Russia to Increase Economic Influence in Syria Through Commercial Logistics Hub at Syrian Port

A general view of the Russian Navy facility in Syria's coastal Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
A general view of the Russian Navy facility in Syria's coastal Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
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Russia to Increase Economic Influence in Syria Through Commercial Logistics Hub at Syrian Port

A general view of the Russian Navy facility in Syria's coastal Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
A general view of the Russian Navy facility in Syria's coastal Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo

Moscow is moving to consolidate its economic influence in Syria by establishing a commercial logistics hub in the port of Tartous, a move that reflects a shift in its strategy from military presence to expanded economic weight.

The Russian move coincides with discussions over the future of Moscow’s military bases at Tartous and Hmeimim, as Washington plans to renew contracts and investments in the country.

According to Reuters, Russia hopes by mid-July to have the commercial logistics hub up and running in one of two berths at the naval base it leases in the Tartous port, while keeping a military presence at the other.

The hub will handle a wide range of Russian goods including wheat and grains, and target initial cargo volumes of about 250,000 tons per month while operations were expected to begin with a 30,000-ton grain shipment.

“The project is central to Russian efforts to maintain and expand its influence in Syria through economic channels, after the overthrow of former president Bashar al-Assad in 2024 deprived Moscow of its staunchest ally in the Middle East,” Syrian officials told Reuters on Thursday.

But much more than business is at stake, with a battle for influence under way as Washington seeks ways to ensure not only that Syria awards contracts to US companies but also curbs Moscow's military presence.

The officials said Moscow and Syria are now negotiating over the future of Russia's bases at Tartous and Hmeimim.

In 2025, Syria's new government cancelled a 49-year contract granting Russian company Stroytransgaz the right to develop commercial facilities at Tartous. The United Arab Emirates' DP World secured an $800 million, 30-year concession agreement to redevelop and operate the port.

But on June 6, the Russian-Syrian Business Council, a body operating under Russia's Ministry of Industry and Trade, announced plans to establish an “assembly and distribution center for Russian goods” at Tartous.

Ossama Ajaj, general manager of Rus Line and adviser to the Russian-Syrian Business Council, said the hub will initially handle Russian wheat, grains, animal feed, vegetable oils, timber, steel, clinker, coal, rice, sugar and mineral oils.

He said the hub will operate from Pier No. 4 at Tartous port, in what he called a “restricted zone” of the naval base. The other berth remains dedicated to Russian naval operations.

The project aims to establish a regular maritime route between Russia's Black Sea port of Novorossiysk and Tartous, from where goods will be distributed across Syria and neighboring countries.

Ajaj identified Iraq and Jordan as the primary target markets, followed by Saudi Arabia, Kuwait, Qatar and Bahrain. He added that the project will be run by Syria's General Authority for Ports and Customs.

Ajaj told Reuters cargo volumes of about 250,000 tons per month ⁠were being targeted initially and operations were expected to begin in mid-July with a 30,000-ton grain shipment.
He suggested Russia would maintain a “reduced military presence.”

Ajaj and two officials from Syria's foreign ministry said the project was outlined at a January 28 meeting in Moscow between Syrian President Ahmed al-Sharaa and Russian President Vladimir Putin. The officials called the meeting a turning point in efforts to revive economic cooperation.

Foreign Ministry spokeswoman Maria Zakharova said in June that Moscow and Damascus were discussing a possible “reformatting” of Russia's military facilities in Syria and that cooperation between the two countries was developing actively.

The commercial logistics hub is set to increase Moscow's already significant economic role in Syria. Some 85% of Syria's imported wheat — 2.9 million tons for the 2025-26 ⁠season — comes from Russia and Russian-occupied Crimea, a Syrian customs document showed.

Reuters has also reported that Syria's reliance on Russian crude oil imports has increased since Assad's fall. It received about 16.8 million barrels of Russian oil in 2025 and an estimated 60,000 barrels per day in the first months of 2026.

The project could help Russia maintain influence regardless of the eventual shape of its military presence, said Nanar Hawach, a senior Syria adviser at International Crisis Group.

“Russia's hold on Syria rests on what it supplies and maintains, and on its (United Nations) Security Council vote, which gives it influence that ⁠outlasts any drawdown of troops,” he said.

“A logistics role reinforces that by keeping Russia physically present at the port, strengthening its hand while the future of the base is being decide,” he noted.

The US is meanwhile watching closely.

Congressman Joe Wilson last month secured an amendment to the Pentagon budget directing it to assess options for reducing Russia's influence in Syria and securing the departure of its forces from Tartous and Hmeimim.

