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Iraq Offers Crude Oil to Sri Lanka to Offset Sanctions: Report

  • Sri Lanka, which imports nearly 93 percent of its oil from Iran, plans to purchase crude requirements from Iraq to offset the negative effects of US sanctions against Tehran over its nuclear programme, a media report said on Sunday.Colombo would stop ordering crude from Iran on March 29 ahead of the June 28 deadline for sanctions against Iran over its nuclear programme, 'Sunday Times' quoted petroleum ministry officials as saying.

  • War-torn Iraq is offering to supply substantial quantities of fuel to Sri Lanka as the noose tightens on continued flows from Iran, the newspaper said.Any country importing goods from Iran after June 28 deadline would be subject to US sanctions.Sri Lanka early this month had said they were looking at alternative buying sources such as Saudi Arabia, Oman and Iraq in view of the sanctions.Sri Lanka's only refinery at Sapugaskanda could deal only with Iranian and Saudi light crude. Petroleum Minister Susil Premajayantha was not available for comment as he was overseas.

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