UAE president to visit Russia to help reach ‘political solutions’ to Ukraine crisis
UAE calls for diplomacy, dialogue, and respect for international law
Bilateral talks will address the latest developments related to the crisis in Ukraine
Updated 10 October 2022
Arab News
DUBAI: The UAE’s President Sheikh Mohamed bin Zayed will travel to Russia to meet with President Vladimir Putin on Tuesday, Emirates News Agency has reported.
The UAE’s foreign ministry said the visit to Russia aims to help reach “effective political solutions” to the Ukrainian crisis.
The Gulf country “seeks to achieve positive results to reduce military escalation, reduce humanitarian repercussions, and reach a political settlement to achieve global peace and security,” the ministry said.
Bilateral talks will address the latest developments related to the crisis in Ukraine, the ministry added.
The UAE called for diplomacy, dialogue, and respect for the rules and principles of international law.
During the visit, Sheikh Mohamed and President Putin will also discuss bilateral ties and friendly relations between their countries, as well as several regional and international issues of common interest.
Tuesday’s Russia visit will be Sheikh Mohamed’s third foreign trip since officially taking the reins as president.
Syria announces new currency framework, 2-zero redenomination
Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound
Governor calls move ‘pivotal milestone within a comprehensive strategy’
Updated 29 December 2025
SANA
DAMASCUS: Syria’s Central Bank announced executive instructions on Sunday to introduce a new Syrian currency, launching a monetary reform that includes removing two zeros from the pound and allowing a 90-day period of dual circulation.
The announcement was made during a press conference at the bank’s headquarters in Damascus.
Central Bank Gov. Abdulkader Husrieh said the step was part of a comprehensive institutional strategy to restore confidence and achieve sustainable economic stability.
He said: “The launch of the new currency is not a formal measure, but a pivotal milestone within a comprehensive strategy based on solid institutional foundations.”
Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound. The old and new currencies will circulate together for 90 days, a period which may be extended.
All bank balances will be converted to the new currency at the beginning of next year, while the overall money supply will be maintained without increase or reduction.
An employee at a currency exchange shop stacks Syrian bills at a shop in Damascus. The old currency is expected to be taken out of the market in the next few months. (AFP file photo)
Husrieh said the economic strategy was based on five pillars: monetary stability, a stable and transparent foreign-exchange market, effective and accountable financial institutions, secure digital transformation, and balanced international economic relations.
He said the move required updating financial laws and regulations, improving data systems, keeping pace with global digital developments, and ensuring sustainable financing and training for the financial sector.
The currency exchange will be provided free of charge, with no commissions, fees, or taxes.
All public and private entities must apply the official conversion standard to prices, salaries, wages, and financial obligations. Official exchange-rate bulletins will be issued in both currencies to ensure transparency and prevent speculation.
The governor said the central bank was closely monitoring markets to stabilize the exchange rate and would supply Syrian pounds if demand for foreign currency rises, adding that citizens will feel the impact more clearly after the exchange process is completed.
“Our policy is financial discipline, with no room for inflation,” Husrieh added.
He confirmed that the decree regulating the exchange limits the process to Syrian territory, and said the measures fell within the bank’s 2026-2030 strategy to align with international standards.
The new banknotes, he added, were being printed by leading international companies to prevent counterfeiting.
