Syria-Russia trade up 58 percent

Two-way trade between Syria and Russia jumped 58 percent last year, climbing to $1.97 billion, with the balance heavily in favour of Moscow, the Russian embassy said on Tuesday.

“The total trade rose from $1.15 billion in 2010 to $1.97 billion last year, a 58 percent increase,” Roman Groshkov, secretary of the commercial and economic section at the embassy, told AFP.

In 2011, Russian exports to Syria were estimated at $1.92 billion, he said, adding they included heating fuel and other petroleum products as well as timber, grains, ferrous metals, electrical equipment, transport vehicles and power tools.

Syria’s exports to Russia last year amounted to $48.9 million, compared to $42.5 million in 2010.

“The sanctions announced by the West and Gulf countries have affected our trade,” Mikhail Medvedev, economic counsellor at the embassy, told Al-Watan newspaper, adding the two states faced obstacles in paying each other.

Syria’s long-time ally Russia has twice blocked UN Security Council resolutions to condemn the crackdown on protests against President Bashar al-Assad’s regime that activists say has cost more than 6,000 lives since March.