Syria intends to print the currency in the Emirates and Germany instead of Russia

3 sources told “Reuters” that Syria is planning to print the currency in the Emirates and Germany instead of Russia, in a move that came after an American promise to lift the sanctions, giving Damascus new opportunities. The sources said that the banknotes will be printed with a new design, while removing the image of former Syrian President Bashar al -Assad from some groups of the Syrian pound.

The Syrian authorities began exploring the possibility of printing the currency in the Emirates and Germany earlier this year, and efforts gained momentum after the European Union reduced some of its sanctions on Damascus last February.

The new rulers of Syria are trying to move quickly to renew a faltering economy, after 13 years of war, and the situation has recently exacerbated due to the lack of banknotes.

Russia, one of the most prominent supporters of the Assad regime, was printing the Syrian currency during more than a decade of the war, after the European Union imposed sanctions that ended a contract with a European company.

On Thursday, Damascus signed an initial deal of $ 800 million with the UAE “Dubai Ports” company to develop the port of Tartous.

The deal includes the development, management and operation of a multi -purpose station in the port of Tartous, which contributes to raising the efficiency of the port, increasing its operational capacity and enhancing its role as a pivotal center for regional and international trade movement.

The two sides also agreed to cooperate in establishing industrial areas and free zones, in addition to dry ports and transit stations for goods in a number of strategic areas inside Syria.