Category: Daily Financial Times

Initiated in the United States last year, there is a unique pilgrimage undertaken by a small group of Buddhist monks – around 19 to 24 Theravada Buddhist clergy members from the Huong Dao Buddhist Temple in Fort Worth, Texas, led by spiritual leader Ven. Bhikkhu Pannakara. The purpose is peace.

On 6 January, when this writer finished the needed research and began writing this article, it was day 73 of what can be described as a deeply needed spiritual panacea for our world.

It is one of the most unique cross-country monastic Dharmic endeavours in the United States, drawing mass-scale interest and thus having a strong impact on local communities. Not because of the number of participating Buddhist clergy, but rather for the profound authenticity of what they are engaged in.

Walk for Peace is fast gathering momentum in terms of global public awareness as a result of the campaign having a very strong online presence. The team behind the online updates of the monks’ routes had uploaded that they had entered South Carolina (from Georgia) in the middle of the first week of 2026 and were proceeding onward. The walk is intended to encourage peace, loving-kindness and compassion across America and the world. The walk is passing through 10 states overall, and will have covered 2,300 miles over 120 days when the mission ends in Washington, DC, around mid-February this year.

The monks have been stopping at state capitols, and those who cannot see this beautiful initiative in person can follow it using a live online map.

Every day, the Venerable Theros have a lunchtime rest stop and a night rest stop, sharing the locations and times with the public, who are invited to join them at these times on the understanding that this is a time of meditation. Reportedly, and as seen in photographs on social media, alms and donations for the monks have been consistent. The Buddhist monks who have embarked on this peace walk have a support vehicle following them and, interestingly, a former stray dog, rescued from India and named Aloka, walking beside the Buddhist clergy members but getting rides whenever it is cold or tired.

The Walk for Peace monastic route will pass through Raleigh between January 20 and 30, including a stop at the North Carolina State Capitol, the online content reveals.

The public is requested to provide lodging and food through the website – https://dhammacetiya.com/walk-for-peace/food-donation-offer

The organisers emphasise that it is a spiritual ‘prayer in motion’ intended to promote inner healing, empathy and national unity.

This mission began on 26 October 2025, charting routes through 10 states, including Texas, Louisiana, Mississippi, Alabama, Georgia, South Carolina, North Carolina, and Virginia.

Throughout this mission, the monks practice their ascetic lifestyle, walking approximately 20-30 miles per day, eating only one vegetarian meal daily, and typically sleeping outdoors in tents. This peace-dedicated initiative had one incident that marked the direction and significance of what they practiced.

Early in the journey near Dayton, Texas (November 2025), a truck struck the group’s escort vehicle, which was pushed into two monks, with one monk, Ven. Bhante Dam Phommasan, suffering severe injuries and requiring a leg amputation. However, he rejoined the group in Georgia in late December 2025 to continue the mission and, most importantly, chose to completely forgive the driver.

The 2025-2026 Walk for Peace initiative was born from a desire to address societal division and suffering through Buddhism and the ancient spiritual practice of meditative walking that the Buddha and his disciples actively used. It officially began on October 26, 2025, at the Huong Dao Vipassana Bhavana Centre in Fort Worth, Texas.

nThe walk was organised by Venerable Bhikkhu Pannakara (also known as Ven. Thich Tu? NhSn), the vice president of the Huong Dao Temple. He envisioned the journey as a way to ‘awaken the peace that already lives within each of us’. The campaign was timed to address what organisers described as a ‘suffering society’ facing mental health crises and deep social and political polarisation. The goal is to prove that ‘peace begins within the heart’ and can extend outward to the nation.

nThe campaign follows the Buddhist tradition of walking pilgrimages, where monks leave their temples to practice mindfulness and spiritual discipline in the world.

nThe journey’s mascot, the rescue dog Aloka, was found by Bhikkhu Pannakara during a previous peace walk in India. Aloka was brought to the US to accompany the monks on this mission.

nBefore launching their peace pilgrimage, the monks held a press conference and religious ceremony on October 19, 2025, where they dedicated their steps to bringing blessings to a ‘world filled with uncertainty’.

nThe walk is also linked to the temple’s broader Dhammacetiya Project, to preserve Buddhist scriptures and promote global wisdom.

