FINANCIAL CHRONICLE – Sri Lanka could not purchase oil from Russia as the island nation did not want to antagonize the United States of America, President Anura Kumara Dissanayake has stated.

“Some people are asking why we couldn’t get oil from Russia,” he told parliament, emphasizing that Sri Lanka maintained a neutral stance and was not aligned with the US.

“Understand. 25 percent of our exports go to the US. You know our neighboring countries had to reduce their dealings with Russia due to the tariff issue,” he added. Dissanayake highlighted the need for Sri Lanka to exercise caution in its international dealings.

Sri Lanka had negotiated a reduction of the Trump tariff from 44 to 20 percent last year, although specific details of the negotiations were not disclosed. These negotiations included measures to facilitate increased imports from the United States to address a trade deficit and to simplify the process for American firms operating in the country, according to Treasury Secretary Harshana Suriyapperuma.

Due to non-disclosure regulations, Sri Lanka is unable to immediately release all areas currently under discussion, Suriyapperuma explained. “Some of them are the ones you very correctly identified,” he said, responding to inquiries regarding whether the US Trade Representative’s longstanding positions on intellectual property protection and agricultural market access were discussed and whether oil imports would proceed using quotas.

“Sri Lanka is a net importer of energy into the country,” he noted. “So wherever possible, within competitive parameters, we will see how best we can accommodate their requirements.”

Sri Lanka’s Ceylon Petroleum Corporation has indicated that it is exploring the possibility of importing oil from the US. (Colombo/Mar21/2026)