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  • 23-12-21

    Iran, Sri Lanka sign USD251m crude import agreement

    (MENAFN) A memorandum of understanding (MOU) was inked between Iran and Sri Lanka founded on which Sri Lanka is going to settle USD251 million in crude import payments allocated to Iran by exchanging tea.

    According to TPO portal, the deal was signed by Head of Iran’s Trade Promotion Organization (TPO) Alireza Peyman Pak as well as Sri Lanka Minister of Plantation Ramesh Pathirana in Colombo on Tuesday.

    Declaring the completion of a contract for the publication of Iran's late claim in Sri Lanka, TPO head stated, “Nine years ago, about $250 million of Iranian oil exports to Sri Lanka was blocked and the possibility of payment did not exist. Fortunately, in the recent negotiations, we reached an agreement to return this money and its profit to Iran in the form of goods such as tea.”

    The official emphasized, “during the Iranian delegation's visit to Sri Lanka, fortunately, very good talks were held with representatives of the government and the private sector, and the two sides stressed the need to expand economic cooperation. During this meeting, we met with minister of plantation, officials of Trade Development Council, and head of Chamber of Commerce of Sri Lanka, and the outcome of all negotiations will be positive.”

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