Sri Lanka Insurance Corporation General Ltd., (SLICGL) was the Official Insurance Partner of the ‘Kedella Art of Living 2025’ Home and Lifestyle Exhibition, held from 14-16 November 2025, at the BMICH, Colombo, conducted for the 19th consecutive year.

Recognised as one of Sri Lanka’s leading construction and lifestyle exhibitions, Kedella attracted thousands of homeowners, builders, architects, interior designers, and entrepreneurs from around the country.

SLICGL firmly believes every Sri Lankan deserves the peace of mind knowing their home is secure. At Kedella 2025, SLIC highlighted the importance of home insurance in safeguarding families against unforeseen risks such as fire, natural disasters, and accidents. SLICGL also emphasised home insurance is no longer a luxury but necessity for protecting one’s most valuable asset.

In addition, with property ownership on the rise and lifestyle investments growing, SLICGL’s Home Protect Insurance is designed as a comprehensive insurance policy, with customised offers for today’s homeowners.

The SLICGL Home Protect Insurance scheme offers flexible coverage options at competitive premiums, ensuring protection is within reach for homeowners, property investors, and builders in Sri Lanka. Combining affordability with reliability, SLICGL empowers families to protect their homes and dreams without financial strain.

Facilitating greater ease of access, SLICGL participated in the Kedella activations to broaden customer reach and strengthen awareness. Over three days, the team engaged with visitors, introducing the SLICGL Home Protect Lite scheme which offers five flexible and affordable home insurance plans. Visitors to the exhibition were also briefed on the SLICGL Home Protect Insurance solution.

During the exhibition, the SLICGL sales force connected with over hundreds of visitors, successfully raising awareness, strengthening trust, addressing queries, and reaffirming the company’s commitment to supporting them in protecting their dreams.

As the world enters a new year, it is becoming increasingly clear that South Asia’s existing models of regional cooperation are no longer fit for purpose. Institutions such as South Asian Association for Regional Cooperation (SAARC) – and even The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC, an association of seven countries in the littoral and adjacent areas of the Bay of Bengal) – were products of a different geopolitical moment, one defined by relatively stable multilateralism, predictable great-power leadership, and modest regional ambitions. That world has now decisively ended.

The year 2025 will likely be remembered as a turning point. Through a series of disruptive policy choices – most notably the sweeping so-called ‘Liberation Day’ tariffs announced on April 2 – the US signalled its willingness to consciously dismantle key elements of the post-war international economic order that it had itself built and led. That order, despite its flaws, enabled unprecedented global prosperity, lifting hundreds of millions out of poverty both within and beyond the US. Its unravelling marks not merely a tactical shift, but a structural transformation of global politics and economics.

What is emerging in its place is a genuinely multipolar world. Power, production, innovation, and influence are no longer concentrated along a single axis. In this new configuration, India stands out not simply as a large country, but as a pivotal pole – economically, technologically, politically, and civilisationally.

India’s influence today extends well beyond South Asia. Its economic gravity increasingly shapes outcomes across West Asia, Africa, the Indo-Pacific, and parts of Europe. Few countries enjoy India’s unique strategic positioning, deep historical and civilisational ties across regions, strong relations with the West, enduring engagement with Russia, and credibility across the Global South. Ancient trade routes, religious linkages, and shared cultural memory now intersect with modern supply chains, digital networks, and energy corridors, creating an Indian footprint far wider than traditional regional maps suggest.

As India enters a phase of accelerated growth, its capacity to uplift not only South Asia but a much broader neighbourhood will expand correspondingly. This reality exposes the limitations of existing regional institutions. SAARC, constrained by political gridlock and a narrow geographic imagination, has long ceased to function as an effective vehicle for regional integration. BIMSTEC, while more functional and forward-looking, remains restricted in scope and ambition. Both reflect an older era – one in which India was a regional power among others, rather than a central node linking multiple overlapping regions.

