Baghdad, May 3: Iraq has restarted oil exports through the Al-Yaroubiyah border crossing into Syria, marking the first shipment via this route in 14 years. A convoy of 70 tankers entered Syria, heading towards the Banyas refinery located on the Mediterranean coast, as reported by Syria’s state news agency SANA.
Syrian official Firas Rustam, stationed at the Al-Yaroubiyah crossing, stated that the reopening of this crossing after 14 years is a strategic initiative to strengthen economic ties between Iraq and Syria. He added that this would facilitate trade and energy supply more effectively, fostering a long-term partnership between the two nations.
This move comes as Iraq seeks alternative routes for its oil exports due to the closure of the Strait of Hormuz amid rising tensions between the US, Israel, and Iran. The US has also imposed blockades on several Iranian ports, accusing Iran of misconduct.
Meanwhile, Axios reported that the US maritime blockade has resulted in an estimated loss of approximately $4.8 billion (around ₹45,600 crores) in oil revenue for Iran, according to assessments from the US Department of Defense (Pentagon).
The border crossing, known as Rabia in Iraq, was closed following the outbreak of the Syrian civil war in 2011 and was later seized by ISIS in 2014, before being reclaimed by Iraqi Kurdish forces.
Additionally, the Syrian Petroleum Company announced via social media that it has taken significant steps to enhance operational capacity. Following technical and engineering work at the Banyas refinery, approximately 500 Iraqi tankers are now being unloaded daily. These improvements have increased the refinery’s operational capacity by about 30%.