“We closely monitor Russian-backed commercial and logistics projects in Syria and are concerned that such initiatives may not contribute to stability in the country,” a US State Department official said in response to Reuters questions.

The official said the US was encouraging Syria to engage “trusted corporate partners – especially US firms” during the country's recovery and reconstruction after its civil war, while urging Damascus to respect US sanctions on Russia.



Lebanon is Handing over an Assad-era General after War Crimes Questioning

(FILES) Syria's President Bashar al-Assad speaks during a press conference with Iraq's Prime Minister in Damascus on July 16, 2023. (Photo by LOUAI BESHARA / AFP)
(FILES) Syria's President Bashar al-Assad speaks during a press conference with Iraq's Prime Minister in Damascus on July 16, 2023. (Photo by LOUAI BESHARA / AFP)
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Lebanon is Handing over an Assad-era General after War Crimes Questioning

(FILES) Syria's President Bashar al-Assad speaks during a press conference with Iraq's Prime Minister in Damascus on July 16, 2023. (Photo by LOUAI BESHARA / AFP)
(FILES) Syria's President Bashar al-Assad speaks during a press conference with Iraq's Prime Minister in Damascus on July 16, 2023. (Photo by LOUAI BESHARA / AFP)

Lebanon’s judicial authorities have decided to hand over a former senior Syrian military officer under ousted President Bashar Assad to Damascus after questioning him over crimes he allegedly committed during the country’s conflict, officials said Tuesday.

Maj. Gen. Adel Issa will be the first military officer to be handed over by Lebanon since Assad’s fall in late 2024. He is expected to stand trial in his home country. There were no immediate details on the alleged crimes.

The decision comes days after a vote in parliament that made Lebanon the first Arab country to abolish the death penalty, a step that will become formal once it is published in the Lebanese Official Gazette.

The judicial officials said Issa is being handed over to Syria in accordance with a 1951 agreement between the countries that calls for handing over suspected criminals.

On Tuesday afternoon, Issa was taken by members of Lebanon’s General Security Directorate, who will drive him to a border crossing and hand him over to Syrian authorities, two judicial and two security officials said. The officials spoke on condition of anonymity in line with regulations.

After Syrian fighters opposed to Assad marched into Damascus to end the Assad family's five-decade rule in December 2024, a number of military and security officers fled to Lebanon, where some remain.

Dozens of other former members of his security agencies accused of atrocities have been arrested and put on trial in Syria.

Last week, a Syrian court sentenced Assad and his younger brother Maher to death in absentia while their maternal cousin, Brig. Gen. Atef Najib, became the most senior security official to be sentenced to death while in custody. The Assad brothers fled to Russia during the ouster.

Issa was questioned last week by judge Ahmad Rami Hajj, Lebanon’s public prosecutor at the Court of Cassation, over alleged crimes he had committed in Syria’s eastern province of Deir el-Zour and the northern province of Raqqa during Syria’s conflict that broke out in 2011.

The judicial officials told The Associated Press that Issa denied all the charges against him, saying he was a military officer carrying out orders.

The Syrian embassy in Beirut sent Issa’s charge sheet to Lebanese judicial authorities earlier this month, the officials said.

Issa was detained on Aug. 8 when he went to the Syrian embassy in Beirut for some paperwork. Embassy officials contacted Lebanon’s prosecutor’s office to tell them that Issa is wanted in Syria. He has been held at Beirut’s Palace of Justice detention center.

Issa had fled to Lebanon by crossing illegally after Assad’s fall, the officials said.

The Britain-based Syrian Observatory for Human Rights, a war monitor, said after commanding the Syrian army’s 17th Division, Issa was moved in 2015 to command ground forces in Deir el-Zour that borders Iraq, and that he retired in late 2016.

Syria’s conflict, which began with anti-government protests in March 2011 before turning into a civil war, left half a million people dead and over 1 million wounded.


Aramco, Maaden Sign Joint Venture Agreement on Mineral Exploration, Hard-Rock Mining in Saudi Arabia

File photo of the Saudi flag - SPA
File photo of the Saudi flag - SPA
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Aramco, Maaden Sign Joint Venture Agreement on Mineral Exploration, Hard-Rock Mining in Saudi Arabia

File photo of the Saudi flag - SPA
File photo of the Saudi flag - SPA

Aramco and Maaden announced the signing of a shareholders’ agreement to form a Joint Venture (JV) to unlock new opportunities in mineral exploration and hard-rock mining in the Kingdom of Saudi Arabia.

Combining the strengths of two leaders in their respective fields, the JV would focus on copper and other minerals critical to the energy transition. The JV plans were first disclosed in January 2025.