The coming year will only reinforce the need for rethinking. The disruption witnessed in 2025 will not subside in 2026; instead, the transition to a multipolar world is likely to accelerate. Long-standing multilateral institutions, regional arrangements, and even bilateral understandings will come under growing pressure – some to be reformed, others bypassed or rendered irrelevant.

Technology will be a major driver of this transformation. Artificial intelligence is already reshaping economies, governance, warfare, and social structures at a pace unmatched by previous industrial revolutions. Energy systems, too, are entering a period of radical change – from green hydrogen to nuclear fusion to advanced grids and storage technologies. Here again, India is not merely a participant but a catalyst, shaping markets, standards, and innovation pathways.

In parallel, the global economy is reorganising itself around the idea of ‘trustworthy supply chains’. Reliability, resilience, and political alignment now matter as much as cost efficiency. In this environment, India’s scale, democratic institutions, manufacturing ambitions, and strategic autonomy position it as a critical anchor in global supply networks.

In parallel, the global economy is reorganising itself around the idea of ‘trustworthy supply chains’. Reliability, resilience, and political alignment now matter as much as cost efficiency. In this environment, India’s scale, democratic institutions, manufacturing ambitions, and strategic autonomy position it as a critical anchor in global supply networks.

Major initiatives already point in this direction. The India-Middle East-Europe Economic Corridor represents more than a connectivity project; it is a template for a new form of trans-regional cooperation linking South Asia to Europe through West Asia. Similarly, the proposed India-EU free trade agreement, alongside India’s expanding network of trade and investment partnerships, has the potential to generate spillover benefits for neighbouring South Asian economies – provided the region is imaginatively integrated into these frameworks.

As India’s connectivity with the world deepens -across transport, energy, digital infrastructure, and finance – the positive externalities for South Asia will grow. But these benefits cannot be fully realised within the rigid institutional boundaries of SAARC or BIMSTEC. What is needed instead is a broader, more flexible cooperation framework – one that reflects India’s real economic and strategic geography rather than inherited cartography.

There is little doubt that the US and Europe will spend the coming period reassessing their global roles and institutional architectures. India should do the same. Rather than investing political capital in reviving outdated structures, New Delhi should begin articulating a new cooperation forum – one that transcends South Asia while remaining anchored in it. Such a platform could incorporate parts of West Asia, Africa, and the Indo-Pacific, organised around practical cooperation in trade, energy, technology, connectivity, standards and culture rather than ideological alignment.

This would not be an exercise in exclusion, nor an attempt to replace existing institutions overnight. Instead, it would represent a new paradigm – aligned with the realities of a multipolar world and India’s emerging responsibilities within it.

The year 2026 should therefore be seen not merely as another year of adjustment, but as a moment to lay the foundations of this new vision. If India is to shape, rather than merely adapt to, the evolving global order, it must begin by reimagining the very idea of ‘region’ itself.

(The writer is a former Sri Lankan cabinet minister and diplomat, and founder of the Sri Lankan strategic affairs think tank, Pathfinder Foundation, can be contacted via [email protected] -Courtesy Hindustan Times 2026.01.01)

The Inter-Club Rugby League 2025/26 reaches a pivotal stage when defending champions and unbeaten Kandy Sports Club face arch-rivals CR and FC in a blockbuster encounter at the Nittawela Rugby Stadium tomorrow.

Kick-off is at 3:45 p.m.

A capacity crowd is expected in Kandy, where the champions traditionally draw the largest and most passionate supporter base in domestic rugby. Although Kandy have not consistently operated at full throttle in recent matches, their formidable home record built over three decades continues to make Nittawela one of the toughest venues for visiting teams.

Skipper Tharindu Chathuranga leads a dangerous backline packed with pace and attacking intent. The three-quarter combination of Dhanushka Ranjan, Diluksha Dange, Dinal Ekanayake, and Kavindu Perera has regularly tested opposition defences with speed and sharp execution. Much focus will be on Akash Madushanka, who will be eager to deliver a defining performance, while veteran Soori has been among Kandy’s most reliable contributors, providing leadership and momentum with his vast club experience.

