Syria issues first letter of credit to Saudi Aramco in 14 years - The Jerusalem Post
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- Arabic title
- سوريا تُصدر أول خطاب اعتماد لأرامكو السعودية منذ 14 عامًا
- English title
- Syria issues first letter of credit to Saudi Aramco in 14 years - The Jerusalem Post
- Published
- UTC
- Topic
- Economy
From the text
Syria's central bank said on Sunday it issued its first letter of credit in 14 years to facilitate a petroleum products supply deal between the Syrian Petroleum Company and Saudi Aramco (2222.SE).The bank said the transaction was arranged in coordination with a major US bank, which it did not name, opening a channel to finance oil imports and settle payments through the formal banking system.The move marks a step toward restoring Syria's access to international banking channels following the removal of US sanctions and its designation as a state sponsor of terrorism.Saudi Arabia's energy minis…source ↗