Putin could turn off Europe's gas tap. This is the solution - CNN

Tara Connolly is senior gas campaigner at Global Witness , an international NGO working towards a more sustainable, just and equal planet. She has over a decade of experience in EU energy policy. The views expressed in this commentary are her own. View more opinion on CNN.

(CNN) As Russian troops remain camped across several of Ukraine's frontiers , Europe and the United States are scrambling to prevent an incursion, with a flurry of diplomatic efforts and by bolstering their own troops in nearby NATO countries.

Speculation over Russian President Vladimir Putin's intentions have ramped up from mere threats to actual war, but officials and pundits in Europe are jittery about another threat as well: Moscow could reduce -- or even stop -- the flow of fossil gas that the continent so heavily relies on.

There has been much talk of what Russia is trying to achieve geopolitically by fostering this reliance -- to break up NATO, to split the European Union or alienate the US from its Western allies -- but these other concerns are also pressing.

Soaring prices in a power crunch are driving millions of Europeans into energy poverty and the continent's unfettered use of fossil gas is fueling the climate crisis. The solution should be self-evident -- end our reliance on expensive, dirty, and overwhelmingly imported gas. This will require standing up to the powerful gas industry, and right now, far too few politicians seem willing to take this vital step.

This is by no means the first time Europe's heavy reliance on Russian gas has been problematic. It was the same story during the last major flare-up with Ukraine in 2014, and Europe's response -- to simply find gas elsewhere -- didn't work then. It isn't working now either.

In 2013, Russian imports accounted for around 27% of the European Union's gas use. Instead of reducing reliance on Russia, nine years later, Europe remains more dependent on Russian gas than ever, with 38% of the EU's supply now being piped from the country.

EU Energy Commissioner Kadri Simson has been holding urgent meetings with Azerbaijan and Qatar to boost the bloc's gas supplies. Likewise, US President Joe Biden, a self-proclaimed climate champion, has been trying to ride to Europe's rescue, and push his own ever-expanding plans for American liquefied natural gas exports.

On a practical level, it's unlikely the US and its friends would be able to replace Russian gas in Europe quickly and effectively. Recent research by the Brussels-based think tank, Bruegel, concluded that in the event of a rupture in Russian gas, the EU would run short and have to start cutting gas use altogether.

So, if Europe can't do without Russia for gas, the question must be asked: Why not do without the gas?

Even if the US could bring a cavalry to Europe, more gas isn't a long-term solution. The flag on the pipeline or ship is irrelevant -- it's Europe's dependency on the fuel, regardless of where it's from, that makes it so vulnerable to the vagaries of the global gas market.

Europe's addiction to gas, and indeed the world's, will have a deep impact on the future of our planet. The idea peddled by many in the fossil fuel industry that gas can help tackle the climate crisis by replacing coal is false. The International Energy Agency has said that the world should stop adding more capacity for gas if it wants to contain global warming to 1.5 degrees Celsius.

In the EU, gas is now responsible for more carbon emissions than coal . According to the European Commission's own analysis, the continent must virtually eliminate fossil gas by 2050 to help keep global warming to 1.5C, although Global Witness believes it must be gone by 2035. Globally, between 2016 and 2019, fossil gas has been responsible for half of the increase in carbon dioxide emissions, according to data from the Global Carbon Project.

Methane, which can leak from almost every step in the gas supply chain, has more than 80 times the global warming power than carbon-dioxide in the short term. Methane has driven more than a quarter of all global warming to date. Not to mention the health risks attached to gas exposure both for communities near infrastructure and even in homes. A recent study by Stanford University showed, stoves used for cooking often leak methane even when turned off.

It's not just followers of geopolitical tensions or those in the climate movement that should be concerned with this gas addiction. A sharp rise in gas prices has forced households across Europe into the impossible choice between heating and eating. In the UK, 22 million have been told their energy bills will rise by about £700 ($950) a year, which will hit the poorest the hardest. Recent, but as yet unpublished, figures crunched by the Global Witness data team found that consumer gas prices in the Netherlands and Estonia over the past year have increased by a staggering 62% and 122%, respectively.

As European households suffer, it's a very different picture for major fossil fuel firms. Shell recently announced its most profitable fourth quarter in almost a decade, posting almost $20 billion in profit for 2021. ExxonMobil and Chevron recorded a combined $38.6 billion in profits last year. With other oil and gas majors set to post similarly strong years in the coming days -- including Russia's own Gazprom, which saw record-breaking Q3 profits -- it's a pointer as to just why politicians continue to back gas, despite all its associated woes.

Even with the tide turning against fossil fuels, many European lawmakers seem to continue to buy into the argument that the gas industry is vital for jobs and growth in their countries, even though the renovation and renewables sectors are already significant contributors to the economy with huge potential.

