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Tue May 28, 2013, 11:48 PM

Iran Extends $4-Bln Credit to Syria

BEIRUT, May 28 (RIA Novosti) - Iran has opened two lines of credit totaling $4 billion to help Syria counter the economic impact of a civil war and international sanctions, Syria's government daily Tishreen reported, citing the country’s Central Bank.

Iran’s support is one of the key elements safeguarding the survival of Syria’s embattled regime of President Bashar Assad.

“Iran continues to support Syria, by opening one line of credit worth $1 billion to finance the import of consumer goods and another line of credit worth $3 billion to finance the purchase of oil and oil products,” Tishreen quoted Syria’s Central Bank Governor Adib Mayale as saying.

Mayale said Syria’s economic losses since the beginning of the conflict in March 2011 were estimated at 25 million euros ($32.2 bln).



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