Bangladesh Seeks US Waiver to Import Russian Oil

Shun Tai crude oil tanker is seen anchored at the terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia, 4 December 2022.

Bangladesh has requested a temporary waiver from the United States to allow the purchase of Russian oil, similar to the exemption previously granted to India, amid growing uncertainty in global energy markets.

Finance Minister Amir Khasru Mahmud Chowdhury said the request was raised during a meeting with Brent T Christensen in Dhaka on Wednesday.

“We told them that if Bangladesh is given a similar opportunity, it would greatly support our economy,” the minister said, adding that US officials indicated the matter would be forwarded to Washington for consideration.

The meeting mainly focused on the volatility in international energy markets, particularly concerns over oil and gas supply amid ongoing tensions in the Middle East.

Both sides also discussed ways to strengthen investment, trade and broader economic cooperation between Bangladesh and the United States. Capacity-building initiatives for various government institutions were also part of the discussion.

Responding to questions from journalists, the minister said no specific decision had been reached regarding a possible trade agreement between the two countries.

“A trade agreement is a bilateral matter. It is not possible to say anything specific right now. However, we are considering how the issue can best serve Bangladesh’s interests,” he said.

He added that the government is preparing for different scenarios as global geopolitical tensions continue to affect energy supplies and markets.

“Whether the conflict is short-term, medium-term or prolonged, we are planning by considering all possible situations,” the minister said.