Iran agrees to accept Sri Lankan tea in payment for $251m debt

[المستشار الصحفى]

الصحف المصرية والعربية

In a first-of-its-kind barter deal, Iran has agreed to accept payment from Sri Lanka in the form of Ceylon tea to clear a debt for part oil exports worth $251 million. On Wednesday, Sri Lanka's Plantations Minister Ramesh Pathirana told Reuters he aimed to start sending tea to Iran from January. "We hope to send $5 million worth of tea each month to repay Iran for oil purchases pending since the last four years," he said. He stressed that the arrangement will not violate US-led sanctions imposed on Iran, as tea which falls under food items, are exempt and that no black-listed Iranian banks would be involved. The agreement signed by Pathirana and the head of Iran's Trade Promotion Organization, […]

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