The Government of Bangladesh has asked the United States (USA) for a temporary exemption from international sanctions to be able to import Russian oil and protect the economy from global energy uncertainty caused by the war in the Middle East.
Bangladesh’s Minister of Finance and Planning, Amir Khasru Mahmud Chowdhury, said the request seeks treatment similar to that recently granted to neighboring India.
New Delhi has received exceptional authorization from Washington to buy Russian crude oil trapped at sea in order to ease supply tensions arising from the military build-up in the Gulf.
“We conveyed to them that, if Bangladesh also received this opportunity, it would represent fundamental support for our economy”, explained Chowdhury, in statements published this Thursday, 12th, by the Dhaka Tribune newspaper.
The minister added that the US embassy was committed to forwarding the request to Washington.
During the meeting, both sides analyzed the volatility of the international hydrocarbons market and discussed ways to expand bilateral trade and investment, although the minister ruled out any decision on a trade agreement between the two countries.
Asked about the prolonged impact of the crisis in the Middle East, Chowdhury replied that the Government of Bangladesh is developing contingency plans to protect supplies, “whether in a short, medium or long-term war scenario”.
To ration fuel reserves in the face of supply shortages, Bangladesh has already been forced to order the temporary closure of universities and faces severe restrictions on natural gas supplies that threaten to paralyze operations in the hotel sector.
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