Sri Lanka settles Iranian oil debt with tea exports ...Iraq

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Sri Lanka settles Iranian oil debt with tea exports
Shafaq News / Sri Lanka, grappling with foreign currency shortages, announced on Wednesday that it exported $20 million worth of tea to Iran to partially settle its $251 million oil debt, a deal earning approval from Iran's Foreign Minister. Sri Lankan Prime Minister Dinesh Gunawardena stated, "Tea worth $20 million has been exported to Iran under the commercial barter agreement," as reported by AFP and cited by Al-Arabia Business.The tea-for-oil deal was agreed upon in December 2021 but faced delays due to economic crises in Colombo, leading then-President Gotabaya Rajapaksa to resign in July 2022. The barter agreement allows Iran, under Western sanctions, to avoid using hard currency for t

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