South Asian island nation's Prime Minister Ranil Wickremesinghe said that the country is "facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food".
Russia overtakes Saudi Arabia as Beijing's top supplier after 19-month gap as Russian oil imports have soared to a record 55 percent from last year.
Four civilians and three soldiers were wounded when the army opened fire for the first time to quell unrest linked to the worsening economic crisis.
An agreement has been signed to export Israeli gas to Egypt, where it will be liquefied before exporting to Europe as the EU seeks to reduce dependency on Moscow.
US President Biden has criticised oil giant Exxon Mobil for not contributing to the nation's economy by pumping more oil to flatten gas prices.
The move offers modest relief for a global economy suffering from soaring energy prices and the resulting inflation.
An eleventh-hour push for a deal on the Russian oil embargo remains fragile in face of Hungarian opposition.
Russian finance minister noted that government plans to spend the revenue on domestic needs this year.
Ukraine's Zelenskyy vows to defend his country's territory while President Putin issues order to fast track Russian citizenship for residents of Kherson and Zaporizhzhia, as fighting stretches to its 92nd day.
Following the Ukraine conflict, American energy firms have taken the opportunity to increase energy production putting action against climate crisis on the back-burner.
The company saw its shares valued at $2.42 trillion, while Apple's stood at $2.37 trillion when market closed.
Part of the reticence to spend more to drill comes as the oil giants ramp up investment in hydrogen, carbon capture and storage and other low-carbon ventures amid pressure from environmental, social and governance (ESG) investors.
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