Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka seeks waiver for Iranian oil imports
Sun, Oct 21, 2018, 08:55 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 21, Colombo: Sri Lanka, which is dependent on Iranian light crude, has sought advice from India over its strategy on purchasing oil from the country in the light of tightening US sanctions during bilateral talks, according to a Mehr News Agency report.

According to a statement published by the office of Sri Lanka's Prime Minister Ranil Wickremesinghe, the country's Petroleum Minister Arjuna Ranatunga has sought information on how India will act in the case of tighter sanctions from Indian External Affairs Minister Sushma Swaraj, MNA said quoting an Economynext report.

The US has unilaterally withdrawn from the 2015 nuclear deal with Iran and is set to re-impose the second wave of fresh sanctions on the Islamic Republic on Nov. 5.

Swaraj had explained India's strategy on India and has said Sri Lanka could also follow the process and promised further information.

India along with Sri Lanka is part of a the Asian Clearing Union, a kind of net settlement system set up by a group of countries with central banks with inconsistent policy that operates failing soft-pegs with the US dollar and therefore have persistent foreign exchange shortages.

Sri Lanka's ageing state-run refinery, originally built by the Soviet Union, works best with Iranian light crude, with other heavier crudes not generating enough light distillates.

 

ColomboPage - Recent 10 Stories ::
UNP to hold a massive rally tomorrow at Lipton Circus
President will take next steps constitutionally - Cabinet spokesman
India encourages Sri Lanka apparel industry to source material from Indian textile producers
Sri Lanka cricket star Tillakaratne Dilshan joins SLPP
Excavations of the Mannar mass grave temporarily suspended
Speaker to inform the decision of the no confidence motion to the President
Dipped Products posts Rs. 553 million PBT in 1H 2018/19
Sri Lanka Central Bank warns public to be attentive of financial scams, phishing emails
Crossed-overs return to UNP, plan to resign from ministerial posts given by President
No-confidence motion against Sri Lanka's PM Mahinda Rajapaksa passed in parliament, government has no majority

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.