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Bibeksheel Sajha Party Chairman Rabindra Mishra resigned from his post on Wednesday.

Issuing a statement this afternoon, Mishra said that he decided to resign from the post of chairman after party's disappointing results in the recently held local level elections.

"I will take the responsibility for the party's disappointing results," he said in the statement.

Mishra said that he would only remain as a member of the party.

The party emerged victorious only in Pheta Rural Municipality of Bara in the local level elections held on May 13.

Sri Lanka has decided to seek fresh assistance of $500 million from India to augment its fuel imports, as the island reels under a crippling economic crisis manifesting in persisting shortages of essentials, The Hindu reported.

For weeks now, citizens are spending long hours lining up outside fuel stations — at times all day or night — to pump petrol or diesel, currently in short supply, as crisis-hit Sri Lanka runs out of dollars to pay for imports.

Public transport has been stalled due to the unavailability of fuel, businesses have been hit, and schools were forced to remain closed as students are unable to commute. Over the last few days, Sri Lankan social media saw many accounts of families being unable to access emergency medical care due to the lack of fuel. The government has asked “non-essential” staff to work from home, to save on fuel consumption.

“The Cabinet of Ministers granted approval for the proposal submitted by the Minister of Electricity and Energy to obtain a series of short-term loan facilities worth another $500 million with the assistance of the export–import bank of the Indian government in order to purchase petroleum products required by the country settling the foreign exchange shortage existing at the moment,” the government said in a statement following the Cabinet meeting on Monday. 

Fuel prices saw a record hike on Tuesday as diesel, earlier sold for LKR 289 ($0.80) a litre, now costs LKR 400, reflecting a 38 % jump. Petrol prices rose from 338 to 420 Sri Lankan rupees, threatening to further increase costs of all essential commodities whose prices are already skyrocketing, according to The Hindu.

For several months now, Sri Lanka has been amidst an unprecedented economic downturn, sparking street protests by citizens across the country. A group of demonstrators are camping outside the Presidential Secretariat in Colombo for 46 days in a row, demanding that President Gotabaya Rajapaksa, who they hold chiefly responsible, quit office. 

Amid a heightening crisis, the government announced last month that it would pre-emptively default on the country’s foreign debt totalling $51 billion as the “last resort”, and is currently negotiating a package with the International Monetary Fund. However, Central Bank Governor Nandalal Weerasinghe on Monday noted that it was difficult to give a timeline of Sri Lanka’s economic recovery that, he said, was contingent on the success of the measures taken by the government. 

Much of Colombo’s initiatives so far have been about tapping external help from bilateral partners and multilateral lenders. India has already extended credit lines worth $700 million so far for fuel imports —as part of the total $3.5 billion assistance extended so far since January — and delivered over 5 lakh MT of fuel, including the latest shipment of 40,000 tonnes of petrol that reached Colombo on Monday. Meanwhile, the government is also considering various options to expand Sri Lanka’s domestic energy sector, including with foreign investment. Minister of Power and Energy Kanchana Wijesekera on Tuesday announced plans to advertise plots for studies on oil exploration in the Mannar Basin, where Cairn India was earlier involved in exploration, The Hindu reported.

Vladimir Putin is "weaponising Ukraine's crops" as "a blackmail tool" for the rest of the world, Poland's prime minister said at the World Economic Forum in Davos, BBC reported.

Mateusz Morawiecki told the BBC it was like what "Stalin did in 1933".

In a wide-ranging interview, he also warned that "only Putin" would be "happy" with a UK-EU trade war over the Brexit deal for Northern Ireland.

Ukraine's inability to export its grain has led to global food prices soaring.

It has also raised the prospect of famines in the countries which depend on its exports.

Mr Morawiecki said that this was "part of [Mr Putin's] strategy" in order to "create ripple effects in Northern Africa and huge migration waves".

His warning was echoed by the European Commission President, Ursula von der Leyen, who told delegates in Davos that Russia was using "hunger and grain to wield power".

"Global co-operation is the antidote to Russia's blackmail," she said.

Fears are rising that the Black Sea blockade is causing a global food crisis.

On Monday, Ukraine's deputy Prime Minister urged the international community to create a "safe passage" to enable the millions of tons of grain stuck in Ukraine to leave the country.

Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine, told the BBC that some sort of "corridor" was needed.

A UK government spokesperson said the country was working "intensively" with partners to find ways to allow grain exports to resume.

However, there are "no current plans" for Royal Navy warships to help break Russia's blockade, the spokesperson added.

Satellite images taken by Maxar Technologies have emerged purportedly showing grain shipments being moved to a Russian ship at the port of Sevastopol, Crimea.

The BBC has not been able to independently verify the pictures.

North Korea has fired three ballistic missiles early Wednesday morning, South Korea's military has said, BBC reported.

Authorities in Seoul said the missiles were fired in the space of less than an hour from the Sunan area in Pyongyang.

It comes just a day after US President Joe Biden left the region, following a trip that saw him vowing to bolster measures to deter North Korea. 

North Korea has been test-firing a flurry of ballistic missiles since the beginning of this year.

Japan confirmed at least two launches happened on Wednesday but acknowledged there may have been more. 

Japan's Defense Minister Nobuo Kishi said first missile flew about 300km (186 mi) with a maximum altitude of around 550 km, while the second, reaching as high as 50 km, travelled around 750 km, according to BBC.

Mr Kishi criticised the launches, saying they were "not acceptable" adding that it would "threaten the peace, stability and safety of Japan and the international community". 

In a meeting convened after the missile launch, South Korea's National Security Council called the test a "grave provocation", the presidential office said. 

The launches came hours after US President Joe Biden departed for the US on Tuesday evening, after a five-day trip that saw him visiting South Korea and Japan. 

US and South Korean officials had earlier warned that North Korea appeared ready for another weapons test, possibly during Biden's visit.

During his visit to Seoul over the weekend, Mr Biden and his South Korean counterpart Yoon Suk-yeol agreed to hold bigger military drills and deploy more US strategic assets if necessary to deter North Korea's intensifying weapons tests, according to BBC.

Mr Biden had said the United States was "prepared for anything North Korea does."