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FINWIRES

Philippines Reportedly Seeks US Extension for Waiver on Russian Energy Purchases

-- The Philippines has reached out to the US seeking an extension to a waiver allowing it to buy oil and petroleum products from Russia, multiple media outlets reported on Tuesday, citing Secretary of Energy Sharon Garin.

While the government is hopeful of getting an extension on the waiver, it is also making alternative arrangements for procuring supplies if the US declines the request, Garin said at a news briefing on Tuesday.

The government is exploring the possibility of purchases from South American producers, including Colombia and Argentina, along with Canada and the US as it seeks to diversify its energy sources, Reuters reported, citing Garin.

Having the option to import from Russia provides the country with more choices for diversification, the report said.

Philippine ambassador to the US Jose Manuel Romualdez was confident of securing the US approval for the waiver extension, saying other countries have sought a similar extension and they only need to provide details related to quantity and duration to the US State and Treasury departments.

has reached out separately to Garin and the Philippines Department of Energy for comments.

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