SL evades Iran sanction restrictions

by admin
Nov 24, 2012

Sri Lanka has agreed a deal with Iran that allows it to pay Tehran money for oil without breaking the US-led sanctions.

Over Rs 2 billion in unpaid bills will be used for an irrigation project which is funded by Iran.

Iranian president Mahmoud Ahmedinejad pledged $450 million to fund the scheme during his visit in 2008, but Iran has been unable to do so due to a lack of funds.

“Because of the US sanctions there is a delay in transferring funds from Iran to Sri Lanka but both governments have decided to use the money which is to be paid off for the fuel we bought from that country to go ahead with the project,” said Ivan de Silva, Secretary for the Irrigation and Water Resources Management Ministry to the Sunday Times.

Add new comment

About text formats

Plain text

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
  • Global and entity tokens are replaced with their values. Browse available tokens.

Restricted HTML

  • You can align images (data-align="center"), but also videos, blockquotes, and so on.
  • You can caption images (data-caption="Text"), but also videos, blockquotes, and so on.
  • Global and entity tokens are replaced with their values. Browse available tokens.
  • You can embed media items (using the <drupal-media> tag).

We need your support

Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.

Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view

We need your support in keeping our journalism going. Support our work today.

link button