Syria has decided to replace the US dollar by the Euro for its deals to cover its overdue exportation, importation and services payments. According to Kuna, the country's Prime Minister, Mohammed Naji Al-Otri issued a notification in this regard to avoid any obstacles the banks overseas might practice within the framework of imposing sanctions on Syria.
Director General of the Commercial Bank of Syria, Dureid Dargham, said in a press release that this move was very important as there are threats from the USA against Syria which would result in complicating the banking procedures and the transfer operations into the country from corresponding banks in Europe.
He added that the notification of the premier comes as a precautionary measure.
Sources claim that this latest Syrian decision was considered an attempt to safeguard the national economy, especially when the American laws stipulate that any financial transactions in the US$ have to pass through the US banking system.
