The announcement that Syria will shift its currency printing operations from Russia to the United Arab Emirates and Germany is framed by some as a mere logistical adjustment: a matter of money and machinery.
Yet this interpretation misses the deeper geopolitical implications.
This move is not about paper or the implicit assumptions, that come with high calibre investments; it is about trust, legitimacy, and the quiet recalibration of Syria’s strategic alignments across the Middle East and Europe.
Emirati Positionality
As an Emirati, I see Syria’s decision as a milestone in deepening bilateral cooperation and a reflection of a broader regional reset.
For more than a decade, Syria’s economic and political infrastructure was fundamentally dependent on Russia and Iran.
Its banknotes were printed in Russian state facilities. Its financial lifeline came from Moscow. Its survival, both economic and military, was anchored to the Kremlin and Tehran.
That dependency is now being quietly unravelled.
Currency as a Strategic Act
The decision to print a national currency abroad is never taken lightly. It is one of the most sensitive expressions of trust a sovereign state can make.
By selecting the UAE and Germany as its new partners in this process, Syria is signalling a profound strategic shift.
In a region long exhausted by ideological binaries and interventionist rivalries, Abu Dhabi’s measured, multi-vector foreign policy has made it a preferred partner for states seeking stability and reconstruction over perpetual struggle.
Germany’s inclusion also adds legitimacy to the decision and a sprinkle of identity politics as Syria recognises Berlin’s support for Syrian refugees during the war, under former Chancellor Merkel, whilst acknowledging the role Berlin plays in the financial clout of European markets.
Syria’s Repositioning, Long Overdue
This monetary realignment comes at a critical juncture.
Syria’s re-entry into the Arab League preceded the fall of the Assad regime, which collapsed on 8 December last year.
Since then, Damascus has remerged as a player in (non-)Arab diplomacy, seeking a rapprochement with Israel despite Israeli actions in the Golan Heights whilst extending a olive branch to GCC capitals.
Syria’s role is expanding to non-Arab frontiers as the UAE seeks to mediate between Israel and Syria in a gesture of dialogue, as Damascus aims to join onto the Abraham Accords, following Trump’s visit to Riyadh and Abu Dhabi.
Syria’s renewed ties with Saudi Arabia and Qatar are significant—both nations recently forgave Syrian debt totalling up to $15 billion, in coordination with the World Bank. Türkiye, too, is seeking a greater role, requesting military access within northern Syria under new security arrangements.
The UAE, meanwhile, has been offering both logistical and financial expertise, positioning itself as a key player in Syria’s reconstruction. Critics may reduce this involvement to economic opportunism, citing the UAE’s pragmatic foreign policy as devoid of principle.
Yet, printing currency is not an act of outsourcing sovereignty. It is an act of strategic partnership—an expression of institutional trust and geopolitical repositioning.
The move follows high-level diplomatic engagement, including Deputy Minister Abdullah Lootah’s visit to Damascus earlier this month and the April 13 summit between Emirati President Sheikh Mohamed bin Zayed and Syrian President Al-Sharaa in Abu Dhabi.
Abu Dhabi’s Ascendance
Some Western analysts view the UAE’s rising regional influence with scepticism.
Human Rights Watch’s Sarah Leah Whitson has long accused Abu Dhabi of projecting "authoritarian influence abroad." Others outline the UAE’s role in Yemen and alleged support for the RSF in Sudan, painting a picture of militarised statecraft.
Yet these critiques often overlook the broader picture. Emirati foreign policy is not driven by military dominance but by nodes of investment that blend investment and humanitarian aid, in turn translating development projects for political influence.
DP World’s recent $1 billion expansion of London Gateway underscores this logic: growth-oriented, commercially sound, and geographically diversified soft power.
In this context, Syria’s decision to print currency in the UAE is not about domination or covert influence unlike Russia and Iran.
It is about reconstruction through multipolarity. It is about forging new alliances through institutionalised agreements, embedded in technical expertise. Leading Emirati logistics firms, such as DP World, AD Ports, and UAE giant Emirates, epitomise this strategy.
A recent $800million agreement with Dubai-based logistics giant, DP World, to develop Tartus port demonstrates the blend of technical expertise as a driving node of Emirati foreign policy.
Re-diversifying Alliances
Syria’s pivot reflects a broader strategic logic: diversification.
Damascus is no longer placing all its geopolitical eggs at the door of the Kremlin. Instead, it is spreading risk and reward across trusted partners who can deliver capital, expertise, and legitimacy.
Germany’s inclusion is particularly symbolic.
A country that took in nearly a million Syrian refugees during the war is now helping reprint the physical symbol of Syria’s post-war identity.
The UAE brings infrastructure, discretion, and connectivity whilst Germany brings credibility and institutional depth.
Together, they reflect Syria’s new strategy: a balanced approach to international relations without risk and assurances of reconstruction, stability, and mediation.
A Currency of Trust
The printing of Syrian currency in Abu Dhabi and Berlin is a watershed moment—not only in monetary terms but in geopolitics.
It represents a quiet shift in how Syria sees the world, its neighbours, and how the world, increasingly, sees Syria.
As Syria prints its new identity, the region is witnessing more than a financial transaction.
Damascus is watching the emergence of a new order in the Levant, following the removal of Iranian proxies, one in which a new Syria seeks reconstruction, stability, and mediation alongside trusted partners.
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