Sri Lanka seeks help from Russia for Fuel

Sri Lanka requests Russia to aid in buying fuel. The country is currently going through a cash-strapped. It is facing one of the worst economic crises. Srilanka’s President Gotbaya Rajapaksa had a conversation with Putin. The Energy Minister of the currently pointed out that they will soon be out of fuel. Hundreds of people are protesting on the street of Colombo. The country is in its worst political and economic status.

Srilankan President stated, “I requested an offer of credit support to import fuel. Furthermore, we unanimously agreed that strengthening bilateral relations in sectors such as tourism, trade, and culture was paramount in reinforcing the friendship our two nations share.”

The country purchased the oil from Russia. It was when to help the country during the fuel crisis. The government intends to buy more fuel from the energy-rich country. The country is trying to come from the worst economic crisis in the last 70 years. It is also trying to secure financial support from China and India.

Unfortunately, it fails to overcome the shortage of fuel, power, and other necessities. The country’s Defence Minister, Kanchana Wijeskera, called out and said the country left with petrol for less than a day. The authorities prohibited the sale of petrol and diesel to non-essential vehicles.

The Central Bank of Sri Lanka called out the interest rate from one percentage to other. The soaring cost of living in the country is making civilians worry about the coming days. The lending rate also rose by 15%. The deposit rate was also raised to 14.5%. It is one of the highest in the last 21 years. The annual inflation surged to 54.56% the last June. The food cost rose by 80% in total.

Several protestors are gathering in Colombo street to remove Mr. Rajapaksa’s government. The Foreign Ministers also called out to people planning a holiday in Sri Lanka. They will face demonstrations, roadblocks, and violent unrest.

Credits: BBC