Australian Economy

Sri Lanka open to accepting more Russian oil, Chinese financial aid amid economic crisis

Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel during its unprecedented economic crisis, the newly appointed Prime Minister says.

Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude oil from Moscow.

Western nations have largely halted energy imports from Russia in line with sanctions over the war on Ukraine.

Mr Wickremesinghe also indicated he would be willing to accept more financial help from China, saying the war in Ukraine was making the crisis in his country even worse and dire food shortages could continue until 2024.

He said Russia had also offered to supply wheat to Sri Lanka.

Sri Lanka's new prime minister Ranil Wickremesinghe gestures during an interview
Prime Minister Ranil Wickremesinghe says he feels terrible watching his nation suffer.(AP: Eranga Jayawardena)

Sri Lanka struggling under weight of debt

Mr Wickremesinghe, who is also Sri Lanka’s finance minister, spoke to the Associated Press one day shy of a month since he took over for a sixth time as Prime Minister.

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