Reuters: Syria plans to print money in Germany and UAE instead of Russia
Syria plans to start printing a new currency in the United Arab Emirates and Germany instead of Russia. This was reported to Reuters by three unnamed sources with knowledge of the matter.
It is noted that this demonstrates the "rapid improvement" of relations with Arab Gulf states and Western powers after the US statements on easing sanctions.
Two Syrian financial sources said that the Syrian authorities are negotiating a deal to print currency with UAE-based Oumolat. And Syrian and European officials reported that two companies in Germany have expressed interest in the matter: the state-owned Bundesdruckerei and the private company Giesecke+Devrient.
There is no official confirmation from any party on this issue.
The new Syrian government after the overthrow of the Bashar al-Assad regime, in 2025 began to explore the possibility of printing the currency in Germany and the UAE. Russia, which was one of Assad's key supporters, printed Syrian currency for more than a decade after the EU imposed sanctions and the contract with the European firm was terminated.
- on April 14, Reuters reported that Saudi Arabia plans to pay Syria's debts to the World Bank.
- On April 19, the Pentagon reported that the US wants to reduce the number of troops in Syria to less than 1,000.
- On May 13, The Times, Reuters reported that Syria's head of state may offer Trump a deal on mineral resources for lifting sanctions.
