Russia has signed a memorandum of understanding to build a port and oil refinery in Myanmar. The agreement aims to deepen economic and energy cooperation between the two countries.
The project aims to strengthen Myanmar’s energy infrastructure and increase trade volumes in the region. Russia’s investment is also seen as part of its strategy to expand its influence in the Asia-Pacific region. “This project will help meet Myanmar’s energy needs and diversify trade routes in the region,” the Russian Energy Minister said, adding that the deal will strengthen the strategic partnership between the two countries. Myanmar officials said the project would make a significant contribution to the country’s economic development. The port and refinery facilities will play a critical role in both meeting local energy demand and supporting regional trade. While the details of the project have not yet been fully disclosed, the construction process is expected to take several years and require significant investment. In addition, the project’s environmental impacts and sustainability issues will also be taken into consideration.
https://www.reuters.com/world/russia-signs-memorandum-build-port-oil-refinery-myanmar-2025-02-23
