Syria Signs First-Ever Offshore Oil Deal, with Russia

Syria has signed an agreement with Russian oil and gas company SoyuzNefteGaz for joint oil exploration off the Mediterranean coast, in Syria’s part of the prolific Levant Basin, according to Syrian, Russian and Iranian state news agencies.

The contract will enter into effect immediately despite US and European sanctions against Syria, where opposition forces and Islamist groups remain in control of onshore oilfields and production has diminished, with exports halted.

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