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Cancellation of the Tartus Port Investment Agreement with the Russian Company - The Syrian Observer

  • Syria has canceled a 49-year investment agreement with Russia's Stroytransgaz for managing Tartus port, as reported by Kommersant.
  • The agreement, signed in 2019, involved over $500 million for port modernization, according to former Transport Minister Ali Hammoud.
  • All revenue from the port's operations will now benefit the Syrian state, as stated by Riad Joudi, head of customs in Tartus.
  • The cancellation follows the fall of Bashar al-Assad's regime, significantly reducing Russia's influence in Syria, according to Important Stories.
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