Negotiations are underway to purchase Sri Lanka’s crude oil from Russia, which has imposed heavy sanctions by the United States, the United Kingdom and other European countries due to the invasion of Ukraine, have begun, reports say.
According to the reports that Sri Lanka is set to buy crude oil at a price lower than the world market price top government source said. Russia has also agreed to supply a ship containing crude oil to Sri Lanka from Sri Lanka.
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For the first time in history, a barrel of Brent crude oil exceeded $ 100 a barrel due to the Russian-Ukrainian war, putting the world under severe economic pressure.
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