This is an industry that is directly benefiting from rising gas prices while ordinary citizens fall further into energy poverty and the climate crisis intensifies. It's therefore no surprise that gas companies are pushing to keep gas locked in, using the two-pronged approach of lobbying and greenwashing. While announcing his company's highest profits in eight years, the CEO of BP, Bernard Looney, called for even more investment into gas. And it's clearly having the desired effect.

In December, the European Commission published its proposals to reform Europe's gas market, in what could have been an opportunity to move towards the phaseout of gas. Worryingly, it chose to lock gas in for years to come, in line with calls from the gas industry.

The Commission's proposals rest on the impossible assumption that fossil gas infrastructure -- like pipelines -- can eventually be used with substitutes by nascent technologies like hydrogen. In Europe's existing networks, however, this would do little to reduce gas use, given most hydrogen is produced using fossil gas. There is little being done to challenge the power and influence of the fossil fuel companies at the heart of the gas market.

Another way is possible, but it requires a monumental shift. The huge political and financial support afforded to the fossil fuel industry needs to be redirected to give a much-needed boost for genuine solutions.

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Modeling carried out by the Climate Action Network Europe and the European Environmental Bureau shows that the use of fossil gas could virtually be phased out by 2035. That would require accelerating deep renovations of Europe's buildings, ramping up the deployment of renewable electricity technologies and the electrification of heating and transportation -- all measures that are entirely realistic.

This includes accelerating the deployment of renewable energy, like wind and solar, so that we can replace gas with green electricity. Schemes to renovate large-scale buildings or to insulate homes and replace gas boilers with green heating solutions, like heat pumps and geothermal, would go a long way.

But, outrageously, the majority of the EU's 27 member states still give more subsidies to fossil fuels than renewables.

Europe's deep gas dependency is impacting its citizens, the future of the planet and limiting its ability to shield from geopolitical threats. Already, rich big polluters in the gas industry -- whether in Russia or elsewhere -- are the only ones who stand to benefit from the status quo. European leaders should be putting in place plans to get Europe off gas as quickly as possible. This shouldn't be a courageous act. It's just common sense.


Sri Lanka is facing an economic crisis. Here's what it's like for people ...

Colombo, Sri Lanka (CNN) For three straight nights last week, Upul took to the streets of Sri Lanka's capital city holding a candle or a placard as he protested the country's worst economic crisis in decades.

Like his neighbors, he was frustrated by the more than 10-hour power cuts that plunged Colombo into darkness, and a shortage of gas to cook with that made it hard for his family to eat.

Then on Thursday -- the fourth night -- the protest turned violent.

Furious demonstrators hurled bricks and started fires outside Sri Lankan President Gotabaya Rajapaksa's private residence, as police used tear gas and water cannons to break up the protests.

"People were visibly angry, shouting," said Upul, who asked only to be referred to by his last name for fear of repercussions. "Earlier (in the week) they demanded the President to step down, (on Thursday) they were yelling and calling him names."

Protesters take cover as police use tear gas to disperse them during a protest outside the Sri Lankan President's home on March 31, 2022.

For weeks, Sri Lanka has been battling its worst economic crisis since the island nation gained independence in 1948, leaving food, fuel, gas and medicine in short supply, and sending the cost of basic goods skyrocketing.

Shops have been forced to close because they can't run fridges, air conditioners or fans, and soldiers are stationed at gas stations to calm customers, who line-up for hours in the searing heat to fill their tanks. Some people have even died waiting.

But Thursday night marked an escalation in Sri Lanka's ongoing economic crisis.

Following the protests, the police imposed a curfew and the President ordered a nationwide public emergency , giving authorities powers to detain people without a warrant. On Saturday evening, Sri Lanka declared a nationwide 36-hour curfew, effectively barring protests planned on Sunday -- but protests went ahead Saturday anyway. In a statement Sunday, police said they had arrested 664 people for violating the curfew.

Meanwhile, the government is seeking financial support from the International Monetary Fund (IMF) and turning to regional powers that may be able to help.

But there is brewing fury inside Sri Lanka -- and experts warn the situation is likely to get worse before it gets better.

A Sri Lankan policeman tries to disperse protesters in Colombo, March 31, 2022.

Days spent waiting in line

For weeks, life in Sri Lanka has involved hours of queuing -- just to get basic goods needed to survive.

Our daily life has been reduced to standing in a queue. Malkanthi Silva

"Our daily life has been reduced to standing in a queue," said Malkanthi Silva, 53, as she leaned on a worn blue gas cylinder in Colombo's baking heat, where she had already been waiting for hours for the propane she needs to cook to feed her family. "When we need milk powder, there's a queue for that, if we need medication there's another queue for that."

