Finalising arrangements with Russian oil companies before the 11 April expiry of the US sanctions waiver is likely to be challenging, Chairperson of the Ceylon Petroleum Corporation (CPC) Janaka Rajakaruna said.

He noted that Sri Lanka is currently in discussions with Russia to procure oil, but acknowledged that time constraints and procedural complexities may hinder the conclusion of agreements before the deadline.

Russia has emerged as an uncertain supplier for some Asian countries following the temporary easing of US sanctions imposed over its attack on Ukraine. Several countries have sought to take advantage of the waiver to access Russian energy supplies.

Sri Lanka is among those exploring such options amid ongoing supply pressures.

The situation has become increasingly difficult for lower-income nations, including Sri Lanka, which has already implemented measures such as reducing the work week to four days and introducing fuel rationing.

These steps come in response to severe shortages triggered by the ongoing conflict in the Middle East, which has disrupted energy supply chains and intensified existing constraints.

Reuters