route for global oil transport. Hostilities in the Middle East have significantly slowed shipping through the narrow waterway, causing supply concerns across Asia.
Japan, which relied on the Middle East for about 94% of its crude imports in 2025, said it would review the option of purchasing Russian oil following the U.S. sanctions waiver. However, Japan maintains large strategic oil reserves equivalent to more than 250 days of consumption.
Meanwhile, foreign and economic ministers from Association of Southeast Asian Nations called for an immediate end to the conflict in the Middle East, warning that surging oil prices and trade disruptions are already affecting Southeast Asian economies.
In Sri Lanka, Foreign Minister Vijitha Herath held talks with Russian Ambassador Levan Dzhagaryan to discuss accelerating oil imports following the U.S. sanctions waiver.
The surge in global oil prices has significantly boosted Russia’s energy revenues, as countries explore alternative supply sources to address shortages and stabilize their economies.