Though the situation is now particularly acute, it's been years in the making.

"30% is misfortune. 70% is mismanagement," said Murtaza Jafferjee, chair of Colombo-based think tank Advocata Institute.

For the past decade, he said, the Sri Lankan government had borrowed vast sums of money from foreign lenders and expanded public services. As the government's borrowings grew, the economy took hits from major monsoons that hurt agricultural output in 2016 and 2017, followed by a constitutional crisis in 2018 , and the deadly Easter bombings in 2019.

Sri Lankans spend most of their day queueing for fuel and gas as the country's economic crisis worsens.

In 2019, the newly elected President Rajapaksa slashed taxes in an attempt to stimulate the economy.

"They misdiagnosed the problem and felt that they had to give a fiscal stimulus through tax cuts," Jafferjee said.

But while President Rajapaksa was new to the role, he wasn't new to government.

As defense minister under the leadership of his elder brother, Rajapaksa oversaw a 2009 military operation that ended a 26-year civil war with the Liberation Tigers of Tamil Eelam (LTTE). The United Nations opened an investigation last year into allegations of war crimes committed by both sides.

After winning the presidential election, Rajapaksa appointed his brother, former President Mahinda Rajapaksa, as Prime Minister and filled dozens of government roles with serving or former military and intelligence personnel, according to the UN. Their younger brother, Basil Rajapaksa, was later appointed finance minister.

In 2020, the pandemic hit, bringing Sri Lanka's tourist-dependent economy shuddering to a halt as the country shut its borders and imposed lockdowns and curfews. The government was left with a large deficit.

Opposition party supporters shout slogans during a protest outside the President's office in Colombo, Tuesday, March 15, 2022.

Shanta Devarajan, an international development professor at Georgetown University and former World Bank chief economist, says the tax cuts and economic malaise hit government revenue, prompting rating agencies to downgrade Sri Lanka's credit rating to near default levels -- meaning the country lost access to overseas markets.

Sri Lanka fell back on its foreign exchange reserves to pay off government debt, shrinking its reserves from $6.9 billion in 2018 to $2.2 billion this year, according to an IMF briefing.

The cash crunch impacted imports of fuel and other essentials, and in February Sri Lanka imposed rolling power cuts to deal with the fuel crisis that had sent prices soaring, even before the global crunch that ensued as Russia launched an unprovoked invasion of Ukraine

Last month, the government floated the Sri Lankan rupee, effectively devaluing it by causing the currency to plunge against the US dollar.

Jafferjee described the government's moves as a "series of blunder after blunder."

Prime Minister Mahinda Rajapaksa told CNN Saturday that the Finance Minister and his team were working around the clock to put the economy right. He said it was wrong to say the government mismanaged the economy -- instead, Covid-19 was one of the causes.

Previously, the President said he is attempting to resolve it.

"This crisis was not created by me," Rajapaksa said during an address to the nation last month.

Without gas, Sri Lankans are unable to cook food, and power cuts mean electric cookers are unusable.

An impossible situation

The unfolding situation in Sri Lanka has made it incredibly challenging to earn money -- and even getting to work can be a major obstacle for some.

Auto rickshaw driver Thushara Sampath, 35, needs fuel to work so he can feed his family. But both fuel and food are being rationed, and prices are soaring -- the cost of bread has more than doubled from 60 rupees ($0.20) to 125 rupees ($0.42), he said.

Ajith Perera, a 44-year-old auto rickshaw driver, also told CNN he can't survive on fuel rations.

"With the liter or two we receive, we cannot run hires and earn a living," said Perera, with tears in his eyes. "Leave alone looking after my mother, wife and two children, I cannot pay the installment for my taxi to the finance company," he said.

For many, it's an impossible situation -- they can't afford not to work, but they also can't afford not to join long lines for basic goods.

Kanthi Latha, 47, who sweeps roads for a living to feed her two young sons, says she quietly slips away from work to join shorter lines for food before hurrying back.

"I cannot afford to take the day off, if I do I may lose my job," said Latha.

Before the economic crisis, Sivakala Rajeeswari says her husband worked as a construction worker. But with the price of building materials spiking, people are reluctant to undertake even the most basic construction work, she said.

We've never been this poor even with all the money we saved and earned. Upul

Rajeeswari, 40, says she can still earn a living doing chores at people's homes, but for the past few days she's had no time to do anything but wait in line. "I have not had the chance to go and work anywhere," she said. "When will this misery end?"

Even members of the middle class with savings are frustrated.

Upul, the protester, earns a decent wage in a professional job, but says he still can't access essentials he needs for his family. He has enough medicine to treat everyday headaches, pain and fever for now, but he worries about running out.

His family has switched to induction cooking to cut down on the use of gas but frequent power cuts make even doing difficult.

