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Friday, March 29, 2024

PBBM eyes Russian fuel, fertilizer for PH

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President Ferdinand Marcos, Jr. has disclosed that his administration initiated talks with Moscow to explore the possibility of importing Russian fuel and fertilizer.

Presidential spokesperson Trixie Cruz-Angeles however, was mum on the matter, saying for the moment, she cannot reveal details of the negotiations.

In an interview with Bloomberg at the sideline of his six-day working visit in the United States, Marcos said he was looking at Moscow for petroleum products despite the tight global supply of fuel due to the Russia-Ukraine armed conflict.

The U.S. has initiated sanctions against Russia in the process exacerbating further the global oil supply crisis.

But Marcos maintained there may be a need for the Philippines to “approach Russia and say maybe they can loosen up and provide us with some fuel.”

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Asked if he is currently negotiating with Moscow, Marcos answered in the affirmative. “Yes, we are,” he told Bloomberg.

He added that he was also looking into possibility of buying fertilizer and animal feeds from Russia. Country, adding he was considering government-to-government arrangements on the matter.

Marcos also underscored the need to diversify the Philippines’ food supply chain and shift from the traditional sources of fuel.

Russian Ambassador Marat Pavlov has said his government was willing to help the Philippines in terms of energy and supply needs.

Angeles declined to comment on the transactions “until such time that the agreement has been entered into and finalized.”

“We cannot disclose the pending transactions, if any,” Angeles said.

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