Syria has terminated the investment agreement between a Russian company and the port of Tartus, which was supposed to be in effect for 49 years.
This was reported to the publication al-Watan by Riyad Joudi, the director of the Tartus Customs.
The Fall of Assad's Regime: What Losses Russia Sustained Due to Defeat in SyriaThe collapse of Assad's regime in Syria has become one of Russia's most significant geopolitical defeats. More details can be found in the infographic. “All revenue from port activities will now be directed for the benefit of the Syrian state. Workers employed at the port will return under the management of the Syrian side,” Joudi stated.
He noted that outdated mechanisms used by the Russian company, which had not been modernized as stipulated in the contract, would be restored in the port.
In 2019, Russian Deputy Prime Minister Yuri Borisov announced that Russia and Syria had agreed to lease the port of Tartus to the company "Stroitransgaz" for 49 years, with an investment of 500 million dollars planned for its development.
As highlighted by the Russian publication “Important Stories,” the logistical point in Tartus is the only one for Russia in the Mediterranean Sea and holds strategic significance for the Kremlin, especially following the onset of the full-scale war against Ukraine. Early December OSINT analysts discovered that Russians had begun withdrawing their ships from there.
Recall that in December, media reported that Russia is striving to maintain its Syrian bases and is already negotiating with the new authorities, particularly regarding the naval port in Tartus and the Khmeimim airbase.
The new leader of Syria, Ahmed al-Sharaa, expressed that he would not like to damage relations with Russia.
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