Sri Lanka asks Putin for help and oil: Economy on the verge

SSri Lanka has been plagued by a severe economic crisis and political unrest for months. Now the government in Colombo is even asking Russia for help. As President Gotabaya Rajapaksa reported on Twitter, he asked Vladimir Putin by phone on Wednesday to support gasoline imports with loans. He also asked “with all humility” that air traffic between Moscow and the South Asian country be continued by Russian state airline Aeroflot. Until the start of the war, Ukraine and Russia were among the largest tourist groups in Sri Lanka and were important sources of income for the country.

The president described the phone call with Putin as very “productive”. “We absolutely agree that strengthening bilateral ties in sectors such as tourism, trade and culture is essential to reaffirm the friendship that binds our two countries,” Rajapaksa wrote. Sri Lanka previously bought oil from Russia, as did neighboring India. Indonesia also plans to buy Russian oil at a discount. According to a report by the German Press Office on Thursday, Kremlin spokesman Dmitry Peskov confirmed that the conversation was about possible assistance. However, so far no decision has been taken. Russia must first voice its choice and clarify this issue.

Endless queue in front of gas station

An employee of the Ministry of Energy in Sri Lanka reported that two representatives of the Russian oil company had arrived in the capital, Colombo. The South Asian island nation has struggled for months with its worst economic crisis since independence. High debt, a series of unprofitable large-scale investments, falling agricultural production and tourism have made the country unable to import certain fuels, gas, medicines and foodstuffs. Endless queues form in front of the gas station, and the electricity is turned off for several hours each day.

The energy minister announced on Wednesday that the country would only have gasoline for one day. The sale of fuel for non-essential uses was previously prohibited. The new prime minister, Ranil Wickremesinghe, announced in parliament on Tuesday that the country was bankrupt. Now expect, inter alia, assistance from the International Monetary Fund. Within the population, the presidential family clan was responsible for the tribulation. Therefore, a protest movement demanded the resignation of the President. But he stayed where he was.

Ambrose Fernandez

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