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FINANCIAL NEWS
Syria seeks to sell oil to Russia, China
08 Sep 2011
(MENAFN) Syria’s finance minister, Mohammad Al-Jleilati, said that his country could sell oil to Russia or China in order to evade European and US bans on imports from Syria, reported Arab News.
Al-Jleilati added that the western attempt to increase pressure on the Syrian regime wouldn’t succeed as long as Syria would be able to secure its local needs.
He also said that Syria exported around 150,000 barrels per day (bpd) of crude, of which 99 percent was imported by European countries, adding that it would sell the amount directly to Russia or China, refine it or reserve it.
It is worth noting that the sanctions imposed on Syria by the Europeans and the US would most likely be reflected on the country’s exports, moreover, this year’s inflation would be expected to reach between 4 percent and 5 percent.
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