The JV is expected to be owned 51% by Maaden and 49% by Aramco, and focus on exploration across Zone-4, also known as the Transition Zone, within the Arabian Platform. It represents a major new opportunity for mineral discovery in the Kingdom.

Spanning approximately 182,000 square kilometers, nearly 10% of Saudi Arabia’s total land area, the expected exploration area stretches along a 100-kilometer-wide zone running parallel to the Arabian Shield.

Aramco Vice President of Transition Minerals Saleh M. Al Saleh said: "Over 90 years, Aramco has accumulated and analyzed the largest amount of geological and geophysical data ever acquired in a single basin for the Kingdom. This partnership intends to leverage this legacy information to find minerals in the JV area within the basin. Maaden’s expertise, our people, high-performance computing, and AI are expected to play a pivotal role in accelerating the discovery of key transition minerals at low cost."

Maaden Executive Vice President for Exploration Darryl Clark said: “Maaden has been advancing one of the world’s largest single jurisdiction exploration programs across the Arabian Shield to help unlock the Kingdom’s mineral potential. This joint venture would take that ambition into a new area. By combining Maaden’s exploration and development expertise with Aramco’s extraordinary knowledge of the Arabian Platform, we would have an opportunity to move faster, explore smarter, and create new opportunities to discover the minerals that will power the energy transition.”

Copper, which is increasingly significant for electric vehicles, power networks, energy storage, and renewable energy systems, would be a main focus of the JV. Copper is a major metal making up over 20% of the $1.2 trillion mined metals market. The copper market is currently valued at approximately $250 billion and is projected to grow to over $400 billion by 2035. The JV would also explore for other energy transition minerals including zinc, lead, and rare earth elements that are expected to be crucial to industries of the future.

Leveraging advanced computational algorithms, AI, and high-performance computing, the JV intends to target areas most likely to contain copper and valuable minerals, accelerating the path from regional screening to target definition and discovery. This is expected to support long-term sector development, reinforce the Kingdom’s role in the global minerals value chain, and help meet rising demand for transition minerals.

The effectiveness of the shareholders’ agreement and the incorporation of the JV is conditional upon the fulfillment of certain condition precedents, including, but not limited to, obtaining all the required corporate and regulatory approvals and antitrust clearance.


Gold Slips on Firmer Treasury Yields, Oil Prices; Fed Minutes in Focus

An employee displays a gold necklace at a jewelry store in Varanasi, India (AFP)
An employee displays a gold necklace at a jewelry store in Varanasi, India (AFP)
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Gold Slips on Firmer Treasury Yields, Oil Prices; Fed Minutes in Focus

An employee displays a gold necklace at a jewelry store in Varanasi, India (AFP)
An employee displays a gold necklace at a jewelry store in Varanasi, India (AFP)

Gold fell on Tuesday, pressured by higher Treasury yields and oil prices, while traders awaited minutes of the US Federal Reserve's July policy meeting for clues on the outlook for interest rates.

Spot gold was down 0.4% to $4,397.42 per ounce, as of 0624 GMT, while US gold futures for December delivery dropped 0.5% to $4,452.90. Yields ‌on the benchmark ‌10-year US Treasury note extended gains, raising ‌the ⁠opportunity cost of holding ⁠non-yielding bullion.

Oil prices edged higher after Iran said it would shift to a "fully offensive" military posture following a breakdown in efforts to negotiate a permanent end to the war with the United States, while Washington ruled out extending a temporary ceasefire agreement.

Oil prices will remain one ⁠of the key factors keeping gold under ‌pressure as the situation in ‌the Middle East continues to look uncertain, ANZ analyst Soni ‌Kumari said.

Traders' expectations around Fed policy rates are ‌going to be important for gold, with a focus on technical levels, Kumari added.

Elevated energy prices tend to raise inflationary fears and bolster expectations of higher interest rates. While gold is typically seen ‌as a hedge against inflation, higher interest rates tend to diminish bullion's appeal.

However, market ⁠pricing for ⁠a September quarter-point hike flipped to a nearly 65% chance of a "hold" after unexpected job losses in July, lower-than-expected consumer price inflation and weaker retail sales.

Investors are also awaiting minutes of the Fed's most recent policy meeting, with the release scheduled for Wednesday.

Spot gold may test support at $4,381, a break below which could open the way towards the $4,320 to $4,351 range, according to Reuters technical analyst Wang Tao. Among other metals, spot silver slipped 0.7% to $65.32 per ounce, platinum lost 0.6% to $1,759.63 and palladium dipped 0.6% to $1,325.47.