Up front, Kandy’s forwards will aim to assert early dominance. Dilshan Fareed at hooker, alongside Thilina Bandara and Dahan Wickramarachchi, have been tireless at the breakdown and in contact. The coordination of scrum-half Heshan Jansen had gelled the team tightly. The possible late introduction of former Kandy and national player Buwaneka Udangamuwa could further bolster their impact and composure in the closing stages.

CR and FC arrive in Nittawela with confidence, having won all their matches except for a narrow loss to CH. Led by Lasindu Karunathilake, the Reds have impressed with their structure, discipline, and tactical awareness. Key performers such as Thenuka Nanayakkara, Chamod Muthunayake, and Murshid Doray have been consistently influential, with Nanayakkara’s game management and goal-kicking giving CR a notable edge.

While Kandy’s home advantage and depth make them slight favourites, CR’s superior kicking accuracy could prove decisive if the contest becomes penalty-driven. With pride, momentum, and League supremacy at stake, all signs point to a high-intensity encounter worthy of its heavyweight billing.

Referee Raveen Alexander will officiate. (SJ)

The Colombo stock market yesterday ended the week 3.45% on the up with the ASPI six points shy of reaching a new all-time high and gaining Rs. 264.8 billion in value during the week.

During the week, the ASPI had gained 790.22 points and the S and P SL20 gained 5.12% or 316.93 points.

Yesterday, the ASPI closed 0.54% or 127.17 points on the up to 23,654.30, and the S and P SL20 was up 0.70% or 44.99 points to 6,503.02. The ASPI hit an all-time high of 23,659 points on 12 November 2025.

Turnover was over Rs. 8.5 billion on nearly 269.4 million shares traded. Foreign investors were net buyers on a net inflow of Rs. 8.5 million.

First Capital Research said the Colombo bourse showed a positive trading session, with the market starting slightly weak but quickly stabilising and moving higher as the day progressed. Price movements were orderly and low in volatility, indicating steady buying interest and improving investor confidence.

Top positive contributors to the ASPI were JKH, COMB, VONE, CARS, and NTB.

HNW participation was high during the day, while 28% of the turnover came from crossings. Retail investors demonstrated moderate participation in trading. Investor interest in real estate sector counters continued, supporting trading activity within the sector.

The Diversified Financials counters contributed 25% of total turnover, while the Food, Beverage and Tobacco and Capital Goods sectors together accounted for 32%.

Asia Securities said the Real Estate Management and Development Banks, Diversified Financials, and Capital Goods sectors led activity, collectively accounting for 77.7% of turnover.

Net foreign buying topped in COMB at Rs. 53.8 million, while net foreign selling topped in SHAW at Rs. 1,708.3 million. Crossings accounted for 39.9% of turnover led by SHAW at Rs. 3,932.6 million, COMB at Rs. 467.6 million, and CHL at Rs. 128.7 million. Market P/E was 11.14.

NDB Securities said

The ASPI closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Vallibel One.

High net worth and institutional investor participation was noted in LOLC Holdings, Renuka Agri Foods and ACL Cables. Mixed interest was observed in Sampath Bank, Overseas Realty and CIC Holdings nonvoting whilst retail interest was noted in SMB Leasing, Co-Operative Insurance Company and LVL Energy Fund.

The Diversified Financials sector was the top contributor to the market turnover due to LOLC Holdings) whilst the sector index gained 0.35%. The share price of LOLC Holdings increased by Rs. 8.25 to close at Rs. 574.75.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover due to Renuka Agri Foods) whilst the sector index increased by 0.56%. The share

price of Renuka Agri Foods gained 30 cents to close at Rs. 14. Sampath Bank, ACL Cables and Overseas Realty were also included amongst the top turnover contributors. The share price of Sampath Bank moved up by 75 cents to close at Rs. 154.75. The share price of ACL Cables recorded a gain of Rs. 2.50 to close at Rs. 103.50. The share price of Overseas Realty appreciated by Rs. 2.90 (6.87%) to close at Rs. 45.10.

