U.S. official in Sri Lanka to discuss Iran oil sanctions

Feb 03, Colombo: Luke Bronin, Deputy Assistant Secretary of the United States Department of the Treasury arrived in Sri Lanka Thursday with a four-member delegation.

The Deputy Assistant Secretary is in the island to hold discussions with Sri Lankan government officials on how the U.S. sanctions imposed on Iran will affect Sri Lanka and the available options regarding the sanctions.

The U.S. official has met with the Sri Lanka’s Minister of Industry and Commerce of Sri Lanka Rishad Bathiyutheen at the Ministry today and briefed the Minister on the U.S. sanctions on Iran, the national news agency Lankapuvath said.

The Minister has enlightened the visiting official on the post-war economic progress Sri Lanka has achieved after the 30 years of war ended in May 2009.

Both Minister Bathiyutheen and Deputy Assistant Treasury Secretary Bronin have discussed the need for increased collaborative efforts in trade engagements between the two countries.

Deputy Assistant Treasury Secretary has also met with senior government officials to learn about the financial institutions in the country.

The U.S. sanctions on Iran will severely affect Sri Lanka as the island nation depends almost entirely on Iran for its crude oil supplies.

Sri Lanka imports 93 percent of its crude oil requirement from Iran and the country’s only refinery at Sapugaskanda that processes 50,000 barrels per day can only process Iranian crude.

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