Syria has entered into an $800 million memorandum of understanding (MoU) with Dubai World to develop, manage, and operate a multi-purpose terminal at the port of Tartous, marking a significant shift in the nation's maritime infrastructure strategy.
The agreement, announced by Syria's Land and Sea Ports General Authority, signifies a move towards diversifying foreign partnerships and revitalizing the country's port facilities. This development follows the recent cancellation of a 2019 contract with Russian firm STG Stroytransgaz, which was terminated due to the company's failure to fulfill its investment commitments, including necessary infrastructure upgrades.
The new collaboration with Dubai World is expected to enhance Tartous Port's operational capacity, improve logistics services, and boost trade activities, contributing to Syria's broader economic recovery efforts. By engaging with international partners, Syria aims to modernize its port infrastructure and reestablish its position in regional maritime commerce
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Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
Flights at Catania airport in Sicily will remain suspended until early Friday as ash from Mount Etna continues to disrupt air travel, following hundreds of cancellations and diversions over the past week.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12th of August, covering the latest developments.
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Russia has accused Ukraine of threatening global grain supplies after recent strikes on Black Sea agricultural infrastructure, while Moscow carried out a new overnight attack on Ukraine’s major Danube port of Izmail.
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