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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.