US EditionPhilippines Seeks US Extension on Waiver to Buy Russian Oil
The Philippines has about 50 days of petroleum supply as officials seek more options from Russia and other suppliers, Garin said.
- On Tuesday, the Philippines requested that the US extend a sanctions waiver allowing Manila to import Russian oil, as the previous 30-day waiver expired on April 11 amid supply shortages.
- Conflict in the Middle East has severely disrupted global supply chains, forcing the Philippines to seek nontraditional suppliers after losing at least four million barrels in shipments since the US-Israeli war on Iran began.
- Philippine Energy Secretary Sharon Garin stated Manila is "awaiting their response" on the waiver extension while exploring alternative suppliers including Brunei, India, Colombia, and Argentina to diversify energy sources.
- President Ferdinand Marcos approved the suspension of excise taxes on liquefied petroleum gas and kerosene on Monday to provide relief as the Philippines maintains approximately 50 days' worth of petroleum supply.
- Philippine Ambassador Jose Manuel Babe Romualdez confirmed the request is being processed for US consideration, as the Energy Department views the fuel shortage as a prolonged problem requiring long-term diversification.
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14 Articles
Philippines seeks US nod to extend Russian oil imports amid supply risks
The Philippines is seeking an extension of a United States sanctions waiver to allow continued oil imports from Russia, as the government moves to secure fuel supply amid ongoing global disruptions, the Department of Energy said.
Philippines seeks US nod to extend Russian oil waiver - BusinessWorld Online
THE Philippines has begun diplomatic talks with the US to extend a waiver allowing Manila to import Russian oil, as the government seeks to secure supply amid volatile global markets, the Energy department said. “We are awaiting their response, but we are very positive on getting this other window,” Energy Secretary Sharon S. Garin told a news briefing at the Presidential Palace on Tuesday. The 30-day waiver, which allowed the Philippines to buy…
The Philippine government has requested that the United States extend its exemption to allow it to continue purchasing oil from Russia, amid efforts to diversify the country's energy sources.
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