Arab Today, arab today iran russia china prop up syria economy
Last Updated : GMT 04:00:21
Arab Today, arab today
Arab Today, arab today

Iran, Russia, China prop up Syria economy

Arab Today, arab today

Arab Today, arab today Iran, Russia, China prop up Syria economy

Damascus - UPI

Iran, Russia and China are helping Syria lessen the sting of Western sanctions with $500 million a month in oil and vast credit lines, a Syrian official said. \"It\'s not that bad to have behind you the Russians, the Chinese and Iranians,\" Qadri Jamil, Syria\'s deputy prime minister for economic affairs, told The Financial Times. \"Those three countries are helping us politically, militarily -- and also economically.\" Russia and Iran have publicly acknowledged their support for the regime of President Bashar Assad, but China has been less open. Beijing had no immediate comment on the article. Ships \"under the flag of the Russians\" deliver oil and related products to Syria, Jamil said without giving details. \"We are waiting for someone to attack them,\" he said. Syria\'s coasts are still regime-controlled. Other support from the three countries includes an \"unlimited\" credit line with Iran for food and oil-product imports, Jamil said. Syrian Central Bank Governor Adeeb Mayaleh told Syrian state-owned newspaper Tishreen May 27 the credit line from Iran to finance imports and oil and gas purchases was up to $4 billion. Tehran is itself the subject of damaging Western sanctions, imposed to pressure Iran into ending its suspect nuclear program. Syria has also set up barter deals with Baghdad, Mayaleh told Tishreen. Iraq is also supplying Syria with oil and gas needs, a senior Syrian petroleum ministry official told The Wall Street Journal. Jamil acknowledged to the Times Syria\'s war-ravaged, sanctions-debilitated economic situation was \"complicated and very difficult.\" Since the outbreak of the Syrian civil war in March 2011, the economic sanctions have restricted trade with the United States, the European Union, 12 non-EU European countries, Canada, Australia and Japan. The sanctions and the instability brought on by the war have crumbled Syria\'s economy, collapsing its main money-earning industries of oil and tourism, economists say. The country\'s gross domestic product, which the World Bank estimated stood at almost $60 billion in 2010, shrank nearly 45 percent through 2012, economists and some Syrian regime officials estimate. Since the war started, the Syrian pound has lost 70 percent of its value against the U.S. dollar. The World Bank estimates inflation topped 50 percent last year, while independent Syrian newspaper Baladna estimated most goods have gone up an average 240 percent since March 2011. Minimum monthly wages, meanwhile, have largely stayed the same, ranging from the equivalent of $200 to $300 depending on the exchange rate. Despite the hardships, Damascus is getting around the sanctions somewhat by trading in Russian rubles, Iranian rials and Chinese renminbi, Jamil told the Times. He said it was a \"mistake\" for Syria to have traded in Western currencies previously. \"Now we have a straight line between the Syrian pound and those three currencies, and we have got out of the circle of euros and dollars,\" he said. Jamil said when a political resolution to the war is achieved, the Assad regime would seek compensation from the world powers that opposed it, just as Germany was required to give reparations to the Allied governments after World War II. \"If England feels like paying something, we don\'t mind,\" he said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran russia china prop up syria economy Arab Today, arab today iran russia china prop up syria economy

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday