Categories: loan

Syria welcomed the permanent lifting of US sanctions

DAMASCUS, Syria (AP) — Syria’s government and its allies welcomed Friday the final lifting of some of the harshest sanctions imposed on the country in decades.

The US Congress imposed so-called Caesar Act sanctions on Syria’s government and financial system in 2019 to punish then-President Bashar al-Assad for human rights abuses during the country’s nearly 14-year civil war that began in 2011.

After Assad was ousted in a lightning rebel attack in December 2024, advocates — some of whom had already lobbied to impose sanctions — pushed for the sanctions to be lifted. They argued that the sanctions prevented international investors from launching reconstruction projects and preventing Syria from rebuilding its shattered economy and infrastructure.

US President Donald Trump, who previously temporarily lifted the fines by executive order, signed the final repeal late Thursday after Congress passed it as part of the country’s annual defense spending bill.

Some lawmakers had pushed to make the repeal conditional, among other measures, on steps taken by the new Sunni Islamist-dominated Syrian government to protect religious minorities. In the end, the sanctions were lifted without conditions but with a requirement for periodic reports to Congress on Syria’s progress on issues including minority rights and counterterrorism measures.

Syria’s foreign ministry thanked the U.S. for the move in a statement Friday, saying it would “help ease the burden on the Syrian people and pave the way for a new phase of recovery and stability.”

It called on Syrian businessmen and foreign investors to “find investment opportunities and participate in reconstruction,” which the World Bank estimates will cost $216 billion.

Central Bank Governor Abdulkader Husarih said in a statement that repealing the Caesar Act would help the country reintegrate into the international financial system by allowing it to seek a sovereign credit rating.

“Syria will probably start with a low rating, which is typical for countries emerging from conflict,” he said. “The real value lies in the benchmarks set by the assessment and the road map it provides for improvement.”

Turkey, Saudi Arabia and Qatar, regional allies of the new Syrian government led by interim president Ahmed al-Shara, also welcomed the move.

In a statement issued by the Turkish Foreign Ministry Spokesperson Onku Keseli, the Turkish Foreign Ministry Spokesman Onku Keseli said that we believe that this step will help to strengthen stability, security and prosperity in Syria.

The Saudi Foreign Ministry praised the “important and positive role played by US President Donald Trump” in lifting the sanctions.

Trump previously said he moved to lift the sanctions at the urging of Crown Prince Mohammed bin Salman, the Saudi de facto ruler, and Turkish President Recep Tayyip Erdogan.

Also on Friday, the United Kingdom – which previously lifted its own broad sanctions against the Syrian government and financial institutions – imposed new sanctions on entities and individuals “engaged in violence against civilians” in Syria.

They include four individuals affiliated with Assad’s government in a military or economic role, as well as two individuals affiliated with the new Syrian government forces and three armed groups responsible for attacks on civilians during sectarian violence along Syria’s coast earlier this year.

Clashes began in March after a group of Assad loyalists attacked security forces. Fighters from Syria’s Sunni majority – some of them officially affiliated with the new government’s security forces – have taken part in revenge killings targeting members of the Assad-affiliated Alawite sect, even though they were involved in the rebellion. Hundreds of civilians were killed.

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