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.



Congo M23 Rebels Say They Will Withdraw from Seized Town to Support Peace Push

 Abandoned military helmets that belonged to the Armed Forces of the Democratic Republic of Congo (FARDC) are seen at Goma airport after the town was seized by the M23 rebels, in Goma, Democratic Republic of Congo, March 19, 2025. (Reuters)
Abandoned military helmets that belonged to the Armed Forces of the Democratic Republic of Congo (FARDC) are seen at Goma airport after the town was seized by the M23 rebels, in Goma, Democratic Republic of Congo, March 19, 2025. (Reuters)
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Congo M23 Rebels Say They Will Withdraw from Seized Town to Support Peace Push

 Abandoned military helmets that belonged to the Armed Forces of the Democratic Republic of Congo (FARDC) are seen at Goma airport after the town was seized by the M23 rebels, in Goma, Democratic Republic of Congo, March 19, 2025. (Reuters)
Abandoned military helmets that belonged to the Armed Forces of the Democratic Republic of Congo (FARDC) are seen at Goma airport after the town was seized by the M23 rebels, in Goma, Democratic Republic of Congo, March 19, 2025. (Reuters)

Rwanda-backed M23 rebels staging an offensive in east Congo said on Saturday they would withdraw forces from the seized town of Walikale in support of peace efforts, having previously said they were leaving troops there as they pushed on to the capital.

The government said it hoped the move would be translated into concrete action, after M23 this week pulled out of planned talks with Congolese authorities at the last minute due to EU sanctions on some of its leaders and Rwandan officials.

It would have been their first direct engagement with Congo's government after President Felix Tshisekedi reversed his longstanding refusal to speak to the rebels.

The Congo River Alliance, which includes M23, said in a statement on Saturday that it had "decided to reposition its forces" from Walikale and surrounding areas that M23 took control of this week.

This decision was in line with a ceasefire declared in February and in support of peace initiatives, it said in a statement that was greeted with skepticism by army officers.

A senior member of the alliance who did not wish to be named said repositioning meant withdrawing to "give peace a chance". The source declined to say where M23 rebels would withdraw to.

"We are asking for Walikale and surroundings to remain demilitarized," the source said. "If the FARDC (Congo's army) and their allies come back, this means they want to relaunch hostilities."

Foreign Affairs Minister Therese Kayikwamba Wagner told reporters: "We are going to see whether M23 will withdraw from Walikale and whether M23 will give priority to dialogue and peace ... So we hope that this will be translated into concrete action."

PEACE EFFORTS

Congo's army did not immediately respond to a request for comment.

An army officer said he was skeptical about the announced withdrawal. Another officer said M23 was advancing towards Mubi, another town in the area, after the army and pro-government militia bombed Walikale's airport and cut off some of M23's road access.

"They now have a provision problem," said the second officer, who spoke on condition of anonymity. "They will not withdraw. They will move in front of (Walikale) and behind it."

A M23 officer told Walikale residents on Thursday they were leaving a small group of soldiers there to provide security, while other soldiers "continue all the way to Kinshasa".

Walikale is the furthest west the rebels have reached in an unprecedented advance that has already overrun eastern Congo's two largest cities since January.

Its capture put the rebels within 400 km (250 miles) of Kisangani, the country's fourth-biggest city with a bustling port at the Congo River's farthest navigable point upstream of the capital Kinshasa, some 1,500 km (930 miles) away.

There have been several attempts to resolve the spiraling conflict, rooted in the fallout from Rwanda's 1994 genocide and competition for mineral riches, including several ceasefires that were violated and regional summits to open up dialogue.

Congo, the United Nations and Western governments say Rwanda has been providing arms and troops to the ethnic Tutsi-led M23. Rwanda denies this, saying its military has been acting in self-defense against Congo's army and a militia founded by perpetrators of the genocide.

The M23 alliance leader Corneille Naanga on Friday dismissed a joint call for an immediate ceasefire by Congo and Rwanda and reiterated demands for direct talks with Kinshasa, saying it was the only way to resolve the conflict.