Half-centuries from skipper Avishka Fernando (74 off 110 balls, 6 fours, 3 sixes) and Nipun Dananjaya (89* off 170 balls, 1 four) saw SSC to a total of 272-5 against Colombo Malay CC in their Tier B 3-Day League match begun at SLDCC Grounds, Kirimandala yesterday.

Second-placed Moratuwa SC meanwhile suffered a first day washout with not a ball being bowled in their contest against United Southern SC at Saliyapura Army Grounds, Anuradhapura.

Keshan Wanniarachchi (55 off 135 balls, 3 fours) and Umesh Lakshan (63 off 89 balls, 10 fours) shared a partnership of 112 for the third wicket in Negombo CC’s first innings of 257-7 against Leo CC at the Air Force Grounds, Katunayake. Left-arm spinner Mangala Pradeep took four of the wickets, conceding 88 runs.

Army SC did well to dismiss Galle CC for 194, but found themselves in some kind of trouble at 70-4 by the close at the Moors SC Grounds. Galle CC got off to a sound start, with openers Ramesh Nimantha (62 off 78 balls, 7 fours) and skipper Amith Eranda (56 off 51 balls, 8 fours, 2 sixes) contributing a stand of 106 at a run-a-ball. However, Galle CC could not capitalise on that partnership and lost nine wickets for 55 runs in a sensational collapse triggered by off-spinner Shehada Zoysa (5/63).

Sebastianites had their match against Navy SC under control at Bloomfield Grounds. Navy SC threw away a good start given by their top order to be all out for 255 after being 198-3 at one stage. Lakshan Rodrigo (65 off 49 balls, 13 fours) and Thevindu Dickwella (42 off 43 balls, 5 fours, 2 sixes) added 111 for the second wicket off 89 balls, followed by an 81-run stand by Waruna Mayantha (64 off 90 balls, 6 fours, 4 sixes) and Sumalka Fernando (65 off 128 balls, 12 fours), but the rest of the batting was consumed by spinners Miranga Wickramage (4/78) and Hashan Sandeepa (4/57). By stumps, Sebastianites were 61 without loss.

Ashan Randika scored 120 off 182 balls (13 fours, 2 sixes) and put together a stand of 145 with Dilan Jayalath (71 off 130 balls, 6 fours) for Kandy Customs SC to end the first day on 300-all out against Ragama CC at Salawa Army Grounds, Kosgama.

Industry and Entrepreneurship Development Minister Sunil Handunneththi yesterday confirmed that Sri Lanka’s export revenues exceeded $ 17 billion in 2025, highlighting the resilience of the country’s exporters and the impact of coordinated policy support, strategic market development, and targeted capacity-building initiatives.

Addressing the official launch of Sri Lanka Expo 2026, the Minister congratulated the export community, the Sri Lanka Export Development Board (EDB), and all partner institutions for achieving the milestone, describing it as a reflection of both exporter innovation and effective public-private collaboration.

Handunneththi stressed that Sri Lanka Expo 2026, to be held after a 14-year hiatus, is not merely an exhibition, but a strategic national platform designed to help exporters penetrate new markets, attract international buyers, and showcase the best of Sri Lanka to the world. ‘Sri Lanka Expo 2026 should serve as a catalyst for export expansion, diversification, and long-term economic resilience,’ he added.

He said the Expo brings together policies, products, and people to create tangible business opportunities in global markets.

The Minister noted that Sri Lanka must pursue an ambitious export agenda by diversifying its export basket, expanding into emerging markets beyond traditional destinations and adding greater value across sectors. ‘Agriculture, lifestyle products, ICT, and creative industries, all have strong potential to scale up, provided they gain the right exposure, connections, and institutional support,’ he added.

