Tea against oil: Sri Lanka wants to clear debts to Iran This American company must save “Vice” from bankruptcy

The heavily indebted island nation of Sri Lanka wants to pay for oil imports from Iran with tea. From July, the claims of about $ 230 million must be settled against monthly tea deliveries, the ISNA news agency reported on Friday evening.

The deal was concluded two years ago, and it concerns oil deliveries from 2012. The island state south of India with about 22 million inhabitants is plagued by major financial concerns. The country ended up in the worst economic crisis in decades last year.

Sri Lanka has now reached agreement on a loan program with the International Monetary Fund (IMF) for about three billion dollars. The crisis continues.

Tea is the favorite drink of millions of Iranians. Tea export is one of the main sources of income for Sri Lanka.

Iran’s energy sector is subject to international sanctions over its controversial nuclear program. Despite the punitive measures, the Islamic Republic continued to expand its oil production in 2022, according to a report by the International Energy Organization (IAE). Crude oil production averaged 2.5 million barrels a day last year, but less than before the sanctions began. The main customer is China. (sda/dpa)