Bankrupt Sri Lanka Seeks Cheaper Oil from Russia amid Financial Struggles
SRI LANKA – The bankrupt Sri Lankan government will send ministers to Russia to search for discounted oil.
It is no secret to the world that the Sri Lankan government and its people are currently facing huge challenges amid the country’s economic crisis. Several businesses were shut down in the country as they can no longer withstand the negative impacts of the situation.
Some of the country’s resources also ran out. Based on a report on ABS-CBN News, Sri Lanka recently confirmed that it has run out of fuel amid the closure of non-essential state institutions to save fuel.
According to the report, the Sri Lankan government had to extend the closure of non-essential state institutions for another two weeks until further notice due to the fuel supply problem now. Most non-essential state institutions are operating on a skeletal workforce to provide minimum services to the people.
Sri Lanka decided to seek the help of Russia amid its oil problem. Reportedly, the country’s energy minister, Kanchana Wijesekera, confirmed that two (2) of their ministers are set to go to Russia to discuss oil purchases. The country is in the pursuit to obtain cheaper oil amid its bankruptcy.
Wijesekera also confirmed that he will travel to Qatar to check if they can arrange “concessionary terms” with the country. Currently, the supply of fuel in Sri Lanka is only enough to meet the demands in less than two (2) days and the government is reserving its supply for essential services only. Oil price hikes have taken place amid the deficit in the oil supply.
Reportedly, the price of diesel has multiplied nearly four times since January while the price of gasoline has almost tripled.
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