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Sri Lanka President calls Putin; plans to go to UAE to discover choices for gas imports

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Gotabaya Rajapaksa may even embark on a tour of the United Arab Emirates quickly to import gas from the oil-rich Gulf nation

Gotabaya Rajapaksa may even embark on a tour of the United Arab Emirates quickly to import gas from the oil-rich Gulf nation

Sri Lanka President Gotabaya Rajapaksa has referred to as his Russian counterpart Vladimir Putin to discover choices of buying oil from Moscow, as Colombo desperately seems to be to replenish its dwindling gas shares amid an unprecedented financial disaster, a Minister has mentioned.

Mr. Gotabaya may even embark on a tour of the United Arab Emirates within the close to future to import gas from the oil-rich Gulf nation.

On Monday, the Sri Lankan Government introduced that solely important providers will function from midnight until July 10 and all different operations shall be briefly suspended because the island nation of twenty-two million faces an acute gas scarcity.

“President Gotabaya has called the Russian President to import fuel from Russia. He also plans to go on a tour to UAE to discuss with their leaders to import fuel,” information portal Economy Next quoted Minister of state for energy and power Mahindananda Aluthgamage, and a detailed ally of the President, as saying throughout a media briefing on Tuesday.

The Sri Lankan financial system has nearly come to a grinding halt after it has run out of overseas trade reserves to import gas.

On Monday, Rajapaksa mentioned in a tweet that he met Russian Ambassador to Sri Lanka Yuri Materiy to debate the nation’s financial disaster resulting from a crippling scarcity of overseas trade reserves.

“Had a productive meeting with the Russian Ambassador Yuri Materiy yesterday. Maintaining robust bilateral relations between our two countries, whilst focusing on developing trading opportunities was discussed extensively at this meeting,” he tweeted on Tuesday.

Last month, Sri Lanka had bought 90,000 tonnes of oil from Russia.

Sri Lanka’s Power and Energy Minister Kanchana Wijesekera flew to Qatar on Monday to barter a long-term gas provide cope with the Gulf nation.

Prime Minister Ranil Wickremesinghe, who can be Sri Lanka’s Finance Minister, has warned that the nation could be requiring upto $5 million to pay for its gas imports.

Consequently, faculties have been shut for 2 weeks because of the ongoing gas disaster and provides have been diverted solely to important providers, whereas staff of public sector workplaces have additionally been requested to work at home.

Since June 24, no gas tankers with provides have arrived within the island nation whereas the state-run gas retailer Ceylon Petroleum Corporation says no new orders have been positioned.

Meanwhile, the federal government’s statistics workplace mentioned on Tuesday that the financial progress within the first quarter of this 12 months is projected to see a minus 1.6 per cent progress because of the financial disaster.

A launch mentioned that gas shortages had impacted all sectors with diminished manufacturing contributing to the unfavourable progress.

The nearly-bankrupt nation, with an acute overseas forex disaster that resulted in overseas debt default, had introduced in April that it’s suspending practically $7 billion overseas debt compensation due for this 12 months out of about USD 25 billion due by means of 2026.

Sri Lanka’s complete overseas debt stands at $51 billion.

Sri Lankans proceed to languish in lengthy gas and cooking fuel queues as the federal government is unable to seek out {dollars} to fund imports.

So far, there have been an estimated twelve deaths in gas queues resulting from exhaustion, bodily illnesses or accidents.

Irate residents need President Rajapaksa and his authorities to resign instantly for his or her lack of ability to deal with the gas shortages.

Indian credit score strains for gas and necessities have supplied lifelines till the continued talks with the International Monetary Fund might result in a potential bailout.

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