Security

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.  

Binance Holding Limited has been fined USD 4.3 billion for breaching U.S. sanctions in jurisdictions, including Syria. This is one of the largest corporate penalties in U.S. history.

The Ministry of Defence has announced two new types of contracts for citizens to voluntarily enlist in the Syrian army with a base salary of SYP 1,300,000, equivalent to around seven times the base salary of a civil servant.

The four Treasury bond auctions held in 2023 by the Ministry of Finance have amassed less than half of their target, reflecting the difficulties the government faces to attract funding. 

The Syrian government is negotiating to extend the contract it has with French shipping giant CMA CGM over the management of the port of Lattakia’s container terminal. The Ministry of Transport has established a committee to negotiate with the French company but that does not necessarily mean that the contract with LICT will be eventually extended.

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.