Russia’s Lifeline to Syria: The Secret Currency Shipments Keeping an Economy Afloat
In a striking display of strengthening ties, Syria recently received a fresh batch of its local currency printed in Russia, highlighting the deepening relationship between the two nations. The new shipment, which arrived via plane at Damascus airport on Wednesday, was swiftly transported to the central bank under heavy security, marking the second delivery since the ousting of former President Bashar al-Assad in December. This ongoing monetary partnership dates back to Syria’s civil war, when European sanctions cut off Damascus’s previous contract with an Austrian subsidiary, pushing Syria to strike a multi-million dollar deal with Moscow to produce its banknotes. The significance of these shipments cannot be overstated, as they serve as a crucial lifeline to Syria’s battered economy. The economic situation in Syria has worsened in recent months, with the country grappling with a severe cash shortage. Syrian officials have attributed this crisis partly to delays in Ru...