In a significant move to support Syria’s economic recovery, Saudi Arabia has announced a grant to supply the Syrian Arab Republic with 1.65 million barrels of crude oil. The initiative comes under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
The grant was formalized through a memorandum of understanding signed by Sultan Al-Marshad, CEO of the Saudi Fund for Development (SFD), and Syrian Minister of Energy Mohammed Al Bashir.
According to officials, the crude oil supply is intended to strengthen the operations of Syrian refineries, enhance their operational and financial sustainability, and support the growth of key economic sectors. The assistance also aims to address pressing economic challenges while contributing to Syria’s long-term sustainable development goals.
The move underscores Saudi Arabia’s ongoing commitment to improving the living standards of the Syrian people and highlights the strong ties between the two nations. It represents a broader effort by the Kingdom to foster regional stability and economic cooperation in line with its humanitarian and development-oriented policies.
By providing essential energy resources, Saudi Arabia aims to help Syria overcome its energy shortfalls and stimulate economic activity, offering crucial support during a period of recovery and rebuilding.
