Syria: Syria’s new authorities have terminated an investment contract regarding the management of the Tartus seaport, which was concluded with a Russian company in 2019, said a senior Syrian customs official.
According to Azeri-Press News Agency, the agreement on investment into the port of Tartus, signed with Russia’s Stroytransgas company, has been annulled. Tartus province customs department chief Riad Judi announced that all incomes from the port’s activities will be directed to Syria’s interests.
The 49-year-long agreement was initially signed between the Syrian government and Stroytransgas, with the Russian company expected to manage the port and invest over $500 million into its modernization. Tartus is Syria’s second largest seaport and houses Russia’s logistics naval base. The Soviet Union established a base there in 1971 based on a bilateral agreement.
A source informed TASS last December that Russia was negotiating with the new Syrian authorities to maintain its two military bases in the country. Moscow has secured temporary security guarantees, allowing the bases to continue operating normally.