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Bangladesh: Bangladesh looking for alternative transaction with Russia, FM

DHAKA, 31 March 2022, (TON): Foreign minister AK Abdul Momen said while addressing the parliament “Bangladesh was thinking of an alternative way of financial transaction with Russia as there is a fear of increasing the price of fuel if the Russia-Ukraine war is prolonged.”

Foreign Minister said ‘if the Russia-Ukraine war is prolonged, the price of fuel on the world market will increase further. As a result, the cost of transportation and agricultural production will increase in Bangladesh.”

The foreign minister said that the price of oil per barrel was now the highest in the last nine years.

Bangladesh imports 50 lakh tons of diesel, 13 lakh tons of crude oil, two lakh tons of furnace oil and 120,000 tons of octane every year.

Bangladesh suffers loss of over $15 crore every day by selling fuel oil.

Momen said “though Bangladesh did not import wheat from Russia and Ukraine, the supply would be influenced by the global market situation.”

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