Sri Lanka imports 92% of its crude oil needs from Iran but the officials of Sri Lanka announced they will stop buying crude oil from Iran in the next few days .
Government of Iraq offered them to increasing the amount of exporting oil to Sri Lanka if they stop importing oil from Iran , And the authorities of oil ministry of Sri Lanka decided to follow this offer as the recent sanctions from U.S. on Iran threaten Iran oil’s buyers .
According to the reports , most of the refineries in Sri Lanka can only refine light crude oil and only Iran and Saudi Arabia can produce this kind of oil . So the oil ministry of Sri Lanka also has negotiated with Saudi Arabia sides .
Also Sri Lanka is looking to increase their oil imports from Oman and Iraq .
