Sri Lanka secures a long-term Credit Line from Russia to procure fuel

The Embassy of Sri Lanka in Moscow has secured a long-term Credit Line from the Government of the Russian Federation in order to procure fuel to Sri Lanka, the embassy said.

“A productive discussion was held with the Russian Government on the possibility of obtaining a long term credit line in order to procure fuel to Sri Lanka,” it said in a statement.

Ambassador of Sri Lanka to the Russian Federation, Prof. Janitha A. Liyanage attended this discussion representing Sri Lanka and emphasised the significance of such a credit line to Sri Lanka to procure fuel, especially at this trying time.

“The mechanism of the said credit line and the modality to procure fuel from the Russian Federation were discussed at length with the Ministry of Finance of the Russian Federation.”

From the Russian Government, Maksimov Timur, the Deputy Minister of Finance of the Russian Federation and Levan Jagaryan, the Sri Lankan Ambassador and a few officials representing the Ministry of Finance and the Ministry of Foreign Affairs were also present at the discussion.

This Embassy is of the view that this credit line facility will play an important role to make adequate fuel supplies available to Sri Lanka at a competitive price in the months to come.