Sri Lanka sends ministers to Russia to negotiate for fuel

Sri Lanka is sending two ministers to Russia to negotiate for fuel - one of the necessities the Indian Ocean island nation has run out of due to its ongoing economic crisis.

Energy Minister Kanchana Wijesekera said two ministers were due to leave Russia to conduct in-person talks that Sri Lanka had been having with Russian authorities to directly purchase fuel, as well as other related issues.

Over the weekend, Mr Wijesekera urged Sri Lankans not to line up for fuel, saying new shipments would be delayed due to banking and logistics reasons. He said limited fuel stocks would be distributed to limited stations throughout the next week.

He said until the next shipments arrive, public transport, power generators and industries will be given priority. Residents have had to queue for hours and sometimes days to get fuel, sometimes resorting to burning charcoal or palm fronds for cooking.

It is trying to help the island nation cope with an unprecedented economic crisis and severe shortages of essential supplies.

Since Russia's invasion of Ukraine in late February, global oil prices have skyrocketed.

Many Western nations are trying to cut financial flows that support Moscow's war effort, but Russia is offering its crude at a steep discount, making it enticing for a number of countries.

Like some other South Asian nations, Sri Lanka has remained neutral on the war in Europe.

The foreign ministry and the Sri Lankan ambassador in Russia have been making arrangements for a fuel sale, according to Mr Wijesekera.

He said that there is an advantage for us if we could buy oil directly from the Russian government or Russian firms.

We may have to go to Russia again,'' he said.

The shortages have resulted in recent protests against the Sri Lankan government, with demonstrators demanding fuel.

Sri Lanka is unable to repay US $7 billion in foreign debt due this year, pending the outcome of negotiations with the International Monetary Fund IMF on a rescue package.

It must pay $5 billion a year to the US government by the year 2026.

The IMF has asked the government to lead a conference to unite Sri Lanka's lenders.

Last month, the country bought a 90,000 tonne shipment of Russian crude to restart its only refinery, Mr Wijesekera said.

In an interview with the Associated Press in mid-June, the prime minister Ranil Wickremesinghe said Sri Lanka would be forced to buy oil from Russia, adding that his country desperately needed fuel, and was trying to get oil and coal from the country's traditional suppliers in the Middle East.

He said that we might have to go to Russia again.

Last week, the state-owned Ceylon Petroleum Corporation had $700 million in debt and no country or organisation was willing to provide fuel, according to Mr Wickremesinghe.

Protesters have demanded his resignation from President Gotabaya Rajapaksa's office for more than two months.

Protesters say that the primary responsibility for the crisis lies with him and his family, whom they accuse of corruption and mismanagement.