UPDATED 7:38 AM PT — Tuesday, January 29, 2019
Iran and Syria have signed a deal for long term economic cooperation. The agreement, struck on Monday, will expand Tehran’s role in Syria in exchange for Iran helping President Bashar al-Assad win back large amounts of territory.
Under the new deal, Iran will help Syria by investing in its power plants, ports and businesses, which could prove profitable for Tehran.
Assad is looking at his allies in Iran, China and Russia to rebuild almost $400 billion worth of infrastructure that was destroyed during the war.
“We’d like to tell nations around the world that Iran and Syria’s relations will support regional and global peace,” said Iran’s First Vice President Eshaq Jahangiri Kouhshahi. “We hope the economic ties of our two nations can be as strong as our political ties.”
The new economic deal will likely be denounced by Israel, which has stepped up efforts in recent weeks to keep any long-term Iranian military presence out of Syria.