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RUSSIA and Malaysia are reinforcing bilateral cooperation in the energy sector, with Petroliam Nasional Bhd (PETRONAS) continuing to play a strategic role in Russian oil projects, according to President Vladimir Putin.
Speaking at a joint press conference with Prime Minister Datuk Seri Anwar Ibrahim at the Kremlin, Putin noted that energy remains a central pillar of the countries’ relationship, and that discussions are now under way regarding potential peaceful nuclear energy collaboration.
“Malaysian oil and gas company PETRONAS is a shareholder in Rosneft, while Gazprom is also building ties with the company,” said Putin.
“We also see potential for joint projects in the gas sector and in the development of nuclear energy for peaceful purposes,” he added.
Malaysia’s involvement in Russia’s energy landscape dates back to 2006, when PETRONAS acquired a 1.3 per cent stake in Rosneft during its initial public offering, valued at US\$1.1 billion—making it the largest minority shareholder at the time.
The partnership was further solidified in June 2007 during an official visit by former Malaysian Prime Minister Tun Abdullah Ahmad Badawi, when Putin described the deal as “a major investment in the Russian economy.”
Putin also highlighted that Russian petroleum and coal products are now entering the Malaysian market in significant volumes, while cooperation in the production of fertilisers and synthetic rubber continues to expand.
For his part, Anwar expressed Malaysia’s desire to deepen cooperation with Russia in high-technology sectors, including energy, aerospace, the digital economy, artificial intelligence, and agrotechnology.
Beyond energy, both leaders reaffirmed their commitment to strengthening bilateral trade and investment, which surpassed US$3.2 billion in 2024. They also agreed to reconvene the Malaysia–Russia Intergovernmental Economic Commission meeting in Malaysia later this year to chart the next phase of collaboration.
The official proceedings at the Kremlin were lightened by a moment of humour during the press conference, when Putin recounted a personal exchange with Anwar during a private tour of the Grand Hall of St. Andrew.
Putin said he showed Anwar three thrones, traditionally reserved for the tsar, the tsarina, and an unmarked third seat. When asked who he thought the third throne was for, Anwar quipped, “For the second wife.”
The remark drew laughter from Malaysian ministers, senior Russian officials, and members of the international press.
Putin replied jokingly, “That is the answer of a true Muslim, a representative of Islamic culture.”
Anwar clarified with a smile, “I have only one wife, Mr President. But I thought it was a test. I said the right throne is for the wife, the left for the second wife. Then I realised it was actually for the mother.”
To which Putin responded amid laughter, “Yes, the third throne is indeed for the mother. Exchange of information is always useful.”
The moment closed a day of substantive discussions between the two leaders and offered a glimpse into the warmth of their growing diplomatic rapport. - May 15, 2025
