DAMASCUS (Reuters) – The governments of Syria and Iran have agreed steps that will allow bank transactions between the countries, officials said on Tuesday, a move aimed at boosting trade and investment as Damascus looks to its ally Tehran to help rebuild from war.
The deal was one of several concluded during a visit to Damascus by Iranian Vice President Eshaq Jahangiri, whose country’s support has been vital to President Bashar al-Assad during the war.
States - Opposition - Damascus - Countries - Iran
Shunned by Western states that backed the opposition, Damascus is looking to countries such as Iran, Russia and China to help rebuild. But banking transactions between Syria and Iran have been affected by Western restrictions on their access to the international financial system.
Addressing an Iranian-Syrian business forum in Damascus, Jahangiri said “ministers confirmed that banking transactions will take place very soon between the countries”.
Comments - State - Media - Abdolnaser - Hemmati
In comments circulated by Iranian state media, Abdolnaser Hemmati, Iran’s central bank governor, said the agreement enabled banks to conduct transactions in their local currencies and non-dollar foreign currencies.
Iran has supported Damascus in the war through the deployment of its own forces in addition to Tehran-backed Shi’ite militias such as Lebanon’s Hezbollah.
Mohammad - Saeed - Shahmiri
Mohammad Saeed Shahmiri,...
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