Economic Minister Mohamed Saeed says the State Trading Organization, STO, has imported an oil shipment amid escalating global demand for oil caused by the war in the Middle East.
The Minister said on 'X' that the war in the Middle East has caused rising oil prices in the world market and many challenges to oil supply.
He said that the government has taken very swift and deliberate steps to minimize the impact of the conflict on the Maldives and its people. He also said that, in this regard, STO is maintaining the country's oil stock.
The Minister explained that STO imports oil based on the country's demand under a nomination arrangement with suppliers.
Minister Saeed said STO imported two oil shipments this week alone and that additional shipments are scheduled to arrive in the Maldives in accordance with the nominations and dates agreed with the suppliers.
He assured that oil, gas, and basic food items would be imported to the Maldives without difficulty in the coming days.
