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05-05-2026
DAMASCUS/ BANIYAS: Russia has emerged as the main supplier of oil to Syria, Reuters reporting shows, despite the new government’s alignment with the West and widespread distrust of Moscow over its military support for fallen leader Bashar al-Assad.
Oil shipments from Russia have jumped 75% to about 60,000 barrels per day this year, the reporting found, based on Reuters calculations of official announcements and ship tracking data on LSEG, MarineTraffic and Shipnext.
The volumes represent a tiny share of Russia’s daily global oil exports but for Syria, where domestic production remains far below demand, the flows make Moscow the country’s dominant crude supplier following the fall of Assad in December 2024, taking over from Iran which was a key ally of the ousted leader during the country’s 14-year civil war.
The dynamic highlights how limited Syria’s options remain. Despite emerging from the war as Western-leaning, its economy is not closely integrated into the global financial system, even after Europe and Washington last year ended decades of sanctions on the country.
Two analysts and three Syrian officials said the trade reflects economic necessity in Damascus and also gives Moscow influence in a country where it retains two naval and air bases.
The relationship with Russia risks straining ties with the EU and Washington, but Damascus currently has few options, said the officials who spoke on condition of anonymity to discuss sensitive matters.
The trade could also make Syria’s energy sector vulnerable to renewed Western sanctions, said Syrian economist Karam Shaar.
“If the United States were to fail to reach an agreement or settlement with Russia regarding Ukraine, it wouldn’t be a surprise if it told Syria overnight to stop buying these oil shipments,” Shaar said, adding that Syria’s government was aware of the risks and was looking for alternative suppliers.
An official at state-run Syrian Petroleum Company (SPC) said Damascus was trying to diversify suppliers and had, so far unsuccessfully, sought an oil deal with Turkey, which is close to the Sharaa government.
Maritime analytics firm SynMax said financial constraints, commercial risks and years of conflict limit Syria’s access to conventional tanker operators, leaving Russian-linked networks among the most viable options.
“These shipping networks could present reputational challenges for Syria as it seeks to re-establish commercial credibility,” SynMax said in a statement, but noted that “a transition toward conventional international supply chains is unlikely to occur immediately.”
Neither the Syrian nor Russian energy ministries responded to requests for comment. The US State Department declined to comment on Syria’s oil trade with Russia.
In response to the war in Iran, the US Treasury has issued temporary waivers for countries to buy sanctioned Russian oil and petroleum products already at sea.
Syria’s Ministry of Information, which handles media requests on behalf of Sharaa’s office, also did not respond.
A Syrian energy ministry official said Syria’s reliance on Russian oil also reflected the country’s limited market size and weak purchasing power, which made it hard to secure long-term contracts with other major oil producers such as Gulf countries.
The Central Bank of Syria only reactivated its account at the Federal Reserve Bank of New York in March, opening opportunities for wider banking communications with the global financial system for the first time since 2011. (Int’l Monitoring Desk)