"Neither I nor my family or every other person in Sri Lanka deserve this," he said. "We've never been this poor even with all the money we saved and earned."

Inflation is pushing the price of food higher, putting pressure on people to earn more money to cover basic costs.

What happens next

Sri Lanka is now looking for outside help to ease the economic turmoil -- the IMF, India and China.

During last month's address, President Rajapaksa said he had weighed the pros and cons of working with the IMF and had decided to pursue a bailout from the Washington-based institution -- something his government had been reluctant to do.

"We must take action to fill this deficit and increase our foreign exchange reserves. To this end, we have initiated discussions with international financial institutions as well as with our friendly countries regarding repayment of our loan installments," Rajapaksa said on March 16.

In a news conference Thursday, IMF spokesperson Gerry Rice told reporters: "The Sri Lankan authorities have expressed interest in an IMF-supported financial program.

There's a lot of hate and anger against the President and the cabinet. Paikiasothy Saravanamuttu

"We plan to initiate those discussions pretty much in the coming days, and that will include during the expected visit of the finance minister of Sri Lanka to Washington for our spring meetings in April."

Sri Lanka has also requested help from China and India, with New Delhi already issuing a credit line of $1 billion, India's External Affairs Minister Dr. S. Jaishankar tweeted on March 17.

But that would just be "kicking the can down the road," said Jafferjee, from the Advocata Institute. "This is prolonging the crisis."

Paikiasothy Saravanamuttu, executive director of the Colombo-based Center for Policy Alternatives, worries people's frustration with the government could escalate.

"It's obviously going to have to get a lot worse before it gets better Saravanamuttu said. "There's a lot of hate and anger against the President and the cabinet. Government lawmakers are afraid to face constituents."

Soldiers have been deployed to gas stations to keep the peace as tensions rise.

There's still so much uncertainty around what comes next -- national consumer price inflation has almost tripled from 6.2% in September to 17.5% in February, according to the country's central bank.

"The prices of essentials are changing every day," said Silva, as she lined-up in Colombo. "The price of rice yesterday is not the price we will buy tomorrow."

Thursday's protests -- and the developments since -- also raise the possibility of worse things to come.

Upul, the protester, says he has been demonstrating on behalf of all Sri Lankans. But the new emergency rules make him worried.

"I have been taking part in these protests and even though I was injured, I was not discouraged," he said. "But now, with the new regulation, I am afraid."

Rukshana Rizwie
Iqbal Athas
Julia Hollingsworth
Malkanthi Silva
Paikiasothy Saravanamuttu

Sri Lanka is in chaos and its president has fled. Here's what we ...

(CNN) Sri Lanka has plunged into chaos and its president has fled to Singapore, before emailing his resignation, as questions swirl about the country's future.

Embattled President Gotabaya Rajapaksa arrived in Singapore on a flight from Maldives on Thursday, according to a high-ranking security source in Colombo. He had been in Maldives for just over 24 hours after fleeing Sri Lanka's commercial capital on Wednesday -- the same day he was meant to resign after he pledged to step down following huge protests against his rule at the weekend.

Singapore confirmed that Rajapaksa had landed and been allowed to enter the country on a "private visit" but had not asked for or been granted asylum.

Rajapaksa then tendered his resignation in a letter sent by email to parliamentary speaker Mahinda Yapa Abeywardenena, according to the speaker's office, though the office also cautioned "we cannot accept such an email at face value."

Here's what we know.

Sri Lankan protesters chant slogans after taking control of the Prime Minister's office in Colombo on July 13.

Where is the president?

Rajapaksa had been expected to resign on Wednesday, clearing the way for new leadership. Instead he and his wife boarded a military plane in the early hours of Wednesday and fled from Colombo to Maldives.

The plane had been refused permission to land in Maldives until former Maldivian President Mohamed Nasheed -- now speaker of the Maldivian Parliament -- intervened, according to a high-ranking security official. A spokesperson for Nasheed did not confirm or deny the intervention.

Maldives and Sri Lanka are close neighbors -- the Maldivian capital Male is just a 90-minute flight from Colombo. And Nasheed and the Rajapaksas have a history of cooperation. In 2012, amid anti-government protests in the Maldives, Nasheed and his wife sought political shelter in Sri Lanka, then led by former President Mahinda Rajapaksa, the current president's brother.

The Maldivian government didn't confirm Rajapaksa's presence in the country, but Sri Lankans living in Maldives took to the streets of Male anyway on Wednesday to protest his reported arrival.

Photos from the Maldives capital show a crowd of people holding the Sri Lanka flag, and signs reading: "Throw him out here" and "Dear Maldivian friends, please urge your government not to safeguard criminals."

Sri Lankans living in Maldives stage a demonstration in Male on July 13.