Calling for stronger diplomatic and overseas engagement, Handunneththi urged Sri Lankan missions abroad, Ambassadors, and diplomats to actively assist exporters by connecting them with buyers, investors, and business opportunities. He said their networks and advocacy play a critical role in expanding Sri Lanka’s trade footprint and ensuring the success of Sri Lanka Expo 2026.

The Minister also called on Sri Lankan mission heads and officials joining virtually to proactively promote exporters, facilitate buyer engagement, and help convert the exhibition into meaningful commercial outcomes.

Handunneththi encouraged companies to collectively support the Expo by inviting overseas partners and working closely with the Government to maximise its impact.

Describing Sri Lanka Expo 2026 as a clear expression of national trade policy, the Minister said the initiative links Government strategy with private sector capability, promotes market diversification, and supports sustainable growth.

He said leveraging such platforms is vital to strengthening exports, attracting investment, and positioning Sri Lanka as a trusted and competitive trading partner.

Handunneththi expressed confidence that the event will elevate Sri Lanka’s global presence, unlock new opportunities for exporters, and contribute to sustained economic growth.

THE recent seizure by the United States of a Russian-flagged oil tanker on the high seas has drawn sharp diplomatic protest from Russia, but the real significance of the episode lies well beyond the immediate bilateral dispute. At its core, the incident raises a fundamental question confronting the contemporary international system: can a State unilaterally enforce its domestic sanctions regime on the high seas without multilateral authorisation?

On the surface, the episode may appear technical-one vessel, one interception, one diplomatic exchange. Yet history shows that seemingly isolated maritime incidents often signal deeper shifts in how power is exercised and justified. For maritime trading nations and smaller states, the stakes are particularly high, because the law of the sea has long functioned as one of the few domains where rules have meaningfully restrained power.

Flag-state jurisdiction: The bedrock of maritime order

Modern maritime governance rests on a clear and long-established rule: a vessel operating on the high seas is subject almost exclusively to the jurisdiction of the state whose flag it flies. This principle, codified in the United Nations Convention on the Law of the Sea (UNCLOS), emerged from centuries of conflict, competition, and negotiation over control of the oceans.

The purpose of flag-state jurisdiction is not to privilege any particular power, but to ensure predictability. Without it, the seas would revert to a condition where the strongest navy could impose its will on commercial shipping, undermining global trade and security alike. In legal terms, therefore, a Russian-flagged tanker operating beyond territorial waters remains under Russian jurisdiction, irrespective of political disputes over its cargo or destination.

This rule has been one of the quiet successes of post-war international law. It has allowed maritime commerce to expand on an unprecedented scale, insulated, though never entirely, from geopolitical rivalry.

Narrow exceptions, not open licence

UNCLOS recognises that no rule can be absolute, and it therefore provides narrowly defined exceptions to flag-state exclusivity. States may board or seize vessels in cases of piracy, where ships are stateless or fraudulently registered, where the flag state consents, or where the UN Security Council has explicitly authorised maritime interdiction.

These exceptions are deliberately limited. Their narrow scope reflects a shared understanding that enforcement on the high seas, if left unchecked, would quickly become destabilising. Importantly, unilateral sanctions enforcement does not fall within these recognised exceptions.

Sanctions, however justified in moral or policy terms, remain instruments of domestic or coalition law unless elevated through multilateral processes. This distinction is not academic. It is precisely what separates collective security from coercive unilateralism.

The US justification and its legal fragility

Washington has sought to justify the seizure by arguing that the tanker was part of a clandestine ‘shadow fleet’ engaged in deliberate sanctions evasion. Allegations include opaque ownership structures, deceptive reflagging practices, and efforts to obscure the vessel’s true operational control.

International law does permit limited boarding where a vessel is stateless or fraudulently flagged, particularly to verify nationality. Yet this authority is tightly circumscribed. The legality of any seizure ultimately depends not on suspicion or intent, but on the vessel’s actual legal status at the moment of interception.

If the tanker was validly registered under Russian law and recognised as such internationally, the legal justification for unilateral seizure becomes fragile. This distinction is crucial. It marks the line between lawful verification and coercive enforcement, and between rule-based order and power-based practice.

