Sri Lanka, on Wednesday (Feb 21) said that it exported $20 million worth of tea to Iran to partially pay its $251 million oil debt. The first instalment of the tea-for-oil deal was sent years after it was agreed upon in 2021.

Sri Lanka repays $20m Iranian oil debt with tea

Sri Lanka would send tea to Iran to settle a debt for past oil imports, with the South Asian country turning to the commodity as a payment option in the face of diminishing foreign reserves and sanctions on Iran.

'Tea-for-oil': Sri Lanka plans to use tea to repay Iran for a $251 million oil debt

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