On Thursday, Rajapaksa left Maldives for the Southeast Asian city-state of Singapore, a senior military source familiar with the matter told CNN. The president left on a "Saudi flight," the source said.

CNN believes the source was referring to Saudia flight 788, which left Male at 11:30 a.m. local time Thursday. Saudia is the flag carrier of Saudi Arabia. CNN has reached out to Saudia but has not heard back.

Rajapaksa landed in Singapore later on Thursday, and its Foreign Ministry released a statement that read: "It is confirmed that Mr. Rajapaksa has been allowed entry into Singapore on a private visit. He has not asked for asylum and neither has he been granted any asylum. Singapore generally does not grant requests for asylum."

A Saudia airline Boeing 787 Dreamliner believed to be carrying Sri Lanka's President Gotabaya Rajapaksa arrives at Changi Airport in Singapore on July 14.

Is Rajapaksa still the president?

Sri Lanka's parliamentary speaker, Abeywardenena, has received an email with Rajapaksa's resignation, the speaker's office confirmed to CNN Thursday, but added that the "legality of it needs to be ascertained."

It has been shared with the relevant authorities for the verification of the same," the office said. "Once we have official confirmation and it is legally verified, we hope to make a statement regarding it tomorrow [Friday] morning."

Abeywardenena's office added that it is expecting to receive a paper copy of the letter, but that would take longer as it would be sent from Singapore.

Rajapaksa's resignation would only be considered official once the speaker receives a letter of resignation, according to the country's constitution.

A new president was set to be elected on July 20 after the resumption of parliament on July 16 -- though that timeline is now on hold.

Rajapaksa's departure is a historic moment for the island nation, which his family had ruled with an iron fist for much of the past two decades before losing the faith of their once adoring citizens.

Sri Lankan protesters occupy the prime minister's office in Colombo on July 13.

What's going on with the protests?

Colombo appeared calm on Thursday after several days of escalating protests, with a curfew declared from noon until 5 a.m. on Friday.

Last weekend's demonstrations were among the most dramatic seen so far, with protesters setting fire to Wickremesinghe's private residence in an affluent neighborhood, and swimming in Rajapaksa's private pool.

On Wednesday, hundreds of demonstrators broke into the compound of the prime minister's office in Colombo following a standoff with armed police. Protesters also entered the premises of state broadcaster Sri Lanka Rupavahini.

A protester runs for cover from a tear gas canister during a protest in Colombo, Sri Lanka, on July 13.

Photos from Wednesday show crowds of protesters crammed into the prime minister's office, waving the Sri Lankan flag and singing. Some flooded out onto the balconies and flung open windows, raising their fists at the crowd gathered below.

Police responded with tear gas and water cannons to disperse the crowds. Photos show protesters covering their faces with face masks, bandannas and plastic goggles; some picked up tear gas canisters to throw back toward police.

At least 75 people were injured during the protests Wednesday, according to the National Hospital in Colombo. Many people were brought in due to tear gas inhalation, others with cuts and bruises likely from trying to jump over fences, according to a nurse at the hospital.

One police officer was seriously injured during the protests Wednesday and was rushed to hospital where he was receiving treatment, Sri Lankan police said Thursday. An army sergeant was also injured in scuffles with protesters, police added.

During this incident, protesters took a T-56 rifle and two clips of live ammunition, containing 60 rounds each, police said. Police were looking for the service weapon and ammunition to bring it back into police custody.

As the demonstrations escalated, Wickremesinghe's office declared a state of emergency -- later canceled -- and a nighttime curfew. He also appointed a committee of senior armed forces commanders to coordinate ground troops across Sri Lanka, and to "restore law and order."

What caused the crisis?

Sri Lanka, located just off the coast of India, has been rocked by ongoing protests for months over its worst financial crisis in seven decades.

The country's foreign exchange reserves plummeted to record lows, with dollars running out to pay for essential imports including food, medicine and fuel -- leaving millions unable to feed their families, fuel their cars or access basic medicine.

Frequent and largely peaceful protests have been held since March, with rising public anger over food costs, electricity cuts, and the government's handling of the crisis. Protesters have demanded the resignations of both Rajapaksa and Wickremesinghe.

The crisis has been years in the making, said experts, who point to a series of government decisions that compounded external shocks.

Over the past decade, the Sri Lankan government has borrowed vast sums of money from foreign lenders to fund public services, said Murtaza Jafferjee, chair of Colombo-based think tank Advocata Institute.

This borrowing spree coincided with a series of blows to the Sri Lankan economy, from both natural disasters like monsoons and man-made catastrophes, including a government ban on chemical fertilizers that decimated farmers' harvests.

