Iran restricts cheap oil supplies to Syria, doubling Damascus price newspaper The Wall Street Journal cites sources familiar with the situation.
According to sources, Tehran asked Damascus to pay upfront for oil and refused requests for new loan delivery.
“In recent weeks, Iranian officials have told their Syrian counterparts that when winter demand peaks, they will have to pay more for additional oil supply, doubling the price to a market rate of more than $70 a barrel,” Iranian officials said. – According to the newspaper on Sunday.
Also, the publication quoted Hamid Hosseini, representative of the Oil, Gas and Petrochemical Products Exporters’ Association in Tehran, saying that Iran itself is now “under pressure” and that “there is no reason to sell Syria at low prices”. ”
In December 2022, Syrian authorities declared a temporary four-day working week in government offices due to severe fuel shortages due to sanctions and the depreciation of the local currency.
Syria consumes about 100,000 barrels of oil a day, but produces only 24,000 barrels. Most of the deposits are either destroyed or outside the control of the country’s government and due to Western sanctions imposed on the country, the delivery of oil and oil products to the country is extremely difficult.