Syria will exhaust its foreign currency reserves in three to five months, sparking crisis in an economy reeling from sanctions over its crackdown on protests, a Western diplomat said Wednesday…. “Foreign reserves are down, probably haemorrhaging up to $3 billion (2.3 billion euros) a month,” the diplomat told reporters in London….
The embattled regime of President Bashar al-Assad is also being squeezed by European Union oil and arms embargoes and the EU is currently planning a fresh set of penalties.
