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Sri Lanka President meets Russian envoy amid oil talks

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ECONOMYNEXT – Sri Lanka President Gotabaya Rajapaksa has met Russia’s Ambassador to Colombo Yury Materiy and discussed economic ties including oil and coal imports, his office said.

“President Rajapaksa and Russian Ambassador YuryMateriy discussed a number of important economic areas, including generating more demand for Ceylon Tea in Russia, tourism industry, fuel, coal, gas, aviation, education, trade and fertilizer,” a statement said.

Sri Lanka has initiated talks with Russia to buy oil directly with credit facilities if possible, Petroleum Minister Kanchana Ratwatte has said.

At least one minister had flown to Russia where he will raise a number of matters including oil, he has said.

Sri Lanka is facing severe forex shortages as monetary printing has broken the credibility of a soft-peg or ‘flexible exchange rate’. (Colombo/June27/2022)

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