Sri Lanka’s president asks Putin to help the country import fuel
On July 7, the BBC reported that Sri Lankan President Kotabaya Rajapaksa asked Russian President Vladimir Putin to help import fuel to cash-stricken Sri Lanka. It faced the worst economic crisis since British independence in 1948.
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Had a very productive telecon with the #Russia President, Vladimir Putin. While thanking him for all the support extended by his gvt to overcome the challenges of the past, I requested an offer of credit support to import fuel to #lka in defeating the current econ challenges.— Gotabaya Rajapaksa (@GotabayaR) July 6, 2022
Rajapaksa tweeted, referring to a conversation with the Russian leader, saying: “I’m asking for a proposal to support credit for fuel imports,” he said. He humbly requested that flights between Russia and Sri Lanka resume service. After the Aeroflot airline suspended service last month.
“We agree that Strengthening bilateral ties in sectors such as tourism, trade and culture is crucial to strengthening the friendship between the two countries,” added Rajapaksa.
Sri Lankan police during a protest in Colombo On Wednesday, July 6, AFP
The move came after hundreds of people took to the streets near the parliament building on Wednesday. in Colombo to protest against the government.
And earlier, Mr. Kanchana Vichesegera, Minister of Energy of Sri Lanka said on Sunday July 3 that the country has less than a day of oil left under normal demand.
Sri Lanka has bought oil from Russia in recent months to help support its fuel supply during the crisis. And the government signaled its willingness to order more from Russia.
While Rajapaksa’s efforts to tackle Sri Lanka’s worst economic crisis in more than 70 years — including financial support from India and China — have so far failed to end the shortage. Fuel, energy, food and other necessities several weeks
Vehicle owners wait in a queue to buy petrol due to fuel shortage, amid the country’s economic crisis, in Colombo, Sri Lanka June 17, 2022. REUTERS/Dinuka Liyanawatte
The same day, July 7, the Bank of Sri Lanka raised key interest rates by 1 percent to address the country’s soaring cost of living. Loan interest rates rose to 15.5 percent while deposit rates rose to 14.5 percent, the highest in 21 years.
The move comes as annual inflation hit a record 54.6 percent in June. as food costs increased by more than 80 percent
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