Facing a massive deficit, Rajapaksa slashed taxes in a doomed attempt to stimulate the economy. But the move backfired, instead hitting government revenue. That prompted rating agencies to downgrade Sri Lanka to near default levels, meaning the country lost access to overseas markets.

Sri Lanka then had to fall back on its foreign exchange reserves to pay off government debt, shrinking its reserves. This impacted imports of fuel and other essentials, which sent prices soaring.

Topping all that, the government in March floated the Sri Lankan rupee -- meaning its price was determined based on the demand and supply of foreign exchange markets. However, the plunging of the rupee against the US dollar only made things worse for ordinary Sri Lankans.

Sri Lanka crisis rages on: Here's what we know - CNN

(CNN) Angry protesters who stormed the official residences of Sri Lanka 's President have forced him to flee the country, but his sudden departure has plunged the South Asian state deeper into crisis.

Demonstrators furious about economic mismanagement and a spiraling financial crisis have demanded that both President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe vacate their roles.

Rajapaksa agreed to step down but fled to the Maldives on Wednesday, naming Wickremesinghe as acting president.

Amid the chaos, the future of the country's 22 million people is uncertain as they struggle to buy basic goods, fuel and medicine.

Here's the latest.

Who's in charge in Sri Lanka?

Despite fleeing the country and appointing Wickremesinghe as acting president, Rajapaksa is yet to formally resign.

Wickremesinghe, meanwhile, posted on Twitter that he would step down as prime minister "to ensure the continuation of the government including the safety of all citizens" but didn't name a date.

As acting president, Wickremesinghe has appointed a committee of senior armed forces commanders headed by the Chief of Defense Staff Lt. Gen. Shavendra Silva to "restore law and order" across the nation, a high-ranking military official told CNN Wednesday.

Wickremesinghe declared a state of emergency across Sri Lanka and a curfew on Wednesday only to later cancel both orders, according to the prime minister's office.

A new president was set to be elected on July 20 after the resumption of parliament on July 16, Parliament speaker Mahinda Yapa Abeywardena said in a statement Monday, with the purpose of ensuring a new all-party unity government is in place as soon as possible, in accordance with the country's constitution.

Rajapaksa's sudden departure briefly clouded that plan in uncertainty; Rajapaksa and his wife flew on Wednesday to Malé, in the Maldives, on an AN32 troop transport plane from the Sri Lanka Air Force, according to a high-ranking security official.

JUST WATCHED Video shows Sri Lankan Prime Minister's house in flames Replay More Videos ... MUST WATCH Video shows Sri Lankan Prime Minister's house in flames 00:49

Maldivian air traffic control refused the plane's request to land until an intervention by the speaker of the Maldivian Parliament and former President Mohamed Nasheed, according to the official. A spokesperson for Nasheed did not confirm or deny the intervention.

Rajapaksa was previously blocked from departing Sri Lanka at least twice on Monday, after refusing to join a public immigration queue at the Bandaranaike International Airport, a high-ranking military source told CNN.

Abeywardena said President Rajapaksa reassured him of his resignation over the phone on Wednesday, but that he is still waiting for the official document confirming it. As per Sri Lanka's constitution, Rajapaksa's resignation is only considered official once the speaker of Parliament receives a letter of resignation.

"The President who is overseas at the moment phoned to me to reassure me of his resignation from the presidency. With regards to an official document signifying it, I was told that it would reach me within the day today," Abeywardena said during a televised briefing.

Following the protests over the weekend, the International Monetary Fund (IMF) said it was closely monitoring developments in the country.

"We hope to resolve the current situation that will allow for the resumption of our dialogue on an IMF-supported programme while we plan to continue technical discussions with our counterparts in the Ministry of Finance and Central Bank of Sri Lanka," said IMF mission chiefs Peter Breuer and Masahiro Nozaki in a joint statement on Sunday.

