International

Syria Says it Will Ration Fuel as Economic Toll of Suez Canal Blockage Grows

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Virtually every container ship making the journey from factories in Asia to consumer markets in Europe passes through the channel. So do tankers laden with oil and natural gas.

The shutdown of the canal is affecting as much as 15 percent of the world’s container shipping capacity, according to Moody’s Investor Service, leading to delays at ports around the globe. Tankers carrying 9.8 million barrels of crude, about a tenth of a day’s global consumption, are now waiting to enter the canal, estimates Kpler, a firm that tracks petroleum shipping.

The Syrian Ministry of Petroleum and Mineral Resources said the blockage of the canal had “hindered the oil supplies to Syria and delayed arrival of a tanker carrying oil and oil derivations to Syria.”

The rationing was needed, the ministry said in a statement, “in order to guarantee the continued supply of basic services to Syrians such as bakeries, hospitals, water stations, communication centers, and other vital institutions.”

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Janice Hill

Janice is a Co-Founder of NetDebaito Official & a family member of Brit Media 360. Our News HUB aiming to bring relevant and unaltered news to the general public with a specific viewpoint for each story catered. Every project is a proficient journalisms' who holds a reputable portfolio with proficiency in content analysis and research.

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