Syria’s Baniyas Port welcomed the arrival of a Saudi oil tanker carrying 90,000 tons of crude oil on Monday, as part of the Kingdom’s efforts to support Syrian economy, according to Reuters.
The tanker represents the first batch of 650,000 barrels of the Saudi grant to provide Syrians with local needs as the new government seeks to rebuild the country after the fall of Al-Assad regime.
The head of the Syrian Petroleum Company revealed that the second batch of 1 million barrels will arrive on November 23.
In September, the Saudi Fund for Development announced that it would grant Syria 1.65 million barrels of crude oil.
Since the overthrow of Bashar Al-Assad, Syria has been led by the new President Ahmed Al-Sharaa who has been attempting to warm Syria’s relations with international community after a brutal civil war that tore Syria apart.
Regional countries including Saudi Arabia have also been restoring ties with Damascus and intensifying their financial aid and reconstruction support for the new government.
Moreover, a staff mission from the International Monetary Fund visited Damascus this month to discuss with Syrian authorities the country’s economic reform priorities and assess its technical assistance requirements.
IMF spokeswoman Julie Kozack noted that the next step would feature further discussions to lay the groundwork for an ‘Article IV’ review of Syria’s economy—the first such assessment since 2009.
The talks focused on how the fund can continue to support the Syrian economy with policy advice particularly as Damascus rebuilds its central bank and other economic institutions.
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