28 Apr 2022 14:53

Myanmar interested in refining experience of companies from Tatarstan - regional authorities

MOSCOW. April 28 (Interfax) - Authorities in Myanmar are interested in the oil refining experience of companies from Tatarstan, the press service for head of Tatarstan Rustam Minnikhanov said in a statement after his meeting with the Prime Minister of Myanmar Min Aung Hlaing on Thursday.

"Mr. Min Aung Hlaing particularly noted the interest in matters relating to oil refining. There are oil fields in Myanmar, but refining is not developed and, in his opinion, the experience of Tatarstan would be useful," the statement said.

A delegation of Tatarstan industry leaders headed by Minnikhanov has been in Myanmar since Wednesday.

Oil refining in Tatarstan is carried out by TANECO (part of Tatneft ) and TAIF-NK (owned by the founders of TAIF Group).

A military coup took place in Myanmar on February 1, 2021. The military declared a state of emergency, which is still in effect, and detained a number of high-ranking officials for "election fraud" on November 8, 2020.

After the coup, the EU imposed an arms embargo on Myanmar and targeted sanctions on its armed forces, their leaders and affiliated companies.

The EU is prepared to tighten sanctions. In January 2022, EU diplomatic chief Josep Borrell said that if the situation in Myanmar does not improve quickly, the EU is ready to take further restrictive measures.