Bangkok, March 13 -- Thailand is ready to start negotiations with Russia on oil supplies, Thai Deputy Prime Minister Phipat Ratchakiprakarn said on Friday.
"There is good news: it has become known from the US statement that the US has stopped boycotting Russian oil exports, so Thailand will become one of the countries that will now begin negotiations with Russia on the purchase of crude oil. The negotiations will be initiated by the Thai Ministry of Energy," the official told reporters.
Thailand currently has crude oil reserves sufficient for 98 days of petroleum processing, Ratchakiprakarn said.
The Middle East crisis threatens Persian Gulf oil supplies, which normally cover about 50% of Thailand's imports, the official added. The other...