Shutdown of Syria's Largest Refinery Following Cut in Oil Imports from Iran

The head of Syria's largest oil refinery has announced the cessation of operations at the facility due to the lack of crude oil supplies from the Islamic Republic of Iran. In the past, the majority of Syria's imported oil was sourced from Iran. The Financial Times reported on Thursday, December 29, citing Ibrahim Muslim, the head of the Baniyas oil refinery, that this refinery, which processes between 90,000 to 100,000 barrels of crude oil daily, processed its last oil shipment on Friday, December 23, following the fall of Bashar al-Assad. He also mentioned that individuals close to the new rulers of Syria have indicated that they expect the sanctions imposed on Syria to be lifted, allowing the country to source its oil from non-Iranian resources, and that this refinery would be able to purchase new equipment. While the international community is determining conditions for the new rulers of Syria, Hay'at Tahrir al-Sham has adopted a conciliatory approach in hopes of gaining recognition. The United States, the United Nations, Turkey, and many other countries have designated Hay'at Tahrir al-Sham as a terrorist organization. The U.S. welcomed the 'hopeful' statements from the rebels but stated that they would be judged based on their actions. A senior EU diplomat previously stated that the EU would not lift sanctions against Syria until the new rulers provide guarantees for the protection of minority rights and women and refrain from supporting terrorism. The oil shortage, which is essential for returning to normal life and reviving the economy, is one of the major challenges facing the interim Syrian government. The United States has sanctioned 35 entities and vessels for oil smuggling from Iran, imposed sanctions on a network financing the Quds Force of the Islamic Revolutionary Guard Corps, and sanctioned several companies and vessels for participating in the transfer of Iranian oil and gas. The U.S. also sanctioned a Lebanese network accused of smuggling oil and gas to finance Hezbollah. Oil prices fell following the Islamic Republic's attack on Israel.