Sri Lanka

This had been stressed by the four-member Indian delegation led by Foreign Secretary Vinay Kwatra during its discussion with President Gotabaya Rajapaksa, Prime ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. In the meeting with Prime Minister Ranil Wickremesinghe, the two sides had an in-depth discussion on the Sri Lankan economy and efforts undertaken by the Government of Sri Lanka towards achieving economic recovery.

Given the grim scenario, Sri Lanka's Power and Energy Minister Kanchana Wijesekera insisted that the government was exploring options to buy oil from ...

Our first letter of credit was rejected by international banks because the ship was owned by a Russian company, Wijesekera told reporters on Sunday. The last ship which was due to arrive was a Russian vessel. The move was necessitated after state-owned refinery Ceylon Petroleum Corporation informed the Sri Lankan government on Saturday that there would be a delay in the arrival of fuel shipments due to banking and logistical reasons.

On Sunday, petrol price was hiked by LKR 50 and diesel by LKR 60 respectively, the third price revision in just over two months.

Indian credit lines for fuel and essentials have provided lifelines until the ongoing talks with the International Monetary Fund could lead to a possible bailout. So far, there have been an estimated twelve deaths in fuel queues due to exhaustion, physical ailments or accidents. The last ship which was due to arrive was a Russian vessel.

The Sri Lankan government has extended a two-week closure of non-essential state institutions until further notice in order to save fuel, maintaining only a ...

Unable to repay its $51 billion foreign debt, the government declared it was defaulting in April and is negotiating with the International Monetary Fund for a possible bailout. Wijesekera had announced on Saturday that Sri Lanka was virtually out of petrol and diesel after several scheduled shipments were delayed indefinitely due to "banking" reasons. The Sri Lankan government has extended a two-week closure of non-essential state institutions until further notice in order to save fuel, maintaining only a skeleton staff to provide minimum services.

The move was necessitated after state-owned refinery Ceylon Petroleum Corporation informed the Sri Lankan government on Saturday that there would be a delay in ...

Our first letter of credit was rejected by international banks because the ship was owned by a Russian company,” Wijesekera told reporters. The last ship which was due to arrive was a Russian vessel. The move was necessitated after state-owned refinery Ceylon Petroleum Corporation informed the Sri Lankan government on Saturday that there would be a delay in the arrival of fuel shipments due to banking and logistical reasons.

Sri Lanka is sending two ministers to Russia to negotiate for fuel, a necessity that the Indian ocean island nation has almost run out of amid its ongoing ...

Otherwise (we) may have to go to Russia again,” he said. Authorities have asked the IMF to lead a conference to unite Sri Lanka’s lenders. He said until the next shipments arrive, “public transport, power generators and industries will be given a priority.” In an interview with The Associated Press in mid-June, Prime Minister Ranil Wickremesinghe said Sri Lanka would be compelled to buy oil from Russia and was trying to get oil and coal from traditional suppliers in the Middle East. Since Russia’s invasion of Ukraine in late February, global oil prices have skyrocketed. There are talks going on,” he told reporters Sunday.

Two Sri Lankan ministers will travel to Russia for in-person meetings with officials in the hope of securing more fuel for their country, which is suffering ...

Otherwise [we] may have to go to Russia again," he said. Sri Lanka says it is unable to repay US$7 billion ($10 billion) in foreign debt due this year, pending the outcome of negotiations with the International Monetary Fund (IMF) on a rescue package. However, Mr Wijesekera said the foreign ministry and the Sri Lankan ambassador in Russia had been making arrangements for a fuel sale.