Russia Broadens Oil Exports as Energy Crisis Shakes Global Markets

(MENAFN) Russia is increasing crude oil deliveries to new and existing partners, including Indonesia and Japan, as both countries seek alternatives amid a worsening global fuel crisis linked to conflict in the Middle East, according to reports.

The situation has been intensified by disruptions in the Strait of Hormuz, a critical maritime route for global energy shipments. The instability has triggered sharp market volatility, with Brent crude briefly climbing to a four-year high before fluctuating significantly.

Commenting on the broader impact, EU foreign policy chief Kaja Kallas warned that the global economy is “reeling” and that there is “no swift exit” from the ongoing standoff affecting energy flows.

Europe has been particularly exposed to the disruption, given its heavy reliance on fuel imports from the Middle East. The closure of key shipping routes has strained supply chains, with energy officials previously warning that reserves could face pressure within weeks.

At the same time, reports indicate that the EU has increased its imports of Russian liquefied natural gas in early 2026, despite prior commitments to reduce dependence on Russian energy sources in the coming years.

Amid these shifts, Moscow has sought to expand its customer base while maintaining strong ties with existing buyers such as India. Indonesia is expected to begin receiving Russian crude shipments soon, with significant volumes projected by the end of the year, according to reports.

Japan has also moved to secure alternative supplies, with one of its refineries reportedly purchasing crude from Russia’s Sakhalin-2 project, with deliveries expected in the near term.

Elsewhere in Asia, the Philippines recently received its first shipment of Russian oil in several years after declaring an energy emergency. Russia has also strengthened its energy cooperation with Vietnam and is engaged in ongoing discussions with Thailand, reflecting a broader strategy to deepen its presence in Asian energy markets during a period of global supply uncertainty.

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