Thirsty for fuel, Asia turns toward Russia crude

Asian countries including Vietnam, Thailand, the Philippines, Indonesia and Sri Lanka are lining up to buy Russian oil as the Iran war blocks supplies, raising the possibility that demand may exceed supply, several sources including Russia said.

Since the war in Ukraine prompted European customers - once the biggest buyers of Russian oil and gas - to shun Moscow, India and China have accounted for around 80 per cent of Russian oil exports. Turkey has also been a significant buyer.

But in recent weeks, a host of Asian countries have been lining up, according to various sources including media and Russia.

"Demand is high, particularly for alternative destinations. As a result, a point may come when it becomes difficult to meet additional demand," Kremlin spokesman Dmitry Peskov said in response to a question about Russian oil demand.