Dubai: As financial burdens mount at home, Iran is spending money abroad, prioritising support for close ally President Bashar Al Assad of Syria to maintain what it views as existential strategic interests.
“Syria is an ideological commitment that Iran has locked itself into but it comes at the expense of its domestic needs,” said economist Mehrdad Emadi. “It is a very tough choice.”
There is little reliable data at hand for how much the Islamic Republic spends on its commitments to aid Al Assad in a civil war that has killed 80,000 people over two years. Analysts say the cost of Tehran’s economic and financial aid probably runs into billions of dollars.
“Putting a dollar number on this is close to impossible, but if Qatar really spent more than a billion dollars so far helping the Syrian rebels then Iran’s contribution must be several times greater,” said Emile Hokayem, an analyst at the International Institute for Strategic Studies.
The Islamic Republic offers up to $4 billion (Dh14 billion) in credit to Damascus to ease the pressures from international sanctions, which have devastated Syria’s oil exports, which are much smaller than Iran’s but still important for Al Assad.
Although cautious about discussing the topic, Iranians appear to be increasingly irritated by the extent of their charity. Last October, traders in Tehran’s Grand Bazaar shut their shops and joined impromptu demonstrations, criticising their government’s policies and support for Al Assad.
The rial had lost 40 per cent of its value in a matter of days which brought their business to a standstill.
“As long as there is a single needy person inside Iran, this money should be spent domestically. Iranians are suffering from worsening economic conditions, they should be the priority,” said 32-year-old Alireza, a Tehran resident.
