+1 (216) 269 3272 Pierre@profilenewsohio.com

Iran ready to supply wheat to Lebanon, says presidency

by Mar 26, 2022Arab News

Iran is ready to supply wheat to cash-strapped Lebanon, the Lebanese presidency has said, days after bakers told The National that supplies were dwindling and there were no fresh imports coming.

President Michel Aoun tweeted that Iranian Foreign Minister Hossein Amirabdollahian had assured him after their meeting in Beirut that Iran was ready to support Lebanon in all fields, “most notably in the provision of wheat”.

Lebanon’s wheat importers have not placed any new orders on the global market since Russia invaded Ukraine, a major wheat grower, a month ago and prices rose significantly.

The country relied on Ukraine for about 96 per cent of its wheat imports and with countries around the world rushing to secure new supplies, importers said there was little appetite in selling to impoverished Lebanon. There were industry reports that issues at the central bank were also slowing down payments, making it harder to strike agreements.

Although the Lebanese pound is officially pegged at 1,507 against the US dollar, the country’s financial crisis has seen banks limit withdrawals and international payments and a black market has emerged, selling dollars at more than 20,000 pounds.

Bakers said that wheat importers were already rationing supplies to supermarkets amid widespread panic-buying.

Iran has close ties to Lebanon, most notably through its support for Hezbollah, the political party and militia.

The country’s financial crisis has caused savings to evaporate, pushed the price of staples out of reach and forced half of its people into poverty.

Test post

Israel's interior ministry says it has deported a Palestinian-French human rights lawyer after accusing him of security threats. Salah Hamouri, 37, was escorted onto a flight to France by police early on Sunday morning, the ministry said. A lifelong resident of...

Our Businesses

Businesses We Endorse

Submit your event

We will be happy to share your events. Please email us the details and pictures at publish@profilenewsohio.com 


P.O. Box: 311001 Independance, Ohio, 44131

Call Us

+1 (216) 269 3272

Email Us