Levant in February 2026: the most important developments in economy
In February 2026, the Levant's main economic story was investment in Syria. On 7 February Saudi Arabia and Syria signed a series of agreements worth billions of dollars, including a joint airline, telecommunications projects, a phased $2 billion development of Aleppo's airports, and the activation of banking transfer channels between the two countries.
Syria made other economic changes during the month. It handed the largest oil fields in Hasakah over for rehabilitation, and it replaced about a third of the cash in circulation within weeks of introducing a new currency. The European Union was set to overhaul its sanctions regime against Syria. Damascus imposed transport restrictions that affected Syrian-Jordanian trade.
In Lebanon, Saad Hariri pledged reconstruction during a visit to southern towns heavily damaged in recent hostilities, and Hezbollah said it would not wait for an Israeli withdrawal to begin rebuilding there. Lebanon agreed with Russia to restore economic ties, while Kuwait imposed sanctions on eight Lebanese hospitals. Building collapses in northern Lebanon killed between nine and fifteen people and raised warnings about structural neglect. Toward the end of the month Lebanon was considering selling part of its $45 billion in central bank gold reserves to rescue its banking sector, and new tax hikes drew public anger.
by WorldBrief & Maksim Micheliov | AI-generated summary
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