The Wall Street Journal: Iran restricts cheap oil supplies to Syria

The American Wall Street Journal reported, citing informed sources, that Iran intends to limit the supply of cheap oil to Syria.

The newspaper indicates, according to sources, that Tehran asked Damascus to pay the price of oil in advance, rejecting new requests for supplies on credit.

The newspaper said that Iranian officials recently told their Syrian counterparts that they would have to pay more for additional oil supplies due to peak demand in the winter season and told them to double the price, bringing the market price to more than $70. barrel.

In addition, the newspaper quoted Hamid Hosseini, a spokesman for the Association of Oil, Gas and Petrochemical Exporters in Tehran, as saying that Iran itself is now “under pressure” and that “there is no reason to sell it to Syria at low prices.” “

In December 2022, the Syrian authorities announced a temporary reduction in the working week to four days in state institutions amid an acute shortage of fuel due to sanctions and a depreciation of the local currency.

Syria consumes about 100,000 barrels of oil per day, but produces only 24,000. Many fields have been destroyed or are out of state control, and Western sanctions imposed on the country have greatly hampered the export of oil and petroleum products.

Source: RIA Novosti