The EU has lifted certain sanctions on Syria, allowing oil to flow from Kurdish regions to Damascus. Kurdish authorities have resumed oil shipments, indicating steps towards national reconciliation amidst ongoing challenges in the oil sector due to years of war and sanctions. Syria’s new oil minister is calling for foreign investment, while analysts view collaboration between the government and Kurdish forces as a path towards resource stability.
The European Union has recently suspended several sanctions against Syria, particularly those affecting energy, banking, and reconstruction. Consequently, oil exports have resumed from Kurdish-controlled regions in the northeast. Kurdish authorities have begun sending oil from their fields to the central government in Damascus, which signifies a notable step towards reconciliation and potential stability in the post-Assad landscape.
In conjunction with this development, Syria’s new oil minister has publicly invited foreign oil companies to resume their operations, as the easing of sanctions opens opportunities for investment. However, the nation’s oil industry remains in disarray due to 14 years of conflict, neglect, and sanctions, making the restoration of production and refining a monumental task.
Additionally, in a strategic maneuver, the newly established government, Hayat Tahrir Al Sham, has negotiated an agreement with Kurdish militias. Analysts suggest that this collaboration may help alleviate the fragmentation and competition for resources that has historically contributed to conflict within Syria. The Syrian Democratic Forces, backed intermittently by the United States, control the northeast region.
As reported, approximately 5,000 barrels of oil per day have begun flowing from Kurdish territories to Damascus since the agreement was reached. This modest quantity of oil is crucial, as it is intended to supply two refineries currently operating under pressing circumstances.
In summary, the resumption of oil exports from Kurdish regions to Damascus marks a crucial development in the Syrian oil sector, following the suspension of certain EU sanctions. Despite the potential for renewed cooperation and stability, the oil industry faces substantial challenges due to prolonged conflict and infrastructural damage. The recent agreements signify hope for improved intergovernmental relations and resource management necessary for national reconciliation.
Original Source: oilprice.com
