Washington: United States lifted comprehensive economic sanctions to Syria on Friday, marking a change of dramatic policy after the end of the Bashar Al-Assad regime and opening the door to a new investment in the country devastated by war.
Syria must “continue working to become a stable country that is at peace, and today’s actions will put the country on a way to a brilliant, prosperous and stable future,” said Treasury secretary, Scott Besent, in a statement.
The measure formalized a decision announced by President Donald Trump last week.
During a tour of the Middle East, Trump unexpectedly announced that he was raising sanctions of the “brutal and paralyzing” Assad era to Syria in response to the demands of Türkiye and Saudi Arabia.
The relief of sanctions extends to the new Government of Syria with conditions that the country does not provide safe refuge for terrorist organizations and guarantees the safety of religious and ethnic minorities, the treasure said.
The State Department simultaneously issued an exemption that allows foreign partners and allies to participate in the reconstruction of Syria, giving companies the green light to do business in the country.
The authorization covers a new investment in Syria, the provision of financial services and transactions that involve Syrian oil products.
It also allows deals with the new government of Syria and certain previously blocked entities.
The United States had imposed radical restrictions on financial transactions with Syria during the 14 -year civil war and made it clear that it would use sanctions to punish anyone involved in reconstruction provided that Assad remained in power.
After a campaign led by Islamist last year that demolished Assad, the new Government of Syria has been seeking to reconstruct relations with Western governments and reverse the punishing sanctions.
