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Syria plans to print currency in UAE and Germany, ending Russian role: Reuters

Middle East News

16-05-2025 | 08:19

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Syria plans to print currency in UAE and Germany, ending Russian role: Reuters

Syria plans to print a newly-designed currency in the UAE and Germany instead of Russia, three sources said, reflecting rapidly improving ties with Gulf Arab and Western states as a move to loosen U.S. sanctions offers Damascus new opportunities.

In another sign of deepening ties between Syria's new rulers and the UAE, Damascus on Thursday signed an $800 million initial deal with the UAE's DP World to develop Tartus port - the first such deal since President Donald Trump's surprise announcement on Tuesday that U.S. sanctions on Syria would be lifted.

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