Photos: Protesters storm Sri Lankan prime minister's office as president flees People protest outside the prime minister's office in Colombo, Sri Lanka, on Wednesday, July 13. Hide Caption 1 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A man sits in a chair inside the prime minister's office on Wednesday. Hide Caption 2 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters celebrate after they entered the prime minister's office on Wednesday. Hide Caption 3 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters shout slogans outside the prime minister's office. Hide Caption 4 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People celebrate after entering the prime minister's office. Hide Caption 5 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters storm the prime minister's office. Hide Caption 6 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People help a protester who was affected by tear gas on Wednesday. Hide Caption 7 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People protest outside the prime minister's office. Hide Caption 8 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters wave the national flag after entering the prime minister's office. Hide Caption 9 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A man throws a cone amid tear gas on Wednesday. Hide Caption 10 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters on Wednesday demanded that neither the president nor the prime minister "be spared." Hide Caption 11 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A protester pours water on a man outside the prime minster's office. Hide Caption 12 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People help an injured protester in Colombo on Wednesday. Hide Caption 13 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters break down the gate to the prime minister's office on Wednesday. Hide Caption 14 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Hundreds of protesters breached the compound of the prime minister's office on Wednesday. Hide Caption 15 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A protester takes a selfie near a swimming pool inside the presidential palace in Colombo on Wednesday. Protesters broke into that building over the weekend. Hide Caption 16 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Tear gas is used to disperse protesters at the prime minister's office on Wednesday. Hide Caption 17 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Soldiers patrol near the official residence of President Gotabaya Rajapaksa on Tuesday. Hide Caption 18 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Crowds gather at the president's office in Colombo on Tuesday. Hide Caption 19 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A man waves Sri Lanka's national flag after climbing a tower in Colombo on Monday. Hide Caption 20 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Members of the police stand guard in front of the police headquarters in Colombo during a protest on Monday. Hide Caption 21 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees On Monday, two days after protesters stormed the President's House in Colombo, people continued to flock to the capitol to see the palace. Hide Caption 22 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People protest inside the President's House on Saturday. Hide Caption 23 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees More than 100,000 people amassed outside the President's House on Saturday, police said. Hide Caption 24 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters swim in the pool at the President's House on Saturday. Hide Caption 25 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees An injured protester is carried away to an ambulance on Saturday. Hide Caption 26 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People sit on a bed inside the President's House. Hide Caption 27 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Firefighters work inside the private residence of Prime Minister Ranil Wickremesinghe after protesters set it on fire on Saturday. Hide Caption 28 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A Buddhist monk takes part in Saturday's protest. Hide Caption 29 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police fired water and tear gas to disperse protesters gathering in the street leading to the President's House. Hide Caption 30 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A protester reacts to tear gas that was used by police near the President's House on Saturday. Hide Caption 31 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Firefighters try to douse a fire at the prime minister's private residence on Saturday. Hide Caption 32 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters run from tear gas used by police near the president's residence on Saturday. Hide Caption 33 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees People gather inside the President's House. Hide Caption 34 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Tens of thousands of people have taken to the streets in recent months, calling for the country's leaders to resign over accusations of economic mismanagement. In several major cities, including Colombo, hundreds are forced to line up for hours to buy fuel, sometimes clashing with police and the military as they wait. Hide Caption 35 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police use a water cannon as they try to disperse protesters Saturday in Colombo. Hide Caption 36 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters carry an injured man on Saturday. Hide Caption 37 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Demonstrators celebrate after entering the President's House on Saturday. Hide Caption 38 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police use tear gas to disperse protesters Saturday. Hide Caption 39 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A protester stands above the crowd at the President's House on Saturday. Hide Caption 40 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Tear gas is fired during Saturday's chaotic scene in Colombo. Hide Caption 41 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Protesters gather inside the President's House on Saturday. Hide Caption 42 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police use tear gas to disperse university students protesting in Colombo on Friday. Hide Caption 43 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police stand behind a barricade during a protest near the President's House on Friday. Hide Caption 44 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A man holds up his phone during protests in Colombo on Friday. Hide Caption 45 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A Catholic priest and a nun shout slogans during a protest near the President's House on Friday. Hide Caption 46 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A man has his eyes flushed with water after tear gas was dispersed on protesters in Colombo on Friday. Hide Caption 47 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees Police fire tear gas at university students during a protest on Friday. Hide Caption 48 of 49 Photos: Protesters storm Sri Lankan prime minister's office as president flees A university student shouts slogans on top of a barricade during a protest Friday. Hide Caption 49 of 49

Where is the protest movement at now?

At least 75 people were injured during protests in Sri Lanka on Wednesday, according to the National Hospital in Colombo.

Earlier in the day Sri Lankan police used tear gas to disperse protesters. According to a nurse at the hospital, many people were brought in due to tear gas inhalation, others with cuts and bruises likely from trying to jump over fences.

One police officer was seriously injured during the protests Wednesday and was rushed to hospital where he was receiving treatment, Sri Lankan police said Thursday. An army sergeant was also injured in scuffles with protesters, police added.

During this incident, protesters took a T-56 rifle and two clips of live ammunition, containing 60 rounds each, police said. Police were looking for the service weapon and ammunition to bring it back into police custody.

Over the weekend tens of thousands of protesters massed outside the President's office and residence before breaking through security cordons.

Striking images shared on social media show them singing protest songs and chanting slogans calling for Rajapaksa to resign. Other photos showed groups of demonstrators setting up barbecue pits to grill and cook food.

Protesters take over the compound of Sri Lanka's Presidential Palace in Colombo.

Sri Lanka's Armed Forces spirited Rajapaksa away to a naval vessel minutes before protesters stormed his residence, a high-ranking military source told CNN Sunday.

