New Iranian oil tanker arrives in Syria: media

• An Iranian oil tanker arrived in the Syrian port of Baniyas on Monday.
• It is the third tanker to arrive in recent weeks, according to Tasnim news agency.
• Syria has been ravaged by over a decade of civil war that has cost hydrocarbons sector billions.

An Iranian oil tanker arrived in the Syrian port of Baniyas on Monday, the third in recent weeks, according to the Iranian news agency Tasnim.

According to Tasnim, the Iranian tanker arrived Saturday at the northwestern Syrian port on the Mediterranean, following the establishment of a new line of credit between the two countries.

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On Monday, Syria’s official SANA news agency reported that President Bashar al-Assad had ratified a “new phase” of the credit line agreement.

The deal aims to provide the war-torn country with energy and other supplies needed to make up for its shortfall.

Syria has been ravaged by over a decade of civil war that has cost the hydrocarbons sector tens of billions of dollars.

In July 2015, the Syrian parliament approved an agreement with Iran, under which Syria received a $1 billion credit line.

The agreement followed two similar lines of credit worth $4.6 billion in 2013, allowing Iran to meet Syria’s oil needs.

The agreements have proven critical for both countries, whose economies are struggling as a result of Western sanctions.

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