Philippines Seeks Sanctioned Oil Waivers

The Philippines has declared a state of national energy emergency due to its heavy reliance on imported fuel and disruptions caused by the Middle East war. In response, the Philippines is actively working with the United States — United States Department of State to secure waivers and exemptions to purchase oil from US-sanctioned countries, including Venezuela and Iran. The United States has already issued a 30-day sanctions waiver for the Philippines to receive its first Russian crude oil import in five years and another waiver for Iranian oil already at sea. Philippine President Bongbong Marcos has assured the public that the country's fuel supply will not run dry and that the government is exploring alternative sources. The emergency declaration, effective for one year, grants the government special powers to ensure timely and sufficient fuel supply, including advance payments for purchases. The Philippines has also temporarily increased coal-fired generation and allowed the use of cheaper Euro II fuel to alleviate supply pressures.