Syria Runs First Latakia-Adra Freight Train in 14 Years
A trial freight train completed the run from Latakia port to the Adra industrial station near Damascus on 19 May 2026, restoring service on a corridor that had been idle since 2011.
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Latest economic and financial news about Syria, currency markets, and regional economy updates.
Syria's Banias Refinery Returns to Full Capacity After Maintenance
The Syrian Petroleum Company restarted full operations at the Banias refinery on 18 May 2026 after completing scheduled maintenance. The country's second-largest plant resumed processing crude across its distillation, improvement, and hydrogenation units.
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Syrian Staple Food Prices Jump More Than 20% in a Week
Sugar, rice, oil and lentils climbed by more than a fifth across Syrian markets last week, with daily price changes and no official tariff in place, as the pound traded above 140 against the US dollar.
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Iraq's Crude and UAE Cargo Pivot Through Syria as Hormuz Risk Climbs
Iraq's state oil marketer has asked Damascus for transit facilities to ship crude to the port of Banias, while a first 200-vehicle UAE shipment moved through Syria for re-export via Latakia in April 2026.
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IMF, World Bank Back Syria Reform Push at G7 Paris Meeting
Syrian Finance Minister Mohammed Yisr Berniyeh presented the country's financial reform agenda at a closed G7 finance ministers' session in Paris on 19 May 2026, drawing public backing from IMF chief Kristalina Georgieva and World Bank President Ajay Banga.
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Syria Replaces 2006 Customs Law With 264-Article Decree 109
Syrian President Ahmad al-Sharaa issued Decree 109 enacting a 264-article general customs law that replaces 2006 Laws 37 and 38, alongside Decree 110 setting a new harmonized tariff schedule effective 1 June 2026.
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Syria Lamb Prices Surge as Awasi Exports Continue Before Eid al-Adha
Live lamb in Syria has climbed above 7 US dollars per kilogram as continued exports of Awasi sheep to Gulf markets — including a 400-ton red-meat contract with Jordan — drain local supply before Eid al-Adha.
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Sharaa Signs Decree 110 Adopting Harmonized Customs Tariff From 1 June 2026
President Ahmad al-Sharaa adopted a new harmonized customs tariff schedule that takes effect on 1 June 2026 and replaces two decrees dating back to 2001 and 2014.
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EU Lifts Sanctions on Seven Syrian State Bodies Including Interior, Defense
The European Union removed restrictive measures from seven Syrian state institutions, including the ministries of Interior and Defense, while renewing sanctions on figures linked to the former government.
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Syria to Join G7 Finance Ministers Meeting in Paris, Reintegration in Focus
Syrian Finance Minister Mohammad Yusr Barnieh is expected to attend a closed session with G7 finance ministers and central bank governors in Paris on 18 May 2026, with talks centered on Syria's economic recovery and gradual reintegration into the global financial system.
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