Russian crude oil regenerates Sapugaskanda

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Sri Lanka is receiving Russian crude oil while the offensive in Ukraine is continuing.

The Russian grade of Siberian Light will be processed by Ceylon Petroleum as the country is running out of options.

The Sapugaskanda sole refinery has started processing the crude oil but continuous supply is not assured and the trade unions are demanding continuous supply.

Russian crude oil prices have fallen after Moscow’s invasion of Ukraine due to US and European refineries having rejected purchases.

However, China and India have increased Russian oil purcheses.

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