Syria to repay debt to Russia in euros - government
MOSCOW. Jan 17 (Interfax) - Syria will repay its Soviet era debt to Russia in euros, the Russian government said on Thursday.

The government approved a draft law "On the Ratification of the Intergovernmental Agreement on the Repayment of Former Soviet Loans of May 29, 2005, and the Addendum to the Agreement of January 17, 2007."

Syria informed Russia in early 2006 that it wished to conduct international banking transactions in euros and offered to sign intergovernmental agreements to that effect. Syria explained the decision by the possible freezing of its accounts in U.S. dollars, because of U.S. economic sanctions.

The addendum stipulates the switch from dollars to euros in bilateral settlements. The annual transfers by Syria to the Russian federal budget are equivalent to $150 million.

The federal budget will also receive Syrian pounds transferred to the Russian account at the Syrian Central Bank in payment for debt. The Russian government will soon make the related decision.

The agreement and the addendum must be ratified by the State Duma in keeping with the Russian Budget Code. te md

http://www.interfax.ru/e/B/finances/26.html?id_issue=11947377



Bush – Olmert: the Syrian coast blockade

The Russian decision today to accept the Syrian debt in Euro rather than Dollar… preparing for the possibility of freezing Syrian assets in Dollar confirms the information below.

Reported by manar newspaper today, Olmert and Bush discussed the possibility of imposing a blockade on the Syrian coast, both decided to launch a campaign unconventional Syria armament capabilities, in order to start imposing a blockade on the Syrian coast.

In case you wondered why “Blockade the Syrian coast”, then this is the answer: missile carrier takes part in big Russian navy maneuver starting in Mediterranean.

This was the three hours unannounced Bush’s meeting with Siniora, Harriri (Lebanon) and Jordan’s King Abdullah II in Jordan all about as reported on Al Akhbar today

http://www.roadstoiraq.com/2008/01/17/bush-%E2%80%93-olmert-blockade-the-syrian-coast/