The EU has lifted some sanctions against Syria, enabling oil flow from Kurdish regions to Damascus. This development suggests potential reconciliation and stability in post-Assad Syria. Syria’s new oil minister is urging foreign companies to return, although the industry remains critically damaged after years of conflict. An agreement between the new government and Kurdish militias offers hope for improved resource management.

The European Union has recently lifted selective sanctions against Syria, particularly those concerning energy, banking, and reconstruction. This lift has allowed oil to begin flowing from Kurdish-controlled regions in the northeast back to the central government in Damascus. This development signals a potential step toward reconciliation and stability in Syria post-Assad’s rule.

In tandem with this oil flow, Syria’s new Minister of Oil has invited foreign oil companies to resume operations now that certain sanctions have been softened. Nonetheless, the oil sector is critically damaged following 14 years of war, neglect, and sanctions, making any substantial increase in production and refining a formidable challenge. Meanwhile, the government of Damascus is seeking new import tenders in collaboration with local intermediaries to secure supply.

A recent agreement between Syria’s government, led by Hayat Tahrir Al Sham, and Kurdish militias suggests a possible way to mend the fragmentation and competition for resources that has fueled conflict in the country. The Kurdish-led Syrian Democratic Forces, although backed by the United States selectively, control the northeast, which is vital for oil production. As reported by Arab sources, approximately 5,000 barrels of oil per day have been transported from the Kurds to Damascus since this past Sunday, supporting two refineries in the effort to stabilize the oil supply.

In summary, the easing of EU sanctions has revitalized oil flow from Kurdish regions to Damascus, marking a significant move toward reconciliation in Syria. The new oil minister’s call for foreign investment highlights the urgent need to rebuild a decimated industry. However, the ongoing challenges due to war and neglect present substantial hurdles to restoring the oil sector to its former capacity.

Original Source: oilprice.com