Syrian Firm Denies Embezzling 110M

The Syrian Petroleum Company has affirmed that the figures circulating regarding the embezzlement of $110 million are inaccurate. It clarified that this figure is an initial estimate of the extent of the damage during ongoing investigations that have not yet been completed. There are currently no definitive results confirming any actual harm or legal liabilities. The company also pointed out that the oil contracts signed under exceptional and security-sensitive circumstances involve multiple legal procedures; not all of these procedures were conducted voluntarily or without any corruption. Some contracts were awarded through competitive bidding processes according to approved protocols. The company issued a warning against confusing preliminary estimates with confirmed damages, emphasizing that the investigations do not accuse anyone until all judicial and technical procedures are completed. It also outright denied any reports regarding the detention or interrogation of the company's president.

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