The Consequences of ‘Normalization’ with Damascus

Syrian President Bashar al-Assad receives the UAE Foreign Minister (SANA)
Syrian President Bashar al-Assad receives the UAE Foreign Minister (SANA)
TT

The Consequences of ‘Normalization’ with Damascus

Syrian President Bashar al-Assad receives the UAE Foreign Minister (SANA)
Syrian President Bashar al-Assad receives the UAE Foreign Minister (SANA)

Key Arab countries are expected to take more steps towards the normalization of ties with Syria before re-admitting Damascus into the Arab League by a more significant political initiative next spring when the regional organization holds its scheduled summit in Algeria.

Attention is now directed towards the parties conducting the next steps in normalizing ties with Damascus.

This comes after the visit of UAE Foreign Minister Abdullah bin Zayed to Damascus and his meeting with President Bashar al-Assad last week, Syrian Foreign Minister Faisal Miqdad meeting with a number of his counterparts in New York two months ago, and the head of Syria’s main spy agency, the General Intelligence Directorate, Maj. Gen. Hossam Louka, participating at an intelligence forum in Cairo a few days ago.

In the past few days, a series of public and non-public meetings were held between Arab and foreign officials to discuss the Syrian crisis and to coordinate between the involved parties “so that normalization would not come for free.”

Several ideas were put on the table of main Arab countries.

As for these states, they have taken the “first step” with Damascus, and therefore are waiting for “reciprocal steps” on Syria’s part before the normalization train goes to its next stations.

Individual or collective Arab expectations relate to three levels:

The first level pertains to Syrian files, such as Damascus positively handling the political process and the meetings of the Constitutional Committee.

The seventh round of Committee meetings led by Special Envoy for Syria Geir Pedersen is currently under consideration by the UN to be held on December 13. Talks will tackle the return of refugees, detainees, and displaced persons, and finally the implementation of Resolution 2254.

The second level revolves around geopolitical expectations regarding the Iranian presence in Syria, the Turkish incursion into its north, and the possibilities of opening channels between Tel Aviv and Damascus.

Demands are no longer focused on removing Iran completely from Syria.

Rather, expectations revolve around mitigating, redefining, or dissolving the Iranian role, in addition to lowering Syria’s provision of logistical-military-training support to Iran in other files related to Arab countries.

As for the third level, it concerns Damascus’ cooperation in the areas of combating terrorism and crime, controlling the borders with Jordan, and stopping drug smuggling to Arab countries, whether from Jordan’s borders or from Syrian and Lebanese ports.

It also concerns not having more refugees pouring into neighboring countries.

Washington has not prevented Arab countries from normalizing ties with Damascus. Instead, the US is asking these countries to obtain internal or geopolitical “Syrian concessions” while reminding them of sanctions under the Caesar Syria Civilian Protection Act.

Washington, at the same time, informed European countries of the need to maintain the “three no’s”: No to financing the reconstruction of Syria, no to breaking isolation, and no to lifting sanctions before achieving progress in the political process according to UNSC resolution 2254.

Indeed, countries are still committed to their positions and have sanctioned new Syrian ministers.

However, a number of European countries began to ask questions about the future of European policies towards Syria, which are confused between three directions: the urgency of Arab countries to normalize ties with Damascus, and the great doubts, especially from France and Germany, about the feasibility of engaging with Russia, which increases pressure on Europe with the “weapon of refugees” in Belarus, and American advice about the need to commit to traditional policy with Syria.

Doses of Arab normalization renewed the call for the need of reaching an international-Arab formula for a “step-for-step” approach that defines what is required of Damascus and the incentives offered to it, but a collective understanding on this has not yet emerged.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.