Russia’s response: Law, rhetoric, and strategic signalling

Russia’s reaction has been framed in legal language-freedom of navigation, sovereign equality, and the sanctity of flag-state jurisdiction-combined with sharper political rhetoric. References to ‘piracy’ are legally imprecise, but politically purposeful. They signal Moscow’s rejection of what it perceives as extraterritorial enforcement by a dominant power.

Beyond rhetoric, the episode has carried strategic signalling. Reports of Russian naval shadowing during the incident underscore the risk that economic enforcement actions may spill into the military domain. As maritime trade becomes increasingly securitised, the boundary between law enforcement and power projection grows thinner.

Selective sovereignty and the precedent problem

The tanker seizure fits a broader and troubling global pattern: selective sovereignty. States increasingly invoke sovereignty as inviolable when it shields their own actions yet treat it as conditional when it obstructs strategic objectives. This selectivity erodes the normative foundations of the international system.

Precedents matter deeply in international relations. If unilateral maritime enforcement becomes normalised under the banner of sanctions compliance, other powers will inevitably adopt similar practices under their own legal narratives. What is framed today as legitimate enforcement by one state may tomorrow be replicated by another, citing different laws, interests, or security concerns.

Why this matters for Sri Lanka and other maritime states

For maritime states such as Sri Lanka, the implications of this trend extend far beyond abstract legal debate. Sri Lanka sits astride one of the world’s busiest east-west shipping corridors, through which a substantial share of global energy supplies and commercial traffic passes.

As major powers expand sanctions enforcement, naval surveillance, and shadowing operations in the Indian Ocean, there is a growing risk that ostensibly neutral waters around Sri Lanka could become operational spaces for great-power contests-without Sri Lanka’s consent or participation. Such a development would not require open conflict. Even intensified naval presence, intelligence activity, or diplomatic pressure related to port access would narrow Sri Lanka’s strategic autonomy.

For non-aligned, trade-dependent states, the weakening of multilateral maritime norms carries immediate and tangible consequences. The defence of freedom of navigation and an UNCLOS-based order is therefore not merely principled; it is existential.

The Indian Ocean as a contest space

The broader context cannot be ignored. The Indian Ocean is no longer a peripheral theatre. It has become central to global energy flows, supply chains, and strategic competition involving the United States, China, and India.

As competition intensifies, enforcement actions, whether sanctions-related or security-driven, are increasingly likely to occur in or near neutral maritime zones. For smaller states, this creates the risk of being drawn into strategic narratives they did not author and confrontations they did not choose.

A system under increasing strain

The post-1945 international order has been under strain for years, weakened by unilateral interventions, selective treaty compliance, and the declining authority of multilateral institutions. What makes this episode particularly troubling is its extension into the maritime domain,one of the most rule-bound areas of global governance.

The law of the sea has endured precisely because states recognised that restraint served their long-term interests. When restraint yields to expediency, restoring trust becomes exceedingly difficult.

Conclusion: Law must restrain power at sea

The US seizure of a Russian oil tanker may yet be defended on narrow factual grounds, depending on the vessel’s registration and conduct. Even so, the broader implications remain unsettling. International law survives not because it is always enforced, but because states accept limits on how they pursue their interests.

When enforcement becomes unilateral rather than collective, power begins to reshape law rather than the reverse. For the international community, particularly small and medium-sized states, the lesson is clear. Preserving freedom of navigation and maritime legality is not about endorsing one power or condemning another. It is about defending a system in which law restrains power, and not power redefining law, on the world’s oceans.

(The author is a retired

ambassador.)

References

United Nations. United Nations Convention on the Law of the Sea. Montego Bay, 1982.

Lowe, Vaughan et al. The United Nations Convention on the Law of the Sea: A Commentary. Oxford: Oxford University Press.

Kraska, James. Maritime Power and the Law of the Sea. Oxford: Oxford University Press.

Byers, Michael. International Law and the Use of Force. Cambridge: Cambridge University Press.

