The Manila Times : Russia offers oil to PH

14 June 2022

By Kristina Maralit | The Manila Times

PRESIDENT-ELECT Ferdinand "Bongbong" Marcos Jr. on Monday got the commitment of Russia to help the Philippines address the continuing rise in prices of oil and its by-products.

This was shared by Russian Ambassador to the Philippines Marat Pavlov following his courtesy visit to the incoming leader.

"In this turbulent period, we are ready to cooperate with the Filipino side and to extend our helping hand to satisfy the needs in sources of energy," the envoy told reporters, adding that President Vladimir Putin is sending his congratulations to Marcos for winning the presidency last May 9.

Both sides have agreed to continue the discussion "a little bit further" in the coming days, Pavlov further disclosed.

Russia is one of the world's largest exporters of petroleum products. However, because of its invasion of Ukraine last February, the United States and the European Union have banned the importation of oil and oil products from the European country as a sanction.

The Russia-Ukraine crisis has triggered a worldwide spike not just in oil prices but also in other products such as wheat, metals and fertilizers.

Marcos during his campaign called for a peaceful end to the conflict.

Pavlov said that this issue was also "briefly" mentioned during the meeting and that the president-elect has maintained his stance of having an independent foreign policy.

"As far as I understand, the president-elect would like to continue his independent policy and he will cooperate with the Russian Federation," the Russian envoy said.