In this 2,500-word factsheet, we provide an overview of Syria’s economic and financial relations with Russia.

Data from Wikileaks have confirmed that the Central Bank of Syria has deposited significant amounts of its foreign assets in the Russian banking system.

Mohammad Jleilati, the Minister of Finance, has said that his government was finalising discussions with Russia to print money there, a move that signals a potentially growing economic dependency of the Syrian government towards Moscow.

The European Union imposed today new sanctions on Syria including a freeze of the assets of the Central Bank and a ban on cargo flights.

The Central Bank of Syria has opened bank accounts with three Russian financial institutions, according to press reports.