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More than half of Sri Lanka’s crude oil imports have come from Russia, reports the Financial Times, as cash-strapped Colombo looks for cheaper sources of fuel globally.
According to data from analytics providers Refinitiv and OilX, Russia has accounted for 2.6 million barrels of oil since May of this year. The number amounts to approximately 79 per cent of Sri Lanka’s total imports according to Refinitiv and some 60 per cent according to OilX.
The FT reported that it was “unclear whether Sri Lanka was buying directly from a Russian oil company — which would suggest a government-to-government deal — or buying spot cargoes from traders”.
Earlier this year, Sri Lanka’s war crimes-accused former president Gotabaya Rajapaksa spoke over the phone to Russia’s war crimes-accused president Vladimir Putin, as the two reportedly discussed how Moscow could send fuel to Colombo.
It comes on the back of deepening ties between the two governments, which has seen Sri Lanka provide Russia diplomatic support at the United Nations.
While numerous countries have condemned Russia for its invasion of Ukraine, Sri Lanka twice abstained at the UN General Assembly, including just yesterday.
Previously, Russia has also come to Sri Lanka’s defence when questioned about its human rights abuses.
In March of this year, the United Nations Human Rights Council discussed accountability processes for mass atrocities on the island. When several member states expressed concerns about the lack of progress on accountability, Russia countered these concerns. Russia claimed that Sri Lanka had made “considerable progress” on human rights and reconciliation.