For over a decade, Syria has relied on Russia to print its currency. This arrangement began after Western sanctions, imposed in response to the Syrian civil war, cut off access to European currency printers. 

Now, Syria is shifting its currency printing operations to the United Arab Emirates (UAE) and Germany. This move reflects Syria’s efforts to rebuild its economy and establish new international partnerships following years of conflict and economic sanctions.

Historical Dependency on Russia for Currency Printing

After the Syrian war began in 2011, the country faced big problems with money printing. Sanctions from the West blocked Syria from using its usual European printing services. To solve this, Syria started printing its money in Russia. This solution helped in the short term but created new problems over time. Many people inside and outside Syria began to question the quality, trust, and control over the currency.

• Post-2011 Currency Crisis: Syria’s economy needed new banknotes to keep going after 2011. Western sanctions made it impossible to print money in Europe. As a result, Syria asked Russia’s state printing company, Goznak, to supply new Syrian Pounds. This partnership gave Syria access to physical cash when the country had no other options.
• Key Moments and Challenges: Over time, Syria kept depending on Russian facilities to print money. But this came with problems. The process often faced delays. Syria sometimes received too much printed money, which pushed prices higher and caused inflation.

The new notes were not always high quality, and fake notes started to appear. People began to lose trust in the Syrian Pound. Many Syrians also felt uncomfortable relying on another country for their own currency. Some regional neighbors viewed Syria’s money as weak or unstable because of its connection to Russia. This damaged both local and international trust in the currency.

Strategic Shift: Why UAE and Germany?

Syria is now planning to print its new currency in the United Arab Emirates and Germany. This marks a major change in policy. For more than a decade, Syria depended on Russia to print money. Now, the country wants to move away from that arrangement. The shift to Germany and the UAE shows that Syria is trying to improve its currency quality, reduce outside control, and rebuild trust in the Syrian Pound.

1. Advanced Technologies and Credibility: Germany has one of the most advanced systems in the world for printing secure money. Its printing companies are known for using high-tech features that prevent counterfeiting. These include special inks, holograms, microprinting, and serial number tracking.

The UAE is also building its reputation in this field. Its printing facilities are modern, and the country is becoming a growing center for finance and innovation in the region.

Syria sees this change as a way to produce stronger and more secure banknotes. Many Syrians have complained about poor-quality notes that tear easily or are easy to copy. By printing in Germany and the UAE, Syria hopes to introduce new, durable designs that are harder to fake and easier to trust.

2. Neutrality and Diversification: Another reason behind this move is political. For years, Syria was tied closely to Russia because it had no other options. Now, it wants to work with more countries and reduce its dependence on any one partner.

Choosing the UAE and Germany sends a clear message: Syria is opening up and trying to balance its foreign ties. This move could help improve relations with both Gulf countries and Western nations.

In early 2025, the European Union and the United States eased some of their sanctions on Syria. This has made it easier for Syria to look beyond Russia and work with new partners.

One major sign of stronger ties is Syria’s recent agreement with DP World, a major UAE company. In that deal, worth $800 million, DP World will help develop the port in Tartus. This shows that economic cooperation between Syria and the UAE is growing stronger. Printing currency in the UAE is another step in that direction.

Security and Trust: Enhancing Banknote Quality

Printing new banknotes is not only about replacing old money. It is also about improving the safety and quality of the currency. Syria has struggled with poor-quality banknotes for years. Now, with plans to print money in the UAE and Germany, the country is hoping to fix many of these problems.

• Current Issues: The current Syrian banknotes have been vulnerable to counterfeiting, rapid wear, and outdated designs, exacerbating public distrust and market instability. By printing currency in the UAE and Germany, Syria aims to introduce modern security features, such as advanced anti-fraud mechanisms, serial tracking, and digital enhancements. These improvements are expected to make counterfeiting more difficult and improve the durability of the notes.
• Perception and Confidence: The introduction of more secure and visually updated banknotes can help restore public confidence in the national currency and signal a more stable, forward-looking economy. The removal of Bashar al-Assad’s image from at least one denomination further reflects a symbolic break from the past and a step toward national reconciliation.

Economic and Political Implications of the Move

Syria’s choice to print its money in the UAE and Germany is not just a financial decision. It also carries major political and economic meaning. This shift reflects deeper changes in Syria’s international relationships and future goals.

Independence from Russia: Ending reliance on Russian currency printing is a clear political statement, asserting greater independence and signaling a shift in Syria’s alliances. Involving Germany and the UAE in currency production could pave the way for broader financial and economic cooperation, including investment and technical assistance.

Potential for New Collaborations: While Russia may seek to retain influence through its military presence and other interests in Syria, this move could provoke diplomatic or economic pushback. However, printing currency in respected global centers enhances Syria’s monetary credibility and may help rebuild trust with Western and Gulf partners, positioning currency production as a tool of soft power and sovereignty.

Printing Costs and Currency Circulation Management

Syria’s decision to print new banknotes in the UAE and Germany comes with financial and logistical challenges. For the transition to succeed, careful planning and strong oversight will be needed.

• Financial Feasibility: Outsourcing currency printing to Germany and the UAE will likely be more expensive than printing in Russia. However, the benefits in terms of security and credibility may outweigh the costs. Effective logistics, including delivery, customs, and domestic distribution, will be essential to ensure the smooth integration of new notes into circulation.
• Redesign and Denominations: The redesigned currency will feature updated notes, with reports indicating the removal of Bashar al-Assad’s image from at least one denomination. This symbolic move reflects the new political era in Syria. To avoid oversupply, inflation, or black-market exploitation, the Central Bank must regulate the issuance of new currency and ensure transparent communication to maintain public trust.
• Lifecycle Management: Effective regulation of the updated currency’s lifecycle will be crucial, especially given Syria’s recent history of liquidity crises and black-market volatility. The Central Bank’s ability to manage these challenges will play a significant role in the success of this currency transition.

Final Thoughts:

Syria’s plan to print its currency in the UAE and Germany marks a significant step toward economic recovery and international reintegration. Beyond the technical aspects of banknote production, this move reflects a bold reorientation of economic alliances, a bid for greater sovereignty, and an effort to restore public trust in the national currency. 

If managed prudently, it could lay the groundwork for deeper international engagement and a more credible, stable monetary future.