In accordance with an agreement signed this month between Iran and Syria, the Islamic Republic has extended a $3.6-billion oil credit line to Syria.
SANA reports that Iran has agreed to provide $3.6 billion dollars in oil in exchange for investment privileges in the country.
According to the report, Syria will compensate Iran for the oil loan “through Iranian investments of various kinds in Syria.” No further details about these investments have been released.
Iran has remained a supporter of the Beshar Assad regime throughout the conflicts in Syria.
Syria used to be a small exporter of energy; however, oil production has been curtailed by the internal conflicts.