Media: Iran to limit cheap oil supplies to Syria
Iran is restricting supplies of cheap oil to Syria and increasing the price for Damascus, RIA Novosti reports with reference to The Wall Street Journal that cites sources familiar with the situation
The publication explains that Tehran has also asked Damascus to pay for oil in advance, rejecting new requests for supplies on credit.
"According to the sources familiar with the situation, in recent weeks, Iranian officials have told their Syrian counterparts that they will now have to pay more for additional oil supplies amid the onset of peak winter demand, doubling the price to a market rate of more than $70 per barrel," the publication reads.
Hamid Hosseini, a representative of the Iranian Union of Oil, Gas and Petrochemical Exporters, is also cited. The official said that the country is ‘under pressure’ now and ‘there is no reason to sell to Syria at low prices’.
In December 2022, the Syrian authorities temporarily announced a four-day working week in state institutions due to fuel shortages caused by sanctions and a drop in the local currency.
