LONDON: The energy price crisis in the area has highlighted Damascus’s importance as a transit center, since Iraq is sending oil to international markets via Syria’s Baniyas oil port. Earlier today, 299 oil-carrying trucks laden with petroleum from Iraq started crossing into Syria late Wednesday through the Al-Tanf border crossing. They will be heading to their energy hub on the Mediterranean coast to transfer the oil to tankers, according to the Syrian Petroleum Company.
Twenty percent of the world’s oil supplies have been impacted and worldwide energy markets have been affected as a result of the US and Israeli military operation against Iran that began in late February.
The project will assist stabilize regional energy markets and boost Syria’s role as a Mediterranean gateway for oil transport, according to Safwan Sheikh Ahmad, the company’s director of corporate communications. The Syrian and Iraqi border crossings at Al-Tanf and Al-Waleed were reopened on Tuesday in an effort to strengthen economic ties between the two nations.
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