Syria Not Affected by Sanctions Says Minister

Syria's Finance Minister Mohammad al-Jleilati said Wednesday the economic sanctions imposed on Syria will not have any impact on the country’s economy.

He was referring to the European Union’s decision to impose new economic sanctions on the country for its continuing brutal crackdown on protestors.

However the finance minister said the demand for foreign imports is still being met with other countries.

"Despite all that's happening, Syria has promised importers and businessmen that it will guarantee their demands from foreign markets, whatever they need to secure their business to keep their factories and businesses running, across all industries. Manufacturing in Syria hasn't stopped. Of course we prefer there not be sanctions but the sanctions won't affect Syria, and it will remain standing on its feet," said Jlaeilati at a conference in Abu Dhabi, United Arab Emirates.

His statement came a day after French Foreign Minister Alain Juppé said a new set of sanctions would be issued against Syria to target economic entities.

"We have a strategic amount of reserve of wheat and other foods that will meet Syria's supply demands for the next few years. Syrian factories, be they in public or private sectors, use primary foods produced locally and so if Europe wouldn't supply our demands for some goods that are essential to some industries, we will go to other countries and we won't have any difficulty doing that," Jleilati said.


The minister also said that Syria was looking to sell oil it can no longer export to Europe to Russia, China and other non-Arab countries.

According to the United Nations more than 2,200 people have been killed since the crackdown on protestors began in March.

Speaker:

Mohammed al-Jleilati - Syria's finance minister

Voice:

Husam Jubali