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Cash-strapped Sri Lanka gets Russian oil to ease shortages

byNews Desk
May 29, 2022
in Main, News
Reading Time: 1 min read
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Cash-strapped Sri Lanka gets Russian oil to ease shortages
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The 90,000-tonne consignment of Russian oil waited offshore for more than a month as Sri Lanka was unable pay for shipment.

Srilanka is suffering its worst economic meltdown since independence, with shortages of fuel and other essentials making life miserable for its 22 million people.

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Sri Lanka has taken delivery of a consignment of Russian oil to restart operations at the country’s only refinery, the energy minister said.

Sri Lanka will pay $72.6m to buy the 90,000-tonne shipment of Russian oil, the minister said.

“I have reached out to multiple countries, including Russia, for support to import crude and other petroleum products,” Wijesekera said.

The 90,000-tonne consignment was ordered through Dubai-based Coral Energy, the minister said, adding that the shipment would facilitate restarting the country’s sole refinery, which has been closed since March 25.

“The next shipment will also be ordered from the same company. Another consignment will be needed within the next two weeks to keep the refinery running continuously,” he added.

Tags: Russian OilSrilanka
News Desk

News Desk

A source of economic, political, business, finance, health and sports updates.

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