The Philippines has received its first Russian oil cargo in five years with the arrival of a tanker carrying 100,000 tonnes of crude at Limay in Bataan province earlier this week, reports the Philippine Star and the Moscow Times.
The Sierra Leone-registered tanker Sara Sky docked at Limay, carrying ESPO blend crude loaded at Kozmino port near Vladivostok.
The shipment comes as Manila seeks waivers from Washington to import oil from sanctioned countries. The Philippines, heavily reliant on Middle East supplies, faces risks from hostilities between the US and Iran.
Ambassador to Washington Jose Manuel Romualdez said all options were being considered, including exemptions for Venezuelan and Iranian oil.
The delivery coincided with President Ferdinand Marcos Jr declaring a national emergency over dwindling energy supplies. Energy Secretary Sharon Garin said reserves were down to about 45 days, prompting temporary reliance on Indonesian coal.
Virtually all of the country’s oil and gas transit the Strait of Hormuz, leaving it vulnerable to the Middle East conflict.
The US Treasury authorised Russian crude shipments between March 12 and April 11, enabling the purchase.
Rising oil prices are adding as much as US$150 million daily to Russia’s budget, according to the Financial Times.
Other East Asian nations, including Thailand, Japan and South Korea, are also weighing Russian imports to offset lost supplies.
