Moscow, March 25 Russia is set to redirect its hydrocarbon supplies to Asia amid growing demand, the Russian Energy Minister said on Wednesday, without naming any country, amid the ongoing West Asia crisis and the blockage of the Strait of Hormuz.
India and China have been the main importers of Russian sea-based hydrocarbons after the European Union (EU) restricted its imports of crude and natural gas from Moscow due to its invasion of Ukraine, and is set to completely halt it by 2027.
"We have received numerous requests from Asian countries that were receiving supplies, and supply chains that were disrupted, and we are currently actively working on developing contracts for the supply of energy resources from the Russian Federation," Energy Minister Sergei Tsivilyov told reporters here.
He said that contracts for the supply of crude oil, LNG, LPG, and petroleum products are being discussed with most Asian countries.
"We are fulfilling all our obligations under existing contracts, and we have already received many requests for additional and new contracts, which are currently under discussion. These are primarily from Asian countries," he said, without naming specific countries.
According to earlier media reports here, Russia is to start negotiations with Sri Lanka, Philippines, and Thailand in the coming weeks.
Tsivilyov emphasized that Russia has sufficient resources to meet both domestic energy demand and existing and potential new contracts.
The US-Israel joint attack on Iran since February 28 and the retaliation by the Islamic nation, which has extended the war to the entire Gulf region, has significantly impacted energy supply chains, especially across the Strait of Hormuz.
Furthermore, Iran's restrictions on the movement of vessels through the strait and its attack on energy infrastructure in the Gulf region have sent oil prices soaring worldwide.
Meanwhile, Ukraine, which has opposed the lifting of the US ban on sea-based Russian hydrocarbons, has been attacking the main oil exporting terminals of Ust Luga and Primorsk on the Baltic for the last two days, and has been trying to set them ablaze with drone strikes.
The Kremlin spokesman on Wednesday said that Moscow is in contact with Turkey over the Ukrainian threats to blow underwater Blue Stream and Turkish Stream gas pipelines.