#china #chinanews #srilanka #india #refinery #oil

In 2022, Sri Lanka was forced to declare bankruptcy due to a severe financial crisis. This news put this peaceful Indian Ocean island country into the global spotlight.

Faced with the serious challenge of economic collapse, Sri Lanka began to seek assistance from all sides, only to find that most of its neighbors and global partners kept their distance from the country on the verge of financial collapse. However, in this context, China attaches great importance to this "Belt and Road" partner and continues to reduce Sri Lanka's burden through investment and loan interest exemptions.

Just recently, in response to China's support, the Sri Lankan government signed a cooperation agreement worth US$4.5 billion with Chinese companies. The plan is for a Chinese energy company to build a large refinery in Sri Lanka's Hambantota region.

However, after the establishment of this cooperation, it caused dissatisfaction in India. Because the project was originally undertaken by an Indian company, but now it was unexpectedly transferred to China, they believed that China had taken away the project that originally belonged to them.

So, what we are going to discuss in today’s video is, why did Sri Lanka reject India and hand over the refinery project to China? How important is this project to Sri Lanka?

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