‘There’s No Other Choice’: War-Hit Asian Buyers Grab Russian Oil

Energy-starved Asian nations are taking advantage of US sanction waivers to buy Russian oil to fill gaps caused by the Iran war.

The Philippines took its first cargo of ESPO crude in nearly six years, while South Korea’s first Russian naphtha shipment this year has arrived at Daesan port and is awaiting discharge, according to ship-tracking data. Other countries including Sri Lanka are in talks with Moscow over shipments.