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Monday, August 6, 2012

''Moscow Signs Oil Deal With Syria, Sends Ships''

From Moscow Times

''Syria has reached an agreement with ally Russia to secure much-needed fuel, as a delegation sent by President Bashar Assad asked Moscow to help alleviate the effects of sanctions on the war-torn country.

The trip was a rare foreign visit by high-level Syrian officials, whose circles of support are shrinking as violence mounts between rebel fighters and forces loyal to Assad, who the West and Arab countries say must leave power.

Under the deal, Syria will export its crude oil to Russia in exchange for refined oil products, which Damascus sorely needs to keep its economy and military running.

"Russia wants to help the Syrian people," Syrian Deputy Prime Minister for Economic Affairs Qadri Jamil told reporters in Moscow on Friday.

"We will deliver our oil and receive gasoline and fuel oil. It will be a barter," he said, adding that Syria is producing about 200,000 barrels per day.''

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