The ways of oil debt payoff have been clarified and the issue would be discussed in talks with the Sri Lankan party, hoping to reach a result.

The government also hopes to restore crude oil imports from Iran as it was regarded as a key name in oil supply for Sri Lanka as the country’s oil refinery was built for processing Iranian crude.

Minister of Petroleum Resources Development Chandima Weerakkody has expressed the belief that Colombo will resume oil and gas purchases from Iran.

Sri Lanka will soon enter into an agreement for Iran’s crude exports and Iran’s oil sales to Sri Lanka would resume as it used to export 40,000 barrels per day of oil to the country, 93% of its oil needs, prior to sanctions.