The Syrian President has sacked Adib Mayaleh, the Minister of Economy, as part of a small government reshuffle, ending the political career of a long-time regime servant.
The list below includes the names of all the individuals that have been blacklisted by the European Union since the beginning of the Syrian uprising in March 2011.
The Minister of Economy, Adib Mayaleh, has provided new data for Syria’s foreign trade in 2016.
The Syrian government, which is largely isolated from western countries, continues to try to build economic ties with other countries, although, six years after the beginning of the uprising, the impact of these efforts is hardly successful.
The attempt by the Syrian government to lure back investors who fled the country is facing resistance from regime cronies, reflecting the obstacles that any serious reconstruction drive will face.
Preliminary data from the Syrian government suggest that the trade deficit decreased last year as imports fell by almost a third.
The Syrian Minister of Economy has said that western companies will not benefit from reconstruction contracts unless their governments apologised to the Syrian people.
Iran has granted a new credit facility to Syria, although its amount is well below the expectations of the Syrian authorities.
The deputy minister of foreign affairs of the Czech Republic visited Damascus last week in a rare visit by a high ranking European official since the beginning of the uprising.
Data from Wikileaks have confirmed that the Central Bank of Syria has deposited significant amounts of its foreign assets in the Russian banking system.
A Syrian pro-regime publication has claimed that a handful of traders control as much as 60 percent of all Syria’s import trade, a report that reflects the tensions existing between Syrian businessmen over the control of import trade.
The Syrian pound is continuing its downward spiral and lost in the last week some five percent of its value relative to the dollar as the Government admits that its foreign currency reserves are now very low.
The appointment of a new governor at the Central Bank of Syria has coincided with a new increase of the value of the US dollar in the Syrian foreign exchange market.
The following is a short profile of the members of the Syrian Government appointed on July 03, 2016.
The list of cabinet members appointed by Bashar Al-Assad on July 03, 2016.
Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.
The US dollar crossed this week the 600-pound level in the Syrian currency market, which is increasingly slipping out of the control of the Central Bank.
The continued decline of the Syrian pound is creating rising tensions in the market and pushing many Syrian traders to withhold selling their products.
The Syrian Pound is rapidly losing ground against the dollar and is likely to fall below the 500 mark in the coming days.
The dollar continued to climb and reach record levels in the Syrian foreign exchange market this week.
A Syrian oil industry investor and his company have been blacklisted by the U.S. Administration in a recent update to its sanctions list.
The Central Bank of Syria said it will adopt new measures to stem the decline in the value of the Pound, while the Government has rejected a proposal to pay salaries in dollars.
The U.S dollar climbed further in the Syrian foreign currency market this week in spite of attempts by the Central Bank of Syria to curb its rise.
The Syrian pound has continued its relentless decline as the dollar crossed the 360-pound level and the Euro climbed above 400 pounds this week.
The Syrian Pound has lost further ground to the dollar in the last week and is now trading at above 320 per dollar.
The dollar has edged past the 300 pound level again as the Central Bank of Syria has issued new one-thousand pound notes without the picture of Hafez Al-Assad.
Al-Baraka Bank Syria, an Islamic lender, opened on May 28 a branch in Tartous, the bank’s second in less than six months in the coastal area.
After a respite of ten days, the Syrian Pound lost some ground against the dollar to be traded at around 280 in Damascus.
The sale of large amounts of dollars by the Central Bank of Syria in the last week helped the Syrian Pound recover to around 250 per dollar from over 300 only ten days ago.
The dollar accelerated last week its gains against the Syrian pound, crossed the 300 pounds level, and is now traded at its highest level on record.
The Syrian Pound has lost further ground against the dollar last week and is likely to fall below 300 per dollar, its lowest level ever.
The dollar continued to rise in the Syrian currency market in the last week and closed at 280 pounds today.
The Syrian pound has lost again significant ground against the dollar in the last week as the Central Bank seems short of solutions to stop its decline.
The Syrian Pound continued its slow but steady decline against the dollar last week.
After a turbulent week, the Syrian Pound has managed to recover most of its losses against the US dollar.
The dollar has crossed the 200 pound level in the Syrian foreign currency market for the first time in months.
Adib Mayaleh, the governor of the Central Bank of Syria, who also answers to the French name of André Mayard, lost a bid to remove sanctions imposed on him by the European Union.
In the last two weeks, the value of the Syrian pound stabilized in the foreign currency market as the Central Bank of Syria continued to sell dollars.
The Syrian pound is continuing to lose ground against the dollar, in spite of significant interventions by the Central Bank in the Syrian currency market.
The US dollar climbed in the Syrian foreign exchange market last week as pressures mounted on the Syrian currency.
In spite of the intervention of the Central Bank of Syria, the dollar continued last week to gain ground against the Syrian Pound.
The Syrian authorities are closing the country’s foreign exchange companies as part of a clampdown on black market dealers.
Iran and Syria have signed a framework agreement for the transport of Iranian gas through Iraqi territory and onto Syria.
The composition of the credit and monetary council has been amended and new members appointed as the Central Bank of Syria faces numerous challenges.
The Syrian Pound is continuing to decline against most international currencies and was traded in Damascus at some 240 per dollar today.
Adib Mayaleh, the governor of the Central Bank of Syria, received kickbacks from an Austrian money-printer for the award of contracts, according to Vienna prosecutors.
The Syrian government is paying some USD 500 million every month to import oil products, the minister of petroleum and mineral resources said.
The total volume of concessionary loans provided by Iran to Syria amounts to USD 7 billion, according to the governor of the Central Bank of Syria, the first such admission by a senior government official.
The US Dollar has continued to climb in black market trading to reach levels not seen since the beginning of the popular uprising two years ago.