Assad Signs Iranian Credit Line to Supply Syria with Energy

Syrians await the release of their relatives on May 3, 2022 in the centre of Damascus, after a general amnesty was issued by the Syrian president. (AFP)
Syrians await the release of their relatives on May 3, 2022 in the centre of Damascus, after a general amnesty was issued by the Syrian president. (AFP)
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Assad Signs Iranian Credit Line to Supply Syria with Energy

Syrians await the release of their relatives on May 3, 2022 in the centre of Damascus, after a general amnesty was issued by the Syrian president. (AFP)
Syrians await the release of their relatives on May 3, 2022 in the centre of Damascus, after a general amnesty was issued by the Syrian president. (AFP)

Syrian President Bashar al-Assad signed an Iranian credit line during a surprise visit to Tehran on Sunday, Syrian local media reported.

The official Syrian News Agency (SANA) said that Assad had signed a “new phase” of the credit line, which included supplying Syria with energy and other basic materials to fill the shortage.

A credit line is a flexible loan from a bank or financial institution, with a defined amount of money that can be accessed as needed and then repaid immediately or over a specified period of time.

The first credit line opened by Iran to Syria was in 2013, with a ceiling amounting to $1 billion dollars with soft interests, followed by another worth $3 billion to finance the country’s needs of oil and its derivatives.

In 2015, a new credit line worth $1 billion was opened, the revenues of which were used by Damascus to finance the import of goods and merchandise and the implementation of projects.

Despite international sanctions imposed on the two countries, Iranian economic support for the regime in Syria included, in addition to credit lines, many economic cooperation agreements that covered vital areas, mainly electricity and railways.

Syria has been facing a severe fuel and energy crisis since mid-March, after the halting of Iranian oil deliveries and the decline of Russian support, with Moscow’s engagement in the Ukrainian war.

According to media sources, Damascus has asked several Arab countries to supply it with oil through the private sector, but the economic sanctions imposed on Syria prevented the urgent demand from being met.

Economic sources in Damascus said that there was no solution but to activate the Iranian-Syrian credit line and circumvent the Iranian conditions, which require cash payment for oil, due to the international sanctions on Iran and Syria.

Assad’s surprise visit to Iran culminated in the activation of the credit line and Iran’s announcement that it would maintain its support to the Syrian president. The latter met with Iran's Supreme Leader Ali Khamenei, who underlined Tehran’s continued support to Syria, according to the sources.

Syria’s fuel and energy crisis led to a sharp rise in the prices of all commodities, necessities and foodstuffs, which reached more than 800 percent – the highest increase since 2013, according to a statement issued on Monday by the United Nations World Food Program (WFP).

“With years of conflict, a severe economic downturn, and food prices rising relentlessly since 2020, the Ukraine crisis is exacerbating what was already an alarming food security scenario in Syria. In March, food prices increased by 24 percent in just one month, following an 800 percent increase in the last two years. This has brought food prices to their highest level since 2013,” the WFP said.

It added: “Some 12 million people in Syria - more than half the population – currently face acute food insecurity. That is 51% more than in 2019 and an additional 1.9 million are at risk of sliding into hunger. With basic meals becoming a luxury for millions, nutrition is becoming a serious issue.”

WFP Executive Director David Beasley urged the international community to take immediate action in this regard.

“The international community must recognize that not taking action now will inevitably lead to a catastrophic future for Syrians. They deserve our immediate and unconditional support,” he stated.



Myanmar Earthquake Death Toll Rises to 3,085 as More Bodies Found

People look at the collapsed Maha Myat Muni Pagoda following an earthquake in Mandalay, Myanmar, 28 March 2025 (issued 29 March 2025). EPA/STRINGER
People look at the collapsed Maha Myat Muni Pagoda following an earthquake in Mandalay, Myanmar, 28 March 2025 (issued 29 March 2025). EPA/STRINGER
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Myanmar Earthquake Death Toll Rises to 3,085 as More Bodies Found

People look at the collapsed Maha Myat Muni Pagoda following an earthquake in Mandalay, Myanmar, 28 March 2025 (issued 29 March 2025). EPA/STRINGER
People look at the collapsed Maha Myat Muni Pagoda following an earthquake in Mandalay, Myanmar, 28 March 2025 (issued 29 March 2025). EPA/STRINGER

The death toll from the massive earthquake that hit Myanmar nearly a week ago rose Thursday to 3,085 as search and rescue teams found more bodies, the military-led government said, and humanitarian aid groups scrambled to provide survivors medical care and shelter.
In a short statement, the military said another 4,715 people have been injured and 341 are missing.
The epicenter of Friday's 7.7 magnitude earthquake was near Mandalay, Myanmar's second-largest city. It brought down thousands of buildings, buckled roads and destroyed bridges in multiple regions, The Associated Press said.
Local media reports of casualties have been much higher than the official figures and with telecommunications widely out and many places difficult to reach, it's thought the numbers could rise sharply as more details come in.
The World Health Organization said that according to its initial assessment, four hospitals and one health center had been completely destroyed while another 32 hospitals and 18 health centers had been partially damaged.
“With infrastructure compromised and patient numbers surging, access to health care has become nearly impossible in many of the worst-hit areas,” the UN said. “Thousands of people are in urgent need of trauma care, surgical interventions and treatment for disease outbreaks.”
A mobile hospital from India and a joint Russian-Belarusian hospital also were now operating in Mandalay.
With many left homeless by the earthquake, and many others staying away from their homes over fears ongoing aftershocks will bring them down, workers in Naypyitaw labored in the 40 degree Celsius (104 degrees Fahrenheit) busily erected big tents in open fields to provide some shelter.
In Mandalay, local residents gave slices of watermelon to Chinese volunteers taking a break from the heat.
More than 1,550 international rescuers were operating alongside locals on Thursday, according to a statement from the military. Rescue supplies and equipment have been sent by 17 countries.
Myanmar’s military seized power in 2021 from the democratically elected government of Aung San Suu Kyi, sparking what has turned into a civil war.
The quake worsened an already dire humanitarian crisis, with more than 3 million people displaced from their homes and nearly 20 million in need even before it hit, according to the United Nations.
As concerns grew that ongoing fighting could hamper humanitarian aid efforts, the military declared a temporary ceasefire Wednesday, through April 22. The announcement followed unilateral temporary ceasefires announced by armed resistance groups opposed to military rule.
The military said it would still take “necessary” measures against those groups if they use the ceasefire to regroup, train or launch attacks.
Already on Thursday there were reports from local media in Kachin state in the north of Myanmar that military attacks continued in several areas, but they could not be independently confirmed.
Prior to the earthquake the military was battling the Kachin Independence Army group. The KIA on Wednesday also declared a ceasefire but reserved the right to defend itself. It was unclear how the reported fighting broke out.
The earthquake shook Kachin, but there have been no reports of damage there.
In Bangkok, where the quake brought down a skyscraper under construction, the search for survivors and bodies continued as Gov. Chadchart Sittipunt said a possible sound of life was detected in the rubble. By near day's end, however, nobody was found.
Twenty-two people were killed and 35 injured in the city, mostly by the collapse of the unfinished building.