Sri Lanka stops import of Iranian oil ahead of sanctions
Sri Lanka has stopped crude imports from Iran and is actively switching to other crude grades, as South Asian importers, including India, significantly restrict supply in anticipation of US sanctions against Tehran.
“We stopped as soon as the sanctions were announced. We didn’t buy [directly] from Iran. We buy from Singapore, Dubai, Fujairah,” Sri Lankan petroleum resources development minister Arjuna Ranatunga told reporters in Fujairah.
“We’re looking at signing government-to-government agreements over the next couple of months. We’re looking at long term agreements,” he added.
Sri Lanka, one of the smaller South Asian consumers of oil, was importing nearly all of its 50,000 barrels per day from Iran, which was then refined at the country’s sole refinery built to run on light cr...