2024-02-29 08:31:51
Sri Lanka partially repaid the debt of $251 million for oil supplied by Iran by exporting $20 million worth of tea to the country. This was reported in the office of the Prime Minister of Sri Lanka Dinesh Gunawardena, Day.Az reports with reference to Izvestia.
“So far, $20 million worth of tea has been exported to Iran under a barter trade agreement,” SCMP reported.
It is clarified that the deal was agreed upon in December 2021, but was delayed due to the economic crisis in Sri Lanka, as a result of which the country’s former President Gotabaya Rajapaksa resigned in July 2022.
Iranian Foreign Minister Hossein Amir Abdollahian also expressed satisfaction with the exchange. As stated in the material, this agreement allows Iran, which is under sanctions, to save foreign currency that would have to be spent on importing tea.
As the authorities of the island state emphasized, the supply of tea to Iran does not contradict the restrictions imposed by the United States, since the product is a food product, and the transaction itself took place without the participation of sanctioned banks.
A reverse deal occurred with the participation of Venezuela, which sold oil in 2021 for food and to pay off debts. Also, the country’s President Nicolas Maduro previously offered to buy coronavirus vaccines for oil, Reuters wrote.