Russia Loses Key Naval Base In Syria After 49-Year Port Lease Agreement Cancelled

Syria’s new government has cancelled the 49-year investment agreement with Russia regarding the management of the Tartus Port. This means that all revenues from the port’s operations will now go directly to the Syrian state.

The agreement, signed in 2019, required Russia’s Stroytransgas company to invest at least $500 million to modernise the port. However, Syrian officials have said that Russia did not fulfil its investment commitments.

Riyad Joudi, the Director of Tartus Customs, confirmed that the port had been underutilised due to high service fees and regulatory issues.

The government is now working on restructuring the port to improve its operations. This includes revising laws and procedures, with the help of multiple ministries like transport and foreign trade, to make the port more efficient.

Tartus Port has been an important locatio…

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