Until a couple of years ago, one could safely claim that Iran footed much of the bill for supporting Assad throughout the Syrian conflict while Russia reaped more economic benefits. Think the Port of Tartous, Khneifis phosphate fields, Homs Petrochemical Factory, and offshore oil and gas exploration (Blocs One and Two).

This is clearly changing, especially following President Reisi’s visit to Damascus in May. Today all merchandise tariffs were scrapped, as announced in Tehran during the visit of a high-level delegation from Damascus. There’s also talk about establishing a joint bank and insurance company for the first time, as reported by SANA. Tehran has effectively weaponized oil deliveries in the past and taken a more aggressive stance toward the regime, forcing Assad to yield more concessions.

Currently, Iran generates profits in Syria from maritime shipping, dairy production, and phosphate extraction—profits currently well below the over $30 billion spent propping up Assad for over a decade. However, Tehran has also made tangible progress toward generating profit from the fields of telecommunication, electricity generation, and aviation.

Assad is willing to give them the whole country if that’s what it takes to keep him in power.