Oil

The Syrian delegation at the COP28 in Dubai has blamed international sanctions, opposition groups, the U.S., Turkey, and Israel for aggravating the climate crisis in Syria, while deflecting any governmental responsibility in Syria’s climate emergency. At the annual Conference of Parties, private entities and governments tend to make pledges to help developing countries face the climate crisis, but so far,  Damascus' search for international climate finance seems to have fallen flat this year.  

On November 26, the Russian delegation visited the Suweida Chamber of Commerce and Industry and signed an MoU to barter Syrian local agricultural products like olive oil, apples, and grapes molasses, for Russian agricultural inputs such as fertilizers, pesticides, and machinery.

Recent reports indicate that the Katerji brothers, possibly the most influential business figures to have emerged during the Syrian conflict, are facing increasing pressure from the Syrian authorities.

On the eve of the Syrian conflict, half a dozen Western oil companies were active in Syria. Among these, Royal Dutch Shell and Total E&P, were the major players. However, the country’s descent into chaos and the subsequent imposition of Western sanctions on the oil sector led to the freezing of their activities. By the end of 2012, all Western companies had suspended their operations in Syria, declaring force majeure and freezing their assets.

The Syrian Trade Establishment has announced profits worth SYP 33 billion in the first ten months of 2023, triggering criticism among Syrians grappling with rising prices of essential goods.

The local council of Jarabulus has introduced a USD 200 fee for Syrians living in Turkey who want to enter Syria - for a period of up to 30 days - through the Jarabulus crossing in northern Aleppo.