Saudi Arabia Grants 1.65 Million Barrels of Crude Oil to Syria to Support Economic Development

Riyadh, The Gulf Observer: Saudi Arabia, through the Saudi Fund for Development (SFD), has extended a grant to supply Syria with 1,650,000 barrels of crude oil, in line with the directives of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Crown Prince and Prime Minister Mohammed bin Salman.

A memorandum of understanding was signed between SFD CEO Sultan Al-Marshad and Syrian Minister of Energy Mohammed Al Bashir to formalize the agreement. The grant is intended to enhance the operations of Syrian refineries, strengthen operational and financial sustainability, and contribute to the country’s economic stability.

According to SFD, the initiative aims to support economic development, address ongoing challenges, promote the growth of key sectors, and align with broader sustainable development goals.

The Kingdom underscored that the grant reflects Saudi Arabia’s ongoing efforts to improve the living conditions of the Syrian people, building on the historical ties and close relations between the two nations.