Xinhua News Agency, Beijing, April 20 – Malaysian Prime Minister Anwar Ibrahim stated on the 18th that Petronas, Malaysia’s national oil company, may hold consultations with Russia on oil supply to ensure sufficient national energy reserves.
Anwar pointed out that ongoing geopolitical tensions have directly disrupted global transportation and fuel supplies. Given the sound bilateral relations between Malaysia and Russia, Malaysian enterprises including Petronas are permitted to negotiate with Russia to meet domestic energy demand.
He added that Malaysia will prioritize domestic energy needs in its energy supply arrangements, and provide assistance to friendly countries with surplus energy resources.
On March 12, the US government issued a document temporarily easing sanctions on Russian oil from March 12 to April 11, in response to shocks to global energy markets caused by disrupted shipping through the Strait of Hormuz. On the 17th of this month, Washington extended the relaxed sanctions until May 16.Against this backdrop, multiple Asian nations including Vietnam, Thailand, the Philippines, Indonesia and Sri Lanka have already negotiated or are in talks to purchase oil from Russia.
Russian Prime Minister Mikhail Mishustin remarked on the 7th of the month that amid turmoil triggered by the Middle East crisis, global markets are reaffirming Russia as a reliable energy supplier, and Russia is fully capable of expanding exports of scarce resources such as oil and natural gas.