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Iran sanction won't create oil shortage: Sri
Lanka
Wednesday January 18, 2012 09:09:53 PM,
IANS
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Colombo: Sri Lanka
Wednesday said it will not face oil shortage due to the US
sanctions on Iran's fuel imports.
Petroleum Minister Susil Premajayantha told reporters that the
government has already begun hoarding oil and discussions with
Oman and Saudi Arabia are on for supplies.
Iran is Sri Lanka's largest oil supplier. It spends about $4
billion on oil imports annually.
Iran and Sri Lanka have had close diplomatic ties since President
Mahinda Rajapaksa took office. The US sanctions could mean the
country will have to consider alternatives.
Premajayantha said that the six-month grace period before
implementation of the new sanctions would provide enough leeway
for the government to find a solution, Xinhua reported.
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