Philippines Seeks US Waiver to Import Russian Oil

The Philippines is seeking an extension of a United States sanctions waiver to resume importing oil from Russia to mitigate critical fuel supply risks. Energy Secretary Sharon Garin announced that the Department of Energy is coordinating with the Department of Foreign Affairs to request this import window through the Philippine ambassador to the United States.

This diplomatic push follows severe global oil disruptions triggered by the outbreak of the US-Israeli war on Iran. The conflict resulted in the cancellation of at least four million barrels of oil shipments destined for the Philippines, causing local diesel prices to double in recent weeks. The urgency of the request is highlighted by the role of Petron Corp., the operator of the country's sole oil refinery, which acted as the consignee for a recent 700,000-barrel shipment of Russian crude.

While awaiting a response from Washington, the Philippine government is pursuing a broader strategy to safeguard national energy security. Garin stated that the government is exploring alternative suppliers in South America, Canada, the United States, Brunei, and India to diversify its energy portfolio. This diversification aims to reduce the country's dependence on any single source and protect the economy from future geopolitical shocks.

The Department of Energy views the current volatility as a prolonged problem rather than a short-term crisis. While officials remain positive about securing the waiver, they are simultaneously vetting these alternative global partners to ensure a stable fuel supply regardless of the US decision.