SL seeks waiver on exports to Iran
Sri Lanka is likely to approach US authorities to lift sanctions on the country’s trade with Iran on tea and rubber exports.
Sri Lanka Tea Board Chairman Lucille Wijewardena told the Business Times on Friday that they had now approached the Foreign Ministry to carry out negotiations with the US authorities to allow for trade with Iran on tea and rubber.
He noted that the previously thought out barter system was not a viable option and that directly calling for the US to intervene by lifting the sanctions on tea and rubber exports could ease trade to Iran. The country’s tea and rubber exports are currently facing issues since no dollar transactions could be carried out with Iran since the US imposed sanctions.
The US granted 6-month waivers to eight countries that trade in oil with Iran like China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea on the understanding that they would reduce their purchase of Iranian oil over the period. The Iranian sanctions imposed in August 2018 are likely to continue throughout 2019.