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ECONOMYNEXT – Iran, which remains to be grappling with a 2012 financial sanction imposed by the USA is exploring new ventures and commerce and funding in Sri Lanka, the island nation which remains to be recovering from an unprecedented financial disaster.
Iranian International Minister Amir Abdullahian met prime Sri Lankan authorities officers together with President Ranil Wickremesinghe, Prime Minister Dinesh Gunawardena, and his counterpart Ali Sabri on Tuesday (20).
Sri Lanka is unable to pay for Iran funding and imports because of the US sanctions, however it has efficiently began paying for the dues in crude imports earlier than 2012 by way of a “tea for oil” deal.
Iranian International Minister comes after an official go to from Sri Lanka International Minister Ali Sabri when he went to Tehran in August final yr.
His go to additionally comes forward of Iran President Ebrahim Raisi’s official go to later this yr, authorities officers mentioned.
“The go to of his excellency (Iran International Minister) into Sri Lanka is important and can additional improve the shut and cordial bilateral relationship,” Sabry mentioned after his Iranian counterpart met all prime Sri Lankan political dignitaries.
“There’s a large potential for additional company in multi-faceted areas. Throughout our dialogue at present, we addressed key areas of mutual of pursuits. Together with political, financial, and cultural company, reflecting very stable bilateral relations.”
Authorities officers mentioned Iran President is more likely to go to when Sri Lanka sees the commissioning of Uma Oya 120 MW energy era mission this yr.
“Sri Lanka and Iran stand united in our pursuit of peace, safety, and prosperity in our areas,” Sabry added.
Earlier than the 2012 US sanctions, Sri Lanka closely trusted Iranian mild crude to its solely refinery constructed by Iran in 1969. The island nation is now paying $250 million due for crude imports by way of tea exports.
The Iranian International Minister through the assembly with Prime Minister Gunawardena famous that Iran is eager to cooperate with Sri Lanka in future tasks using their experience in power, water, agriculture, nanotechnology, medication and biotechnology.
“Iran has additionally agreed to offer one other 31 million euro grant for the agricultural electrification mission,” Prime Minister’s workplace mentioned in an announcement.
“The Prime Minister and the Iranian Minister agreed that commerce needs to be finished in Asian currencies as a substitute of US {dollars}. Minister Amir-Abdullahian mentioned that banking preparations have already been made to commerce with Iran, India and China and related preparations could be made with Sri Lanka.”
“The Prime Minister expressed his appreciation for Iran’s continued assist to Sri Lanka on the United Nations Human Rights Council and different worldwide boards.” (Colombo/Feb 20/2024)
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