Moscow already has a strong relationship with Damascus, as it has housed many of its key military assets around the disputed Black Sea. The Kremlin has vowed to step up its activity in the region in order to “yield positive dynamics” at its naval facility in Syria’s second largest city of Tartus. Russian Deputy Foreign Minister, Andrei Borisov, has stated Russia’s intention to strike a lucrative deal at the seaport, which could span almost half a century.
Mr Borisov told the state-run Tass Russian news agency: “My visit has cemented all these agreements.
“We have made considerable progress on that matter and hope that a contract will be signed within a week and the port of Tartus will be used by Russian businesses for 49 years.”
Syrian President Bashar al-Assad confirmed agreements are in place “especially in the sectors of energy, industry and increasing the exchange of trade”.
However, Iran and China are understood to have also held high profile meetings with Damascus in a bid to capitalise on the huge potential of the region once reconstruction begins, after being occupied by Jihadi forces since 2011.
Syria is regarded by many leading nations as a key location due to its close proximity to Europe, Asia and Africa.
Earlier this month, Syrian transport minister Ali Hammoud held talks with China’s ambassador to Damascus, Feng Biao in order to facilitate investment into the territory.
Mr Hammoud “urged the necessity of encouraging and motivating Chinese companies, businessmen and investors to study projects related to the transport sectors including the establishment of a maritime industries city between Tartous and Latakia”, according to the Syrian-Chinese Business Council.
It has also been reported Mr Biao “presented a vision for possible investment in the transport sectors and stressed the need to increase trade exchange with China and its participation in reconstruction, indicating his intention to invite Chinese companies to invest in the next phase”.
Meanwhile, Iran has already signed a number of trade agreement with Syria since the beginning of the year.
The increased presence of Tehran, which has been a close ally of Damascus since the 1979 Islamic Revolution, is likely to anger the US, who has already imposed sanctions on Iran.
Last week the US ramped up tensions, after it officially designated the Iranian Revolutionary Guards as a foreign terrorist organisation.
The group and its linked entities are estimated to control about 20 percent of the Iranian economy, from shipping to banking.
Iranian President Hassan Rouhani condemned the move against the Guards as “abhorrent” during Tehran’s annual military day on Thursday.
Mr Rouhani said: “Insulting the Revolutionary Guards is an insult to all armed forces, and an insult to Iranian great nation.”