Uncertainty In Syria Keeping Investors On Edge

syriU.S. equities managed to finish modestly higher in trading on Wednesday, reversing two days of losses from concerns about a chemical weapons attack that was carried out last week in the suburbs of northeast Damascus Syria and the growing prospect of a military intervention led by the United States and its allies.

Although President Obama said on Wednesday said that he has not made a decision about attacking Syria in response to last week’s chemical attack, he told PBS Newshour that the United States has already concluded that the Syrian government was responsible for carrying out the chemical weapons attack that killed over 300 Syrians and injured thousands more.

“We do not believe that, given the delivery systems, using rockets, that the opposition could have carried out these attacks. We have concluded that the Syrian government in fact carried these out,” Obama said on “NewsHour.”

“And if that’s so, then there need to be international consequences,” the president emphasized.

During the past few days, U.N. inspectors have been investigating the attack sites where chemical missiles were deployed against a mostly civilian population that is known to have allegiances with anti-government opposition forces.

Although the Syrian government is known to have one of large stockpiles of stored chemical weapons in the world, government leaders in Syria have denied that they were responsible for carrying out the attacks and blamed anti-government opposition groups.

Anti-government opposition groups in Syria are largely unorganized and consist of disparate armed factions that are opposed to the al-Assad regime controlling the Syrian government.

President Obama said on Wednesday that the United States does not accept the Syrian government’s claim that Syrian government opposition groups were responsible for the chemical attack.

“We have looked at all the evidence, and we do not believe the opposition possessed … chemical weapons of that sort,” Obama told PBS NewsHour.

“We do not believe that, given the delivery systems, using rockets, that the opposition could have carried out these attacks” he added.

U.N. Discord

On Wednesday the five permanent members of the U.N. Security Council were unable to reach an agreement Wednesday on a British led resolution that would have authorized the use of military force against Syria.

Russia

Russian news agency Interfax has just reported that Russia, a loyal supporter of Syria, is sending two warships to the eastern Mediterranean because of a “well known situation” which is in reference to the United States’ recent military buildup in the Mediterranean following last week’s chemical attacks in Syria.

A Russian missile cruiser and an anti-submarine ship are expected to arrive in the coming days.

The navy later denied the deployment was linked to events in Syria and said it was part of a long planned rotation of its ships in the Mediterranean.

 

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