Syria canceled the investment agreement with Russia on the port of Tartus

The new Syrian authorities have canceled an investment agreement with a Russian company on the management of the port of Tartus on The Mediterranean Sea, the director of Tartus Customs, Riyad Judy, told Al-Watan.

All revenues from the management of the port will go "to the benefit of the Syrian state," and the workers will return to local management, he said. According to Judy, the Syrian side will also deal with the restoration of outdated equipment, "which was used by the company without the upgrade provided for in the agreement."

In 2019, the Syrian authorities signed an investment contract with the Russian company Stroytransgaz for a period of 49 years to expand the port of Tartus. It was assumed that within four years Russia would invest $ 500 million.

According to the director of customs, the port of Tartus is now "practically paralyzed" due to high fees and the cost of logistics services. For some goods, customs duties have been reduced by 60%, he told Al-Watan.

After the overthrow of Bashar al-Assad in early December 2024, the transitional government of Syria was headed by Mohammed al-Bashir until March 1, 2025. Previously, he was the head of the "Government of Salvation of Syria" — an opposition structure that for a long time acted as an alternative to the official Cabinet of Ministers and administered the territories occupied by militants in the province of Idlib. For example, in 2022 he was the Minister of Development and Humanitarian Affairs in this territory.

At the end of last year, Russian exporters suspended wheat supplies to Syria, as RBC's source on the grain market noted, now there is "no one to interact with" in this country. Dmitry Trifonov, CEO of STG Engineering, which supplied wheat, announced his readiness to resume exports after establishing relations with the new Syrian authorities. This week, Al Araby reported that Syrian retail chains have banned the import of goods from Russia, Iran and Israel.