New Iranian oil tanker arrives in Syria: Iranian media

New Iranian oil tanker arrives in Syria: Iranian media
2 min read
The Iranian tanker arrived on Saturday at the northwestern Syrian port on the Mediterranean, following the opening of a new line of credit between the two countries, according to Iranian media reports.
The tanker arrived after the two countries opened a new line of credit between them [Getty]

An Iranian oil tanker has arrived at the Syrian port of Baniyas, the third in recent weeks, the Iranian news agency Tasnim reported on Monday.

The Iranian tanker arrived on Saturday at the northwestern Syrian port on the Mediterranean, following the opening of a new line of credit between the two countries, Tasnim said.

On Monday, Syria's official SANA news agency reported that President Bashar al-Assad had ratified a "new phase" of the credit line agreement.

The deal aims to provide the Syrian regime with energy and other supplies needed to make up for its shortfall.

The Syrian regime, with the help of Iran-aligned militias, has waged a brutal decade-long civil war that has killed hundreds of thousands of people and cost the hydrocarbons sector tens of billions of dollars. 

In July 2015, the Syrian parliament approved an agreement with Iran, under which Syria received a $1 billion credit line.

The deal came after two similar lines of credit in 2013 worth $4.6 billion in total, allowing Iran to provide Syria's oil needs.

The agreements have proven crucial for both countries as their economies struggle under stringent Western sanctions.