Sri Lanka bracing for major impact from Ukraine crisis

26 February 2022 03:58 pm - 8 - {{hitsCtrl.values.hits}}

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Sri Lanka is bracing for what could be a major impact to the already unstable economy as a result of the crisis in Ukraine.

Russia’s military operation in Ukraine is expected to hit Sri Lanka’s tourism sector as well as tea exports and the purchasing of oil.

Foreign Secretary Admiral Jayanath Colombage said that the most number of tourists to Sri Lanka arrived from Russia and Ukraine in the recent past.

He said that Sri Lanka is expecting arrivals from those countries to be affected as a result of the crisis in Ukraine.

“That will have a major impact on us,” the Foreign Secretary said at a virtual media briefing yesterday.

Colombage also said that Sri Lanka will find it hard to sell its tea as a result of the crisis in Ukraine.

Russia and Ukraine are among the key countries to which Sri Lanka exports tea.

He also said that Sri Lanka will be compelled to pay more for oil and gas imported to the country.

World oil prices have already shot up as a result of the situation in Ukraine and Sri Lanka will need more dollars to pay for the imports.

“We will once again have to face a situation,” the Foreign Secretary said with regards to the impact the crisis will have on the local economy.

Meanwhile, Former Foreign Minister Rohitha Bogollagama said that sanctions imposed on Russia by the EU and proposed by other major trading nations may also affect Sri Lanka’s trade ties with Russia.

Bogollagama told Daily Mirror that Sri Lanka will be compelled to comply with any sanctions imposed by the EU or the US on Russia.

He said that would then hurt Sri Lanka’s economy as Russia is a major trading partner of Sri Lanka.(Easwaran Rutnam)

Comments - 8

Ranaweera Sunday, 27 February 2022 01:37 AM

What will SJB and NPP say now? Same blame game. Let us see how they will handle it. Oil prices have come down.

Jude Sunday, 27 February 2022 01:50 AM

තව අපිට මොනවා වෙන්නද !!?? හහ්!! ලයිට් නැහැ, වතුර නැහැ කන්න නැහැ කන්න තිබුණත් උයන්න gas නැහැ පෙට්රල් නැහැ ඩීසල් නැහැ සල්ලි තිබුණත් වරු ගණන් පෝලිමේ ඉන්න ඕනේ කිරි පිටි ගන්න හාල් ගන්න තෙල් ගන්න හහ් මේක බං ඇත්තටම මිහිපිට අපායක් බං ඔව් !!

Kaputa Sunday, 27 February 2022 05:07 AM

Kaputta got another excuse... The kapputa clan will use this for the next couple of years

Pew-tin Sunday, 27 February 2022 07:52 AM

Either call SOMA or UDAYA for the solution.

Lame duck Sunday, 27 February 2022 08:59 AM

Now use that as an excuse for the government's inefficiency...

Adwani Sunday, 27 February 2022 11:09 AM

Sri Lanka already braced for the major impact, when Hitler's avtari was elected.

Citizen k Sunday, 27 February 2022 01:29 PM

Are we selling tea to only ukrain and Russia?Find other markets.This is the time to show our generosity towards the people who are in dire need .Send them our tea ss a goodwill gesture.The war will end soon but the people will never forget a kind deed

joshua Sunday, 27 February 2022 07:26 PM

Kaputu Rajaa has another good excuse. BTW Ranaweera still seems to be dreaming of SLPP magic. Keep dreaming saar without blaming the opposition.

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Sri Lanka bracing for major impact from Ukraine crisis

Comments - 8

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