Syria has announced plans to shift its currency printing operations from Russia to the United Arab Emirates and Germany. This move signifies a growing alignment with Gulf Arab and Western nations. The decision follows the recent easing of EU sanctions and a U.S. announcement to lift sanctions on Syria, opening the door for economic revitalization. Syria’s new leadership has initiated advanced talks with UAE-based Oumolat and shown interest from German firms, though no final agreements have been confirmed. A redesigned Syrian pound will exclude the image of former leader Bashar al-Assad, symbolizing a break from the past amid efforts to rebuild an economy devastated by 13 years of war and a severe banknote shortage. The deal coincides with a landmark $800 million agreement with the UAE’s DP World to develop the Tartus port. Despite financial assistance from Russia, Syria’s move has caused unease in Europe, which seeks to curtail Russian influence. The Syrian pound, which had severely devalued during the civil war, has seen a slight recovery in black market trading since Assad’s ouster

Source: Reutets