Philippines’ Marcos Seeks Russian Fuel as Inflation Bites

Country needs to diversify supply, president says in interview
‘National interest’ comes before Ukraine concerns, Marcos says

WATCH: Philippine President Ferdinand Marcos Jr. says his country is holding talks to buy fuel and other key commodities from Russia, despite international sanctions over the invasion of Ukraine. He also says he is open to renewing talks with China on joint oil and gas exploration in the South China Sea.Source: Bloomberg

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By Iain Marlow, Andreo Calonzo, and Shery Ahn

September 23, 2022 at 10:45 PM UTC

Updated on

September 24, 2022 at 9:30 AM UTC

This article is for subscribers only.

The Philippines is talking to Russia about buying fuel and other key commodities because the country’s national interest overrides potential concerns over the war in Ukraine, President Ferdinand Marcos Jr. said in an interview with Bloomberg TV.

Noting that the Philippines can’t be complacent in relying on traditional suppliers, Marcos said the Southeast Asian nation was having conversations with Russia and other countries to diversify its supply chain for food stuffs and agricultural necessities like fertilizer to keep prices down.