Talks between the US and Sri Lanka on importing Iranian crude oil have been unsuccessful, according to a Sri Lankan official.
Petroleum Resources Minister Anura Priyadarshana Yapa said that several rounds of talks were held both in Colombo and in Washington, but no agreement was found and that the US informed Sri Lanka that it cannot import Iranian oil, in line with sanctions imposed on Teheran.
Non-compliance would mean that Sri Lankan banks would be cut off from the US financial system.
Before the sanctions were put in place, Sri Lanka imported around 93% of its oil from Iran.
Sri Lanka’s Iran oil sanctions exemption extended (30 Nov 2013)