BANGKOK — The Philippines imported Russian crude oil in March 2026 for the first time in five years, as military operations by the United States and Israel against Iran, which began on February 28, 2026, disrupted global energy supplies. The Philippines, Indonesia, Thailand and Vietnam all signaled interest in importing Russian crude during March 2026 as the conflict reduced global oil supply by approximately 20%.

The Strait of Hormuz was mostly closed to shipping, limiting oil shipments to Asia, while Iran-backed Houthi rebels entered the conflict and created additional threats to maritime routes. Before the conflict, the Philippines sourced nearly 97% of its seaborne oil imports from the Middle East, according to Kpler data.

The Philippines declared an energy emergency days before importing the Russian crude. Long lines formed at gas stations across the country, airlines began considering fuel rationing, and the Philippine government started distributing cash handouts to transportation workers affected by fuel shortages.

Kairos Dela Cruz, a researcher at the Institute for Climate and Sustainable Cities, said, "The energy emergency declaration is a 'new frontier' in its scale and magnitude." Dela Cruz added, "It will definitely drive people down even further in the poverty line."

The U.S. temporarily waived sanctions on Russian oil shipments at sea for India and later extended the waiver to other countries. However, China and India moved quickly once the initial waiver took effect. "By the time U.S. President Donald Trump allowed everybody else to buy, it was already a bit too late because most of the cargo had already been ordered by China and India," said Muyu Xu, senior crude oil analyst at Kpler. "The real problem is how much cargo is still available in this market," Xu said. "Right now, really the priority is to ensure your supply and all the other considerations are secondary."

Russia's crude oil exports were about 3.8 million barrels per day in March 2026, up from 3.2 million barrels per day in February 2026, though still below the mid-2023 peak of 3.9 million barrels per day. Before the conflict in Iran, China, India and Turkey were the main importers of Russian crude oil despite Western sanctions. Approximately 126 million barrels of Russian crude oil were in transit at sea, according to Kpler.

The supply strains extended across the region. On March 23, 2026, Vietnamese Prime Minister Pham Minh Chinh visited Russia and signed agreements on cooperation in oil, gas and nuclear energy. Diesel price increases were affecting Vietnam's manufacturing sector. Three days later, on March 26, Thailand lifted fuel price caps and subsidies, and most fuel prices increased by about 20 U.S. cents per liter while diesel prices rose by roughly 18%.

Sam Reynolds, an analyst at the Institute for Energy Economics and Financial Analysis, said, "Russia emerges as a major winner from the entire conflict."