MAKING SENSE OF SYRIA'S ECONOMY

Karam Shaar Advisory LTD

Syria Mandates USD Payments for UN Fuel Purchases

According to this circular from Syria’s Ministry of Oil, diplomatic missions and international organizations (vis-à-vis the UN) have to pay for their purchases of fuels from now on in USD exclusively. Octane 95 petrol is priced at 1.50 USD per liter ($5.68/gal) for the UN while it sells to the public for 90 cents per liter (6,600 SYP, $3.41/gal).

Why would the regime do that? Because they can.

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