Assad seeks Russian investment as US sanctions hammer economy
Deputy Prime Minister Yuri Borisov says Moscow ‘wants to help Syrian regime break US blockade’
Syrian leader Bashar Assad said on Monday he wanted to expand business ties with Russia to help his country cope with new US sanctions on its already crippled economy that threaten to undermine military gains Damascus achieved with Moscow’s help.
Assad spoke during a meeting in Damascus with Russian Deputy Prime Minister Yuri Borisov and Foreign Minister Sergei Lavrov. Lavrov told a news conference Syria needed international help to rebuild its economy.
Borisov said Russia was helping
Syria to fix its power plants but said oil output could not resume as the fields were in areas outside government control.
Syria and Russia, whose military support since 2015 helped Damascus reverse gains by militants in an almost decade-long war, had said the two sides planned to boost trade ties and would review energy, mining and power projects. The regime “was determined to continue to work with Russian allies to implement signed agreements and to ensure the success of Russian investments in Syria,” Assad said. Borisov said Moscow had presented proposals in July to expand economic ties and expected an agreement would be sealed in December on his next visit to Damascus.
He said Moscow wanted to help Damascus break the blockade of US sanctions.
Syria has pinned hopes on Russia while Western diplomats say Russia’s military involvement in Syria has secured Moscow major regional influence.
“Russia turned the tide for Assad and with the regime now facing its gravest challenges, Moscow is in a better position than any other time to further squeeze Assad,” said one Western diplomat who follows Syria.