In Lebanon, talk of smuggling into Syria has returned with the collapse of the Syrian pound against the dollar and the suffering of many Syrian villages and towns from the shortage of petroleum derivatives, the prices of which have soared.
However, what is remarkable about the return of smuggling is the clear announcement of a few days ago by the Banque du Liban, “that the increase in the exchange rate of the US dollar during the festive period is the result of speculative and smuggling operations of dollars outside the borders”.
Although the statement did not explicitly name Syria, in recent days press reports have raised the issue of dollar smuggling from Lebanon to Syria in the context of refuting the reasons for the crazy increase in the black market dollar exchange rate during the holiday period. crossing the threshold of 47 thousand pounds.
Former deputy governor of the Banque du Liban, Muhammad Baasiri, told Al-Arabiya.net: “What is meant by the smuggling of dollars into Syria is that the Syrian merchants went to the Chtaura region in the Bekaa valley near the Syrian border, carrying large quantities of Syrian currency to be exchanged for dollars”.
He explained: “Every US dollar today equals about 7,000 Syrian pounds, so the Syrian trader comes along and offers the Lebanese money changer in the Chtoura region to buy the Syrian pound cheaper, after which the money changer sells it to Syrian workers in Lebanon at a higher price”.
Baasiri stressed that “Syria is subject to an economic blockade, and therefore Lebanon is geographically closer to it to obtain dollars. Therefore, the Lebanese economy has finally become a ‘financial’ part of the Syrian economy.”
Smuggling dollars in cars
According to informed sources who spoke to Al-Arabiya.net, “the history of ‘smuggling’ dollars into Syria is not limited to the Chtoura region of the Bekaa Valley, which includes a large number of money changers, most of which are affiliated with Hezbollah. Also includes the Lebanese border areas in northern Lebanon, where they are active.” “Smuggling” of dollars in large quantities into Syria.
The sources contented themselves with saying: “Dollar amounts are transferred from Lebanon to Syria through border crossings in northern Lebanon, in private cars with tinted windows that are not subject to inspection, and their owners have obtained “facility” for the entrance and exit.
Central Bank of Lebanon (archive from France Press)
Syrian pounds in Lebanon
For his part, the former head of the Banking Control Commission, Samir Hammoud, told Al-Arabiya.net that “the main question in this affair is why is there a ‘demand’ to buy Syrian currency in Lebanon? Simply because there are thousands of Syrians in Lebanon who buy the Syrian pound from Lebanon to send to their families in Syria.
The representative of the Progressive Socialist Party, Hadi Abu Al-Hassan, was the first to raise the issue of “smuggling” the dollar outside the borders. He said on his Twitter account: “The dollar is being smuggled into Syria by smuggling gangs and its price has skyrocketed unchecked. Instead of being distracted by political controversies and judicial fabrications, do your duty by prosecuting these gangs and stop them.” .
He told Al-Arabiya.net: “A large bag loaded with dollars has finally left the Chtaura market for money changers to go to Syria, eyewitnesses told us.”
He added: “There are Lebanese money changers who buy Syrian currency cheap and then sell it at double the price. They also buy smuggled goods from Syria (poultry and vegetables…) in dollars to compete with local industries.”
Wasting $20 billion of reserves
Abu Al-Hassan indicated: “Over the past three years, we have wasted $20 billion from the reserves of the Banque du Liban to support goods and commodities smuggled into Syria. Today, following the worsening crisis afflicting Syria and as a following the blockade the need for hard currency has increased, thus resorting to the Lebanese market to obtain dollars despite the Lebanese needing them.
In parallel with the talk of dollar “smuggling”, the phenomenon of fuel smuggling to Syria has regained momentum, with the petrol plate reaching the limits of 44 dollars, against 19 dollars a plate in Lebanon, due to the increase of the dollar against the Syrian pound from 4,500 to about 700 Syrian pounds.
A member of the Syndicate of Station Owners, Georges Al-Barakis, told Al-Arabiya.net: “The price of a tank of diesel in Syria is $38 compared to $18 in Lebanon, while the price of a tank of gasoline in Syria is about $46 compared to $19 in Lebanon, meaning smugglers make big profits.”
He added: “According to our information, the amount of fuel smuggling from Lebanon to Syria is still not large, and it has become active again in the past two weeks.”
For his part, one of the citizens who visits Syria weekly told Al-Arabiya.net: “Between the Lebanese point of Masnaa and the Syrian border, Lebanese cars are lined up on both sides of the roads to sell liters of petrol and diesel.”
