‘No choice’: Asian nations tap Russian oil under US waivers amid Middle East war

Representative image (AI-generated) With the near-closure of the Strait of Hormuz disrupting global oil supplies, several Asian countries are turning to Russian oil to fill the gap caused by the Iran war. Energy-starved nations in the region are taking advantage of US sanction waivers to secure Russian crude, Bloomberg reported. The Philippines recently received its first cargo of ESPO crude in nearly six years, while South Korea’s first Russian naphtha shipment of the year has arrived at Daesan port and is awaiting unloading. Sri Lanka and other countries are also in talks with Moscow over potential shipments. Why are countries…