US EditionSoutheast Asia’s short-term solution to the global energy crunch? Russian crude.
3 Articles
3 Articles
Local media reported that China's energy import structure is being shaken as the Strait of Hormuz has been closed again due to Iran's blockade and the U.S.'s "counter-blockade." As imports plummeted with the disruption of maritime shipping routes connecting to the Gulf region, China has taken structural measures to diversify supply lines to Southeast Asia and expand domestic crude oil production.
Southeast Asia’s short-term solution to the global energy crunch? Russian crude.
The Middle East conflict, and Iran’s shuttering of the Strait of Hormuz, has thrown the world into its worst energy crisis in decades. Southeast Asia, which relies on the region for over half of its oil and liquefied natural gas imports, has been particularly hard hit, with governments frantically looking for alternative sources of oil and gas. The answer is coming from Russia, a onetime pariah that’s now receiving a steady flow of interest from…
Russia’s Crude Lifeline: How Southeast Asia Dodges the Hormuz Blackout
The Strait of Hormuz sits closed. Iran’s hand on the valve has choked off over half of Southeast Asia’s oil and LNG flows. Refineries idle. Fuel lines grow. And in the void, Russian crude rushes in. Southeast Asian leaders act fast. Pragmatism rules. On April 18, Malaysia’s Petronas kicked off talks for Russian oil supplies, a sharp pivot from 2022 sanctions. Prime Minister Anwar Ibrahim put it plainly to Sinar Harian: “Fortunately, our relation…
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