Joyner, Daniel H. ‘Sanctions, International Law, and the Maritime Domain.’ Journal of International Law and Politics.

Two match officials from Sri Lanka will officiate in the ICC Under-19 Men’s Cricket World Cup that commences in Zimbabwe and Namibia from 15 January to 6 February.

Former Sri Lanka fast bowler Graeme Labrooy will be one of four Match Referees officiating during the tournament. Labrooy has so far officiated in 140 men’s white ball matches (ODIs and T20Is) and in 150 women’s ODIs and T20Is.

Former first-class cricketer Prageeth Rambukwella is among 17 umpires named in the panel for the World Cup. Rambukwella has officiated in 38 men’s international matches across formats and in 20 women’s ODIs and T20Is.

Sri Lanka must stay the course with the International Monetary Fund (IMF) program, invest decisively in tourism-related infrastructure, and cut regulatory red tape for foreign investors if it is to convert recent economic stabilisation into sustained and inclusive growth, speakers said yesterday at a policy discussion held alongside the launch of the report ‘Sustaining transformative growth in Sri Lanka, 2025-2030’ by the Centre for Poverty Analysis (CEPA) and ODI Global at the Sri Lanka Foundation Institute in Colombo.

ODI Visiting Senior Fellow and Independent Growth Study Group Convenor Dr. Ganeshan Wignaraja said the country had made significant progress since the 2022 debt default but warned that the recovery remained fragile without consistent reform implementation.

‘Tourism is booming and this momentum must be supported with targeted infrastructure-better transport links, upgraded airports, improved facilities in emerging destinations, and stronger safety and service standards,’ Dr. Wignaraja said.

He stressed that expanding tourism investment beyond Colombo to less-visited regions would generate jobs, spread incomes, and strengthen inclusive growth.

He also underscored the urgency of simplifying regulations and easing entry, operation, and exit for investors, cautioning that Sri Lanka risks missing out on regional supply chains and foreign direct investment (FDI) amid intensifying competition in Asia. ‘If approvals remain slow and rules unclear, capital and jobs will go elsewhere,’ he said.

The panel noted that the recovery effort is taking place against the backdrop of recent shocks such as Cyclone Ditwah, which has had a significant economic impact. Preliminary estimates indicate that the cyclone caused around $ 4.1 billion in direct damage, affecting nearly all districts that together generate approximately 82-84% of Sri Lanka’s GDP, with losses equivalent to about 4% of national output.

Despite these setbacks, speakers noted that Sri Lanka is midway through its IMF program, has rebuilt foreign exchange reserves, and has made substantial progress in recovering from the 2022 economic crisis.

The panellists stressed that the policy agenda outlined in ‘Sustaining transformative growth in Sri Lanka, 2025-2030’ is not merely about crisis management but about locking in stability and positioning the economy for resilient, future-oriented growth.

Former Central Bank of Sri Lanka (CBSL) Senior Deputy Governor Yvette Fernando emphasised that policy credibility and institutional discipline were critical to preserving hard-won stability.

She noted that adherence to the IMF-supported reform framework had helped tame inflation, rebuild reserves, and restore confidence but cautioned against complacency.

‘Macroeconomic stability must not be compromised. Losing credibility now would be extremely costly,’ she said.

ODI Global Principal Research Fellow and Director Dirk Willem te Velde said stabilisation alone would not deliver prosperity. ‘Sri Lanka now needs to move decisively towards export-led growth, deeper integration into global supply chains, and higher-quality FDI,’ he said, adding that implementation capacity would be the defining challenge.

The book, launched in English, Sinhala, and Tamil, outlines six priority policy pillars for 2025-2030, including maintaining macroeconomic stability, promoting exports and FDI, improving factor markets, supporting high-growth sectors such as tourism and the digital economy, strengthening poverty reduction, and building political consensus and State capacity.

The panellists agreed that policy consistency, tourism-led investment, and a more investor-friendly regulatory environment together offer the most realistic path to sustaining growth above 5%, reducing poverty, and avoiding a return to debt distress.