It is believed to be the first shipment of Russian oil to the Philippines in five years. Last week, Ramon Ang, CEO of Petron, told AFP the company was "in talks" to potentially purchase Russian oil. The United States this month eased some restrictions on sales of Russian crude, allowing countries to purchase oil that was already at sea until April 11. Kpler analyst Muyu Xu told AFP around 120 million barrels of Russian oil may have been at sea at the time, adding much of it may have already been pre-ordered by Chinese or Indian clients. On Thursday, the Philippines' Department of Energy activated a 20 billion-peso ($332 million) emergency fund that energy secretary Sharon Garin called a "proactive step" to securing fuel supplies.

Source: Bangladesh Sangbad Sangstha March 26, 2026 03:41 UTC