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#BREAKING - #Iran, #SriLanka sign tea for oil payment deal. Sri Lanka owes $251 million for National Iranian Oil Company for crude import before US #Sanctions. Now both countries sign MOU to settle it by means of utilizing $251 mln to facilitate the export of Ceylon Tea
Facing both economic crisis and dollar shortage, Sri Lanka's deal with Iran is expected to help ease its pressure on the looming balance-of-payment crisis.
#SriLanka says: "This scheme will not violate any UN or US sanctions since tea has been categorized as a food item under humanitarian grounds while none of the black listed Iranian Banks will be involved in the equation."
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