EU lifts key sanctions on Syria to support post-war reconstruction
The European Union has suspended major economic sanctions on Syria, aiming to facilitate the country’s recovery and reconstruction following the fall of the Assad regime.
DAMASCUS, Syria (MNTV) — In a significant policy shift, the European Union has suspended key economic sanctions on Syria to aid in the nation’s reconstruction and economic recovery after over a decade of civil war.
The decision follows the ousting of President Bashar al-Assad in December 2024 and the establishment of a transitional government led by President Ahmed al-Sharaa.
EU foreign policy chief Kaja Kallas emphasized that the move is aimed at supporting the Syrian people in rebuilding an inclusive and peaceful nation.
“This is not full normalization, but rather a pragmatic approach to support Syrians and ensure the country’s economic collapse does not further destabilize the region,” Kallas stated.
The suspended sanctions primarily affect the energy, transport, and banking sectors. Five Syrian financial institutions, including the Industrial Bank and the Agricultural Cooperative Bank, have been removed from the EU’s asset freeze list, allowing them to access previously frozen funds.
Additionally, the EU has lifted restrictions on oil, gas, and electricity sectors and introduced exemptions to facilitate banking transactions related to humanitarian aid and reconstruction efforts.
However, sanctions targeting individuals associated with the former Assad regime, as well as those related to arms trade, surveillance equipment, and cultural property, remain in place.
The EU has adopted a staged and reversible approach, indicating that sanctions could be reinstated if the new Syrian leadership fails to uphold commitments to human rights and democratic reforms.
Syrian Foreign Minister Asaad al-Shaibani welcomed the EU’s decision, expressing hope that it would bolster Syria’s security and stability.
“We hope that this decision will have a constructive impact on all areas of life for the Syrian people and ensure sustainable development,” he said.
The EU’s move aligns with a similar decision by the United States, which recently announced the lifting of its own sanctions on Syria.
Both Western powers aim to support Syria’s transition towards a stable and inclusive governance structure, while also mitigating the risk of regional instability
The European Commission has reiterated its commitment to closely monitor developments in Syria, with the possibility of adjusting sanctions based on the country’s progress towards political inclusivity and respect for human rights.
This development marks a significant step in international efforts to support Syria’s recovery and underscores the importance of collaborative engagement in fostering long-term peace and stability in the region.
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