The president came down from his bedroom in the upper floor of the palace and exited the premises moments before the demonstrators broke the compound's first barrier, the source added.

Later on Saturday, protesters targeted Wickremesinghe's house, setting fire to his private residence on Fifth Lane, an affluent neighborhood in the capital. Live video seen by CNN showed the building engulfed in flames as crowds gathered at the scene and cheered.

Protesters in Sri Lanka occupy the residence of the prime minister.

The leaders were not at their residences when the buildings were breached and were moved to secure locations before the attacks, according to security officials.

Demonstrations continued into the week; on Wednesday, after Rajapaksa left the country, protesters breached the compound of the prime minister's office and also entered the premises of state broadcaster Sri Lanka Rupavahini.

Protests have been escalating in Sri Lanka since March, when public anger erupted on the streets over rising food costs, fuel shortages and electricity cuts as the country struggled to make debt repayments.

Police fire water and tear gas to disperse protesters gathering in a street leading to the President's official residence on July 9.

What is life like now in Sri Lanka?

The country has suffered its worst financial crisis in seven decades, after its foreign exchange reserves plummeted to record lows, with dollars running out to pay for essential imports including food, medicine and fuel.

For Sri Lankans, the crisis has turned their daily lives into an endless cycle of waiting in lines for basic goods, many of which are being rationed.

Despite earlier efforts by the government to ease the crisis, like the introduction of a four-day work week , Wickremesinghe declared the country "bankrupt" last Tuesday.

In several major cities including the commercial capital, Colombo, desperate residents continue to queue for food and medicine, with reports of civilians clashing with police and the military as they wait in line.

In early July, Energy Minister Kanchana Wijesekera said the country had less than a day's worth of fuel left.

Trains have reduced in frequency, forcing travelers to squeeze into compartments and even sit precariously on top of them as they commute to work.

Patients are unable to travel to hospitals due to the fuel shortage and food prices are soaring. Rice, a staple in the South Asian nation, has disappeared from shelves in many shops and supermarkets.

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Public frustration and anger erupted on March 31, when demonstrators hurled bricks and started fires outside the President's private residence.

Police used tear gas and water cannons to break up the protests, and imposed a 36-hour curfew afterward.

President Rajapaksa declared a nationwide public emergency on April 1, giving authorities powers to detain people without a warrant, and blocked social media platforms.

But protests went ahead the next day in defiance of the curfew, prompting police to arrest hundreds of demonstrators.

What's the background to these protests?

The crisis has been years in the making, said experts, who point to a series of government decisions that compounded external shocks.

Over the past decade, the Sri Lankan government has borrowed vast sums of money from foreign lenders to fund public services, said Murtaza Jafferjee, chair of Colombo-based think tank Advocata Institute.

This borrowing spree has coincided with a series of hammer blows to the Sri Lankan economy, from both natural disasters -- such as heavy monsoons -- to man-made catastrophes, including a government ban on chemical fertilizers that decimated farmers' harvests.

Facing a massive deficit, Rajapaksa slashed taxes in a doomed attempt to stimulate the economy.

But the move backfired, instead hitting government revenue. That prompted rating agencies to downgrade Sri Lanka to near default levels, meaning the country lost access to overseas markets.

Sri Lanka then had to fall back on its foreign exchange reserves to pay off government debt, shrinking its reserves. This impacted imports of fuel and other essentials, which sent prices soaring.

Topping all that, the government in March floated the Sri Lankan rupee -- meaning its price was determined based on the demand and supply of foreign exchange markets.

However, the plunging of the rupee against the US dollar only made things worse for ordinary Sri Lankans.

BRICS: China's Xi Jinping blasts Western sanctions for 'weaponizing ...

Hong Kong (CNN) Chinese leader Xi Jinping set the tone for a virtual summit with leaders from major emerging economies in a pointed speech Wednesday evening, in which he decried sanctions as "weaponizing" the global economy and urged unity in the face of financial challenges.

Xi, who spoke at a business forum ahead of the virtual summit Thursday with leaders from the BRICS economic bloc of Brazil, Russia, India, China, and South Africa, portrayed the world as being at a critical juncture as it struggled to recover from the pandemic amid what he termed new "security challenges."

"The tragedies of the past tell us that hegemony, group politics and bloc confrontation bring no peace or security; they only lead to wars and conflicts," he said via videolink.

"The Ukraine crisis is another wake-up call for all in the world. It reminds us that blind faith in the so-called 'position of strength' and attempts to expand military alliances and seek one's own security at the expense of others will only land oneself in a security dilemma," Xi said.

The comments appeared to be a veiled reference to the United States and NATO, whom Beijing has repeatedly blamed for provoking Russia's aggression in Ukraine.

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