MUAR: Prime Minister Datuk Seri Anwar Ibrahim says he will meet Russian President Vladimir Putin to discuss, among other matters, ensuring a stable supply of oil and gas to Malaysia amid growing global uncertainties.
He said he would be leaving for Kazan in Russia on Tuesday (June 16) to attend the meeting with Putin, which will also involve other Asean leaders.
“The discussions with the Russian President will result in assurances on the continued supply of oil and diesel to the country,” he said in his speech during a gathering with fishermen, farmers and residents at Pantai Leka in Parit Jawa here on Monday.
Anwar also said that the government was taking proactive steps to safeguard the nation’s energy needs as geopolitical tensions continued to affect global markets.
He pointed to the conflict involving Iran, the United States and Israel, warning that any disruption to shipping through the Strait of Hormuz could have serious consequences for global oil supplies and prices.
Anwar added he had received information from Pakistan Prime Minister Shehbaz Sharif indicating that efforts were underway to end the conflict and that a resolution could be reached as early as Friday.
“If the Strait of Hormuz is closed, the impact will be felt worldwide, including in Malaysia, through higher oil prices,” he said, adding that the government was closely monitoring developments in the region.
The Prime Minister said Malaysia remained fortunate to have among the lowest fuel prices in the world, with RON95 petrol continuing to be heavily subsidised.
He added that some countries were already facing fuel shortages and the closure of petrol stations due to supply constraints.
Anwar also revealed that Malaysia was pursuing cooperation with Turkmenistan to secure long-term gas supplies through Petronas, adding that the move would help guarantee energy security for future generations while ensuring more competitive prices.
