Arab News
Arab news,
Sat, Sep 13, 2025 | Rabi al-Awwal 21, 1447
Saudi Arabia grants Syria 1.65m barrels of oil
Saudi Arabia:
Saudi Arabia has granted the Syrian Arab Republic
1.65 million barrels of crude oil under the directives of King Salman and Crown
Prince Mohammed bin Salman.
The donation was formalized through a memorandum
of understanding signed by Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi
Fund for Development, and Mohammed Al-Bashir, Syria’s Minister of Energy, the
Saudi Press Agency reported.
The signing ceremony was attended by Saudi
Ambassador to Syria Faisal Al-Majfel and Majid Al-Uteibi, deputy minister for
Oil and Gas Technical and Regulatory Affairs.
The move reflects Saudi Arabia’s commitment to
supporting the Syrian people and the strong ties between the two countries.
“The grant will contribute to enhancing the
operation of Syrian refineries and achieving operational and financial
sustainability, supporting economic development and addressing economic
challenges in Syria, ensuring the growth of vital sectors, and supporting
national and international efforts to achieve sustainable development goals,”
the SPA report said.
Furthermore, the donation aligns with and supports
broader national and international efforts aimed at achieving the UN Sustainable
Development Goals in the region.
Saudi Arabia is now leading a concerted effort to
bring Damascus back into the Arab fold after a decade of economic isolation, a
crippled currency, and shattered infrastructure.
Following the 2024 reopening of its embassy, Saudi
Arabia, alongside Qatar, settled Syria’s World Bank debt, unlocking access to
vital international funding.
This momentum continued with the recent
Syrian-Saudi Investment Forum, where Saudi Investment Minister Khalid Al-Falih
unveiled 47 agreements worth $6.4 billion, targeting key sectors of a modern
economy.
In addition to the oil grant, Saudi Arabia earlier
this week announced a new reconstruction project in Damascus to clear rubble and
aid rebuilding efforts, further strengthening ties with the Syrian authorities.
The King Salman Humanitarian Aid and Relief Centre
said it would provide an aid package to remove an estimated 75,000 cubic metres
of rubble from the capital and surrounding areas.
The aid will also support the rebuilding of 34
schools in Aleppo, Idlib, and Homs, the reconstruction of dozens of bakeries,
and the rehabilitation of sewage and water infrastructure in Damascus.