Thailand signals readiness for talks with Russia on crude supplies

Thailand is prepared to begin negotiations with Russia over potential purchases of crude oil, Deputy Prime Minister Phumtham Ratchakitprakarn said during a briefing with journalists on the situation in the Middle East.

Speaking at the briefing, Ratchakitprakarn said Thailand could become one of the countries initiating talks with Russia on oil supplies.

“Thailand will be one of the countries that will now begin negotiations with Russia on the purchase of crude oil. The negotiations will be initiated by Thailand’s Ministry of Energy,” he said.

The deputy prime minister also welcomed the decision by the United States Department of the Treasury to temporarily lift certain restrictions on Russian oil exports, describing the move as good news.

According to Ratchakitprakarn, Thailand currently has sufficient crude oil reserves to last for 98 days.

Earlier, the Treasury Department temporarily removed from sanctions the sale of Russian oil and petroleum products that were loaded onto vessels before March 12. The authorisation allows transactions necessary for the sale, transportation, or unloading of those cargoes.

The exemption applies only to Russian-origin oil and petroleum products already on ships and will remain in effect until April 11.

At the same time, restrictions remain in place for new shipments of Russian oil, as well as for any transactions involving Iran, the Iranian government, or goods and services of Iranian origin.

By Tamilla Hasanova