‘Relief` as US exempts S Lanka from Iran sanctions
Colombo: The Sri Lankan government has expressed "relief" over a US decision to exempt it from financial sanctions placed on countries that import oil from Iran, a top official said here on Wednesday.
Presidential Secretary Lalith Weeratunga expressed relief over the exemption given to Sri Lanka since around 90 percent of the country’s oil is imported from Iran with the remainder coming from Saudi Arabia and Oman.
The United States on Tuesday announced it would exempt seven emerging economies, including India, from tough new sanctions after they cut back on oil from Iran.
However, Weeratunga declined to answer questions on whether a decrease in global oil prices would result in a price reduction at home.
"We are not sure whether prices will remain low. Oil stocks that were previously bought at higher prices still need to be distributed so we are still discussing whether a price decrease will happen," he said.
More from India
More from World
More from Sports
More from Entertaiment
- Over 60 cadets killed in Pakistan police academy attack
- DNA: Exclusive report on the extreme sacrifices made by ITBP soldiers
- Watch: PM Narendra Modi's ''progressive'' remark on triple talaq
- DNA: Terrorists' new strategy of snatching weapons from Indian security personnel
- Panel discussion over delayed development in Ayodhya
- Explosion in Delhi's Naya Bazar, one killed; anti-terror wing, Special cell at spot
- This is why Cyrus Mistry was removed as Chairman of Tata Sons!
- WATCH: Akhilesh Yadav's emotional speech revealing the real reason behind Samajwadi Party crisis; he was about to cry
- Read letters by Ratan Tata to PM Narendra Modi and Group employees after Cyrus Mistry's ouster
- Prompt action on border pushes Pak to offer olive branch, says both sides need to 'formalise' 2003 ceasefire