Skip to content

News with true faith

Economy

Syria Agrees to Slash Purchases of Russian Oil

Syria has agreed to cut Russian oil purchases in talks with the US tied to lifting its terrorism sponsor status, Reuters reports.

Syria Agrees to Slash Purchases of Russian Oil

The United States has convinced Syria to sharply reduce its purchases of Russian oil, according to Reuters, which cited sources familiar with the negotiations.

The main condition for the cutback was the possibility of lifting a sanction that has weighed heavily on Syria's economy: its designation as a state sponsor of terrorism. Syria has held that status for the past several decades.

What the designation restricts

The designation bars Syria from buying military and dual-use goods abroad. It also blocks high-technology imports and allows secondary sanctions against companies from other countries that trade with Syria.

A tactic used before with India

US President Donald Trump previously used the threat of sanctions to persuade India to limit its purchases of Russian oil, aiming to cut Russia's revenue from energy exports. With Syria, Washington is also seeking to limit Russia's political and economic influence in the region. American negotiators proposed that Damascus buy more oil from the United States instead.

Related

Leave a comment

Your email address will not be published. Required fields are marked *