Latest economic and financial news about Syria, currency markets, and regional economy updates.
American energy major Chevron is negotiating with Iraq to revive an 800-kilometer oil pipeline running through Syria to the Mediterranean port of Banias, a route that would carry Iraqi crude to Europe while bypassing the disrupted Strait of Hormuz.
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Wheat reception centers in Al-Hasakah are approaching one million tons as the marketing season peaks, while a grain center in eastern Ar-Raqqa has taken in 31,000 tons and farmer payments begin flowing through the Agricultural Bank.
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Syria and Germany signed a final air transport agreement in Damascus on 16 July 2026, rebuilding the legal framework for direct flights after years of suspension. Three German carriers have applied to operate routes, timed to the lifting of a flight ban on 27 July.
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The Central Bank of Syria and US lender Citibank held a consultative workshop in Damascus in mid-July 2026 on correspondent banking and US dollar clearing mechanisms, focused on cross-border payments and settlement infrastructure.
Read More →Fuel stations across Syria began charging higher pump prices on 16 July 2026, with octane-90 petrol rising to 14,000 Syrian pounds a liter and diesel to 12,000, increases of about 12 percent. Cooking and industrial gas cylinders were left unchanged.
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A Gulf real estate group has outlined a $20 billion plan to build housing, resorts, and public facilities in Damascus and Latakia, with construction slated to begin within months under a company jointly owned by the state and private investors.
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The Agriculture Ministry signed a memorandum on 15 July 2026 with a private investor to supply two million seedlings and plant 15 million olive and pistachio trees over eight years, alongside free saplings and a farmer training center.
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Syrian and Lebanese chambers of commerce signed a cooperation memorandum in Damascus on 15 July 2026 as the two economy ministers met and President al-Sharaa received the Lebanese delegation.
Read More →Washington supports rebuilding the crude oil pipeline linking Iraq and Syria to the Banias port, a route meant to bypass the Strait of Hormuz, with a US-Qatari consortium studying feasibility.
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