economy
April 8, 2026
Sri Lanka to buy Russian crude oil amid Middle East energy crisis
Sri Lanka has reached a pact with Russia on crude oil supplies to ease the energy crisis, with the details being worked out and the first shipment due in mid-April
TL;DR
- Sri Lanka has agreed to purchase crude oil from Russia to address its energy crisis.
- The agreement was reached following discussions between Sri Lankan and Russian officials.
- The first crude oil supplies from Russia are expected in mid-April.
- Technical and financial details of the transactions are currently being discussed.
- The Middle East conflict has triggered supply disruptions for Sri Lanka.
- Sri Lanka has implemented fuel price hikes and rationing.
- Bilateral trade between Sri Lanka and Russia was $700 million in 2024.
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