Russia Denies Syria $1bn

Russia rejected a request from the beleaguered Syrian government for a $1bn loan at a recent meeting of the joint committee between the two countries: Russian Deputy PM Dmitry Rogozin said only that “the request of a loan to Syria needs further study.”

An agreement was signed in May with Russia to facilitate the extension of financial aid to Syria in the form of a credit line to allow for imports of essential goods. Damascus was hoping to obtain a new credit line from Russia in order to finance imports of essential goods.

The committee discussed means to fund commercial exchanges, facilitate the export of Syrian goods to Russia and simplify customs procedures, Syrian Economy Minister Humam al-Jazairi says. A joint working group will also be formed to prepare feasibility studies for possible reconstruction and infrastructure projects to be implemented by Russian companies. (CONTINUED - 384 WORDS)