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WASHINGTON: The United States announced on Friday the removal of extensive economic sanctions on Syria, representing a significant shift in policy following the downfall of Bashar al-Assad’s regime. This decision paves the way for new investments in the war-torn nation.
Treasury Secretary Scott Bessent stated, “Syria must continue on the path toward peace and stability. Today’s actions aim to steer the country towards a bright, prosperous, and stable future.”
This move formalizes a decision that President Donald Trump proclaimed last week.
While on a tour of the Middle East, Trump made a surprising announcement regarding the removal of what he termed the “brutal and crippling” sanctions from Assad’s era, responding to requests from Turkey and Saudi Arabia.
Under this sanctions relief, Syria’s new government must meet specific conditions, including refraining from providing safe havens for terrorist groups and ensuring the safety of religious and ethnic minorities, according to the Treasury.
In parallel, the State Department issued a waiver allowing foreign partners and allies to engage in Syria’s reconstruction, thus permitting businesses to operate within the country.
This authorization covers new investments, financial services, and transactions involving Syrian oil products. It also allows interactions with Syria’s new government and some previously restricted entities.
The U.S. had previously enforced strict financial transaction limits on Syria throughout the country’s 14-year civil war, making it clear that sanctions would remain against anyone involved in reconstruction efforts as long as Assad was in power.
Following the Islamist-led campaign that ousted Assad last year, Syria’s new administration is eager to rebuild its relations with Western countries and lift the harsh sanctions.
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