The Office of Foreign Assets Control of the U.S. Department of the Treasury has issued a license allowing financial transactions related to Syria, which were previously restricted by Washington’s sanctions. This move is the first to be implemented following the announcement by the American president to lift all sanctions against Syria.
This is reported by Finway
The U.S. Treasury Department noted that this license “effectively lifts sanctions against Syria.” However, the lifting does not apply to all American sanctions, which still remain in force for certain Syrian citizens. The new license permits investments in the country and private sector activities “in line with the president’s ‘America First’ strategy.”
“As promised by President Trump, the Treasury Department and the State Department are implementing permits to encourage new investments in Syria. But Syria must also continue to work towards becoming a stable country at peace. Today’s actions, we hope, will put this country on the path to a bright, prosperous, and stable future,” said U.S. Treasury Secretary Scott Bessent.
In particular, sanctions have been lifted from the Central Bank of Syria, other banks, the airline Syrian Arab Airlines, shipping companies, and entities managing the ports of Latakia and Tartus. Transactions with the Syrian oil company Sytrol and other energy organizations have also been restored.
Some “government sanctions” have also been lifted from the Syrian Ministry of Oil and Mineral Resources, the Ministry of Tourism, as well as from the Four Seasons hotel in Damascus. However, the vast majority of individuals against whom the U.S. imposed personal restrictions remain under sanctions, including the former dictator of the country, Bashar al-Assad. At the same time, restrictions have been lifted on the new head of the Syrian state, Ahmed al-Sharaa, and the Minister of Interior, Anas Khattab.
The U.S. Treasury Department emphasized that these actions are aimed at supporting the recovery of Syria’s economy, financial sector, and infrastructure, which aligns with the interests of U.S. foreign policy.