By: Arab news

Saudi Arabia has granted the Syrian Arab Republic 1.65 million barrels of crude oil under the directives of King Salman and Crown Prince Mohammed bin Salman. 

The donation was formalized through a memorandum of understanding signed by Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, and Mohammed Al-Bashir, Syria’s Minister of Energy, the Saudi Press Agency reported.  

The signing ceremony was attended by Saudi Ambassador to Syria Faisal Al-Majfel and Majid Al-Uteibi, deputy minister for Oil and Gas Technical and Regulatory Affairs. 

The move reflects Saudi Arabia’s commitment to supporting the Syrian people and the strong ties between the two countries. 

“The grant will contribute to enhancing the operation of Syrian refineries and achieving operational and financial sustainability, supporting economic development and addressing economic challenges in Syria, ensuring the growth of vital sectors, and supporting national and international efforts to achieve sustainable development goals,” the SPA report said. 

Furthermore, the donation aligns with and supports broader national and international efforts aimed at achieving the UN Sustainable Development Goals in the region. 

Saudi Arabia is now leading a concerted effort to bring Damascus back into the Arab fold after a decade of economic isolation, a crippled currency, and shattered infrastructure. 

Following the 2024 reopening of its embassy, Saudi Arabia, alongside Qatar, settled Syria’s World Bank debt, unlocking access to vital international funding. 

This momentum continued with the recent Syrian-Saudi Investment Forum, where Saudi Investment Minister Khalid Al-Falih unveiled 47 agreements worth $6.4 billion, targeting key sectors of a modern economy. 

In addition to the oil grant, Saudi Arabia earlier this week announced a new reconstruction project in Damascus to clear rubble and aid rebuilding efforts, further strengthening ties with the Syrian authorities.  

The King Salman Humanitarian Aid and Relief Centre said it would provide an aid package to remove an estimated 75,000 cubic metres of rubble from the capital and surrounding areas. 

The aid will also support the rebuilding of 34 schools in Aleppo, Idlib, and Homs, the reconstruction of dozens of bakeries, and the rehabilitation of sewage and water infrastructure in Damascus.