Thailand Turns to Russian Oil as Hormuz Shock Hits Asia

OilPrice · Tsvetana Paraskova · last updated March 17, 2026 – 3:48 AM

Thailand has held talks with Russia to potentially buy Russian crude oil, a senior Thai official said on Tuesday, as Southeast Asia first felt the global oil supply shock from the closed Strait of Hormuz. Thailand has discussed the option to buy Russian crude, and negotiations are underway, Thailand’s Deputy Prime Minister Phiphat Ratchakitprakarn said, as carried by Reuters. The U.S. last week issued a 30-day waiver allowing buyers from everywhere to purchase Russian oil on tankers at sea without repercussions. In the early hours…

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