Not Just Indonesia, Malaysia Also Eyes Russian Oil Amid Energy Crisis

The Malaysian government is opening a new option to maintain national energy resilience amid the global crisis. This is being done by exploring the purchase of oil from Russia through the national energy company, Petroliam Nasional Berhad (Petronas). This step emerges as the Southeast Asian region faces supply pressures due to geopolitical conflicts involving the United States (US), Israel, and Iran, which have disrupted the global oil supply chain in recent weeks. He emphasised that bilateral relations between Malaysia and Russia remain strong, thus opening room for such energy cooperation. “Fortunately, our relations with Russia remain good. Therefore, the Petronas team can negotiate with them,” said Anwar, quoted from Channel News Asia on Monday (20/4/2026). This move positions Malaysia as one of the countries in Southeast Asia beginning to eye Russian oil as an alternative supply amid the global energy crisis. The war has reportedly killed thousands, spreading to Israeli attacks in Lebanon, and driving up oil prices due to the de facto closure of the Strait of Hormuz, a strategic route previously handling about one-fifth of the world’s oil shipments. The situation in that route continues to change. Iran temporarily announced the opening of the Strait of Hormuz but closed it again a day later in response to the US blockade of Iranian ports, which it considers a violation of the ceasefire. As the national oil company, Petronas plays a central role in maintaining Malaysia’s energy supply amid global turmoil. The company has ensured that fuel availability in the national retail network remains secure until the end of June 2026, extending the previous projection by one month.