Thailand is considering the possibility of purchasing Russian crude oil as it looks to secure alternative energy supplies amid disruptions caused by the ongoing conflict in the Middle East, according to comments from Phiphat Ratchakitprakarn, the country’s Deputy Prime Minister.
The move comes as tensions in the Gulf region threaten oil shipments through the Strait of Hormuz, a key global energy transit route.
Thailand relies heavily on Middle Eastern crude for roughly 50% of its oil imports, making the country vulnerable to supply shocks during geopolitical crises.
Officials have said the government is evaluating multiple alternative suppliers, including Russia, the United States, West Africa, Malaysia and Australia, as part of contingency planning to maintain stable fuel supplies.
Thailand currently holds strategic oil reserves equivalent to about 91–95 days of consumption, authorities said, while also exploring other measures such as increasing biodiesel usage and diversifying energy sources.
Energy officials acknowledged that Russian crude could become an option if supply disruptions continue, particularly as it may be available at competitive prices.
However, authorities have also highlighted several challenges, including international sanctions risks, payment complications, higher transportation costs, and refinery compatibility issues, since many Thai refineries are optimized for Middle Eastern crude grades.
The development follows a temporary policy shift by the United States Department of the Treasury, which authorized countries to purchase Russian oil already loaded on vessels at sea.
According to Scott Bessent, the US Treasury Secretary, the authorization is a short-term measure valid until April 11 aimed at stabilizing global energy markets during the conflict involving Iran, Israel, and the United States.
Officials said the measure applies only to oil already in transit and is not expected to significantly benefit the Russian government.
Global oil markets have been volatile after attacks on vessels and energy infrastructure in the Gulf raised fears of a prolonged disruption in supplies.
Brent crude briefly climbed above $100 per barrel earlier this week before stabilizing around that level in Asian trading.
With around one-fifth of global oil shipments typically passing through the Strait of Hormuz, any sustained disruption to the waterway could have major consequences for global energy markets and import-dependent economies across Asia.
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