Syria Terminates Russian Port Management Deal, Reverts Control to State

Syria has terminated a 49-year investment agreement with the Russian company STG Stroytransgaz regarding the management of the Tartous port, which was signed in 2019. This decision, attributed to unfulfilled commitments by the Russian firm, comes in the wake of regime changes after the ousting of Bashar al-Assad. The new Syrian authorities have stated that all revenues from the port will now benefit the Syrian state, reversing the previous profit-sharing arrangement that favored Russia. Port operations are set to be restructured, with a significant reduction in customs duties to rejuvenate traffic, as the port had been nearly non-functional due to high service tariffs. Additionally, the Syrian government has imposed bans on imports from Russia, Iran, and Israel, indicating a shift in foreign relations. Moscow has yet to respond to these developments, which signal a potential decline in Russian influence in the region.