The Philippines has formally requested an extension from the US on a temporary waiver allowing the country to purchase Russian oil and petroleum products, Energy Secretary Sharon Garin said on Tuesday.
The waiver, issued by the US Treasury in March, gave a 30-day window for purchases of Russian oil already at sea to ease supply shortages and stabilise markets amid disruptions in the Strait of Hormuz. It lapsed over the weekend.
“We are awaiting their response, but we are very positive on getting this other window,” Garin said at a news briefing.
Philippine Ambassador to the US Jose Manuel Romualdez told Reuters the extension is likely to be approved, noting that other countries have made similar requests. “We will most likely get it,” he said, adding that Manila only needs to provide the US State and Treasury departments with details on the quantity and duration of the imports.
US President Donald Trump had previously imposed sanctions on Russian petroleum products in connection with Russia’s actions in Ukraine. The March waiver was granted amid significant volatility in international petroleum prices following US and Israeli airstrikes against Iran in February, which led to Iranian restrictions on shipping through the Strait of Hormuz. The strait carries around 20% of the world’s oil.
While the waiver was still active, a shipment of 2.48 million barrels of Russian crude oil procured by Petron Corp arrived in the Philippines last month. Petron operates the country’s only remaining oil refinery capable of processing crude oil.
Garin stressed that the Philippines is actively seeking to broaden its energy sources beyond Russia. Options under consideration include producers in Colombia, Argentina, and Canada, as well as the US itself and refined products from nearby Brunei and India.
“We wanted to open the Russian window because we want more options. We need diversification,” she said. “Diversification is necessary so that we are not dependent on just one country.”
She noted that the Department of Energy has coordinated with the Department of Foreign Affairs to relay the extension request to Washington through the Philippine ambassador. Garin also said private companies seek US clearance before engaging with sanctioned sources due to potential legal and financial risks.
The Philippines declared a state of national emergency in energy matters earlier this year. Garin cited ongoing dialogues with various embassies, including the US, and planned talks with Iranian and US officials following Trump’s announcement of a US military blockade of Iran’s ports and a partial blockade of the Strait of Hormuz, which took effect last Tuesday.
Last month, the Department of Foreign Affairs and Department of Energy successfully negotiated safe passage for Philippine-bound ships through the Strait of Hormuz with Iranian authorities.
On Monday, President Ferdinand Marcos Jr. suspended excise taxes on kerosene and liquefied petroleum gas after Congress granted him emergency powers to adjust fuel tax rates, aiming to provide relief to consumers facing elevated costs.
His economic managers, however, opposed extending the suspension to diesel and gasoline. Secretary of Finance Frederick Go said the Development Budget Coordination Committee determined such a move would not deliver meaningful relief. “Any reduction in retail pump prices would be marginal and largely offset by prevailing market dynamics,” he said.
The US administration is also reportedly considering extensions to the Russian oil waiver to help mitigate broader market shocks stemming from the Iran-related disruptions.
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