Russian President Vladimir Putin announced that Russian companies are ready to participate in hydrocarbon exploration and production activities in Myanmar, including in the country’s continental shelf. New agreements and projects in the fields of energy, nuclear technology, LNG, military cooperation and trade were also discussed between the two countries.
Putin made the remarks during a joint press conference following his meeting with Myanmar President Min Aung Hlaing at the Kremlin. He said the energy sector is one of the key areas of cooperation between Russia and Myanmar.
Putin stated that Russian companies are ready to support geological exploration activities aimed at hydrocarbon production in Myanmar, particularly focusing on potential resources in the country’s continental shelf.
The two countries are also considering the construction of a joint power plant and an oil refinery in southern Myanmar. Putin also said there are positive prospects for organizing the export of Russian liquefied natural gas (LNG) to Myanmar, including transit shipments.
Nuclear Energy Cooperation Expands
Nuclear energy is another major pillar of energy cooperation between Russia and Myanmar. Putin said a Russian-designed nuclear power plant will be built in Myanmar, describing the project as a “flagship” initiative in bilateral relations.
The Russian leader also noted that close military and military-technical cooperation between Moscow and Naypyidaw continues.
Ruble Use in Trade
Putin also highlighted the growing use of local currencies in economic relations between the two countries. He said approximately two-thirds of monetary transactions between Russia and Myanmar are conducted in rubles.
Describing Myanmar President Min Aung Hlaing as “a friend of Russia,” Putin announced that a Myanmar Consulate General is expected to open in Vladivostok in the near future. He also emphasized that the visa-free travel arrangement between Russia and Myanmar is contributing to the development of people-to-people ties between the two countries.
Putin further announced that Russia and Myanmar had signed a joint statement opposing sanctions. The move marks another step toward expanding cooperation between the two countries in the fields of energy and defense, as well as in economic and diplomatic affairs.
