Sri Lanka negotiates fuel deals with Russia and China

Sri Lanka is in talks to purchase crude and refined fuels from Russia and China to mitigate domestic shortages. The import-dependent nation recently hiked fuel prices 40% as the global energy crisis strained its foreign exchange reserves. The temporary sanctions waiver available from the U.S. until June 17 is primarily for crude oil from Russia. This effort follows ongoing negotiations as the energy minister stated that securing cheaper energy is essential for maintaining the country's fragile economic recovery.

Navigating Sanctions and Payment Hurdles