WEB DESK
In Myanmar, the military-ruled government announced to import gasoline and fuel oil from Russia to ease supply concerns and rising prices. A government spokesperson said that Myanmar would also consider joint oil exploration in the country with Russia and China.
According to a government statement on Wednesday, the military has set up a Russian Oil Purchasing Committee to oversee the buying, importing and transport of fuel at reasonable prices.
Media reports say, fuel oil shipments are due to start arriving from September. In addition to political turmoil and civil unrest, Myanmar has been hit hard by high fuel prices and power cuts, prompting its military leadership to turn to imports of fuel oil that can be used in power plants.
Local media reported that petrol prices have surged about 350 percent since the coup in February last year to 2,300-2,700 kyat per litre. In the past week, petrol stations have shut down in various parts of the country because of shortages.