Colombo: Sri Lanka could be forced to buy more oil from Russia as the island nation desperate for fuel amid an unprecedented economic crisis, the newly appointed prime minister said.
Prime Minister Ranil Wickremesinghe He said he would look at other sources first, but would be ready to buy more crude from Moscow. Western countries have largely cut energy imports from Russia in line with sanctions over its war on Ukraine.
In an extensive interview with The Associated Press on Saturday, Wickremesinghe also indicated that he would be willing to accept more financial help from China despite his country’s rising debt. And while he acknowledged that Sri Lanka’s current situation is “of its own making”, he said the war in Ukraine is making it worse – and that severe food shortages could continue until 2024. He said that Russia had also offered wheat to Sri Lanka.
Wickremesinghe, who is also Sri Lanka’s finance minister, spoke to the AP at his office in the capital Colombo, a month after taking over as prime minister for the sixth time.
appointed by President Gotabaya Rajapaksa Wickremesinghe was sworn in last month after days of violent protests, when his predecessor Rajapaksa’s brother was forced to step down to resolve an economic crisis that has nearly emptied the country’s foreign exchange reserves. Mahinda RajapakseTo get down from the angry mob at the naval base and seek security.
Sri Lanka has accumulated foreign debt of $51 billion, but this year has stopped repayments of about $7 billion.
Crushing debt has left the country with no money for basic imports, meaning citizens are struggling to access basic necessities like food, fuel, medicine – even toilet paper and matches. The shortage has led to rolling power outages, and people have been forced to wait for days for cooking gas and gasoline in lines stretching for kilometers (miles).
The energy minister told reporters that two weeks ago, the country had bought a consignment of 90,000 metric tons (99,000 tonnes) of Russian crude to restart its only refinery.
Wickremesinghe did not comment directly on those reports and said he did not know whether more orders were in the pipeline. But he said Sri Lanka is in dire need of fuel, and is currently trying to obtain oil and coal from the country’s traditional suppliers in the Middle East.
“If we can get from any other source, we will get from there. Otherwise (we) may have to go to Russia again,” he said.
Prime Minister Ranil Wickremesinghe He said he would look at other sources first, but would be ready to buy more crude from Moscow. Western countries have largely cut energy imports from Russia in line with sanctions over its war on Ukraine.
In an extensive interview with The Associated Press on Saturday, Wickremesinghe also indicated that he would be willing to accept more financial help from China despite his country’s rising debt. And while he acknowledged that Sri Lanka’s current situation is “of its own making”, he said the war in Ukraine is making it worse – and that severe food shortages could continue until 2024. He said that Russia had also offered wheat to Sri Lanka.
Wickremesinghe, who is also Sri Lanka’s finance minister, spoke to the AP at his office in the capital Colombo, a month after taking over as prime minister for the sixth time.
appointed by President Gotabaya Rajapaksa Wickremesinghe was sworn in last month after days of violent protests, when his predecessor Rajapaksa’s brother was forced to step down to resolve an economic crisis that has nearly emptied the country’s foreign exchange reserves. Mahinda RajapakseTo get down from the angry mob at the naval base and seek security.
Sri Lanka has accumulated foreign debt of $51 billion, but this year has stopped repayments of about $7 billion.
Crushing debt has left the country with no money for basic imports, meaning citizens are struggling to access basic necessities like food, fuel, medicine – even toilet paper and matches. The shortage has led to rolling power outages, and people have been forced to wait for days for cooking gas and gasoline in lines stretching for kilometers (miles).
The energy minister told reporters that two weeks ago, the country had bought a consignment of 90,000 metric tons (99,000 tonnes) of Russian crude to restart its only refinery.
Wickremesinghe did not comment directly on those reports and said he did not know whether more orders were in the pipeline. But he said Sri Lanka is in dire need of fuel, and is currently trying to obtain oil and coal from the country’s traditional suppliers in the Middle East.
“If we can get from any other source, we will get from there. Otherwise (we) may have to go to Russia again,” he said.