Oil Deal With Russia ‘Yet To Be Decided’ – Marcos

The Philippines will continue to source petroleum products from its non-traditional partners, President Marcos said on Thursday, June 18, even as the US and Iran have signed a peace deal that is expected to stabilize global oil supply.

A possible oil supply deal between the Philippines and Russia “is yet to be decided,” according to Marcos, citing “many complications and geopolitical considerations.”

“Even if the war does come to an end, we, Philippines will still continue to look for so-called non-traditional partners in terms of the supply of petroleum products,” the President told Filipino journalists in an interview in Kazan, Russia, where he concluded a two-day working visit.

Energy security was among the talking points of Marcos’ bilateral meeting with Russian President Vladimir Putin on Wednesday, June 17, on the sidelines of the Association of Southeast Asian Nations-Russia Commemorative Summit in Kazan.

“There have been no firm agreements, but merely an understanding that we will continue to develop what we had already started – as a response to the oil crisis that was the effect of the war in the Middle East, which we are hoping will come to an end soon,” Marcos said.

The Russian government, Marcos said, was “very open” to any kind of suggestion to increase engagements and “that we look further into… getting our supplies of petroleum products from Russia.”

He said Russia has been providing oil products to the Philippines on an ad hoc basis, which means oil from Moscow would only be imported when needed.

While there were no signed agreements, Marcos said the two nations are setting up a mechanism for oil arrangements.

A ship carrying more than 700,000 barrels of crude oil from Russia arrived in the Philippines last March.

Russia to release 24 Pinoys

Twenty-four Filipinos, who have been detained in Irkutsk, Siberia for the past nine months, will be released, Marcos announced on Thursday, following his meeting with Putin.

“I mentioned this when I had a bilateral with President Putin, and he was surprised. He said ‘I didn’t know that. We will look into it. We’ll find out what happened,’” Marcos told Philippine media.

Marcos said Putin told him at the dinner that the 24 Filipinos have not been charged with any wrongdoing but they are still being kept in detention for nine months.

“And now, the 24 Filipinos will be released. They are already for deportation tomorrow by 5 p.m. So, those 24 will be going home to the Philippines, and back to their families,” he said.