Skip to main content

Russia's high economic and energy interests in Syria

Military cooperation [edit]

Assad with Russian President Dmitry Medvedev whilst on a visit to Sochi in August 2008.
The Syrian port city of Tartus hosts a Soviet-era naval supply and maintenance base, under a 1971 agreement with Syria. The base was established during the Cold War to support the Soviet Navy's fleet in the Mediterranean Sea. Since Russia forgave Syria of three-fourths, or $9.8 billion, of its $13.4 billion Soviet-era debt and became its main arms supplier, Russia and Syria have conducted talks about allowing Russia to develop and enlarge its naval base, so that Russia can strengthen its naval presence in the Mediterranean.[4] Amid Russia's deteriorating relations with the West, because of the 2008 South Ossetia War and plans to deploy a US missile defense shield in PolandPresident Assad agreed to the port’s conversion into a permanent Middle East base for Russia’s nuclear-armed warships.[5] Since 2009, Russia has been renovating the Tartus naval base and dredging the port to allow access for its larger naval vessels.[6]

Syria for the past few years has reached out to Russia to obtain modern weapons that included many modern anti-tank and anti-air missile systems that will further improve its combat capabilities. In 2008, Syria agreed to purchase MiG-29SMT fighters, Pantsir S1E air-defense systemsIskander tactical missile systemsYak-130 aircraft, and two Amur-1650 submarines from Russia. Russia's foreign minister said his country's sale of weapons to Syria would not upset the balance of power in the Middle East. The sales he stated are "in line with the international law" and "in the interests of strengthening stability and maintaining security" in regions close to Russian borders, Sergei Lavrov told reporters during a visit to the United Nations in New York.[7] As of 2011, Syria's arms contracts with Russia were worth at least $4 billion.[8][9] Dmitri Trenin reports in the New York Times that from 2000 to 2010 Russia sold around $1.5 billion worth of arms to Syria, making Damascus Moscow’s seventh-largest client.[10]

Economic relations [edit]

Russia has significant trade relations with Syria. Its exports to Syria were worth $1.1 billion in 2010 and its investments in the country were valued at $19.4 billion in 2009 according to The Moscow Times.[11][12] Besides lucrative arms contracts worth at least $4 billion, Russian firms have a substantial presence in Syria's infrastructure, energy and tourism industries.[8] Stroitransgaz, a natural gas facility construction company, has the largest Russian operation in Syria. In 2010, it was involved in projects worth $1.1 billion and had a staff of 80 Russians working in Syria. Stroitransgaz is building a natural gas processing plant 200 kilometers east of Homs in the Al-Raqqa region and is involved in technical support for the construction of the Arab Gas PipelineTatneft is the most significant Russian energy firm in Syria. The company began in 2010 through a joint venture with the Syrian national oil company to pump Syrian oil and it planned to spend $12 million on exploratory wells near the Iraqi border.[11] Other firms with large business interests in Syria include steel pipe manufacturer TMK, gas producer ITERA, and national carrier Aeroflot.[8]

Ref:

Comments

Popular posts from this blog

LIC Buys Double as Prices Dive - 10 Aug 2011

http://licreddy.com/Content/information/insurancenews_details.asp?NewsCode=4872 LIC Buys Double as Prices Dive 10-Aug-2011 Life Insurance Corp of India, the government's institution of choice to stabilise the stock market whenever it gets wobbly, has more than doubled stock purchases in the past three days as the global debt worry-triggered selloff made valuations attractive. LIC, the country's biggest investor with stakes in L&T, Axis Bank and Grasim, will raise its secondary market purchases this fiscal as IPOs dry up with promoters not keen to sell shares at lower valuations. "We have been buying in the past few days,'' said a LIC executive involved in decisionmaking. "With the market correcting and not many public issues coming up, we would be investing more in secondary market," said the person who did not want to be identified. LIC to Invest . 50k Cr More LIC, which had been buying stocks for an average of . 120 crore in the first four...

Best IELTS and English language training institutions in Hyderabad

IELTS stands for International English Language Testing System. As the name implies it is basically an English test for testing the proficiency of the language in an individual.  Training for IELTS can be taken to pass the IELTS exam or to develop good english language skills. I am giving the training institute addresses for Hyderabad. The test system is jointly managed by the British Council,IDP education ltd and University of Cambridge ESOL Examinations and more than 1 million candidates are taking the exam all over the world. The test has two versions : 1. Academic 2. General training Academic  version is for people who plan to continue their higher education by enrolling in universities in countries like US,UK,Australia,Canada,New Zealand etc.The academic institutions in these countries consider the IELTS score as a criteria for the admission process. General training is mostly for immigration purposes in countries like Australia,New Zealand,Canada etc. It may ...

Home loan or Car loan calculator

A good EMI calculator http://www.bankbazaar.com/home-loan-emi-calculator.html Tax benefits: Tax benefit is only on the interest paid on the loan taken. Prohibition of Usury in Various Religions Hinduism The earliest such record derives from the   Vedic   texts of Ancient India (2,000-1,400 BC) in which the "usurer" ( kusidin ) is mentioned several times and interpreted as any lender at interest.  More frequent and detailed references to interest payment are to be found in the later   Sutra   texts (700-100 BC), as well as the Buddhist   Jatakas   (600-400 BC).  It is during this latter period that the first sentiments of contempt for usury are expressed.  For example, Vasishtha, a well known Hindu law-maker of that time, made a special law which forbade the higher castes of   Brahmanas   (priests) and   Kshatriyas   (warriors) from being usurers or lenders at interest.  Also, in the   J...