Syria after Assad

The fall of Syria’s President Bashar al-Assad has been warmly received by many, at least outside Russia and Iran, but a key lesson from the other Arab Spring countries is that hopes for a shift towards a liberal, Western-style democracy are likely to be dashed. The implications for the global economy and energy markets from events in Syria are likely to be limited, although these potentially represent another major shift in the geopolitical sands in the region.