Key points
- Treasury issues general license lifting Syria sanctions
- Rubio waives sanctions under Caesar Act for 180 days
- Move to enable new investment and private sector activity
ISLAMABAD: The United States lifted comprehensive economic sanctions on Syria on Friday, marking a dramatic policy shift following the end of Bashar al-Assad’s regime and opening the door for new investment in the war-torn country.
The Treasury Department issued a general license that authorises transactions involving the interim Syrian government led by President Ahmed al-Sharaa, as well as the central bank and state-owned enterprises.
According to Reuters, the general license, known as GL25, “authorises transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria,” the Treasury said in a statement.
“GL25 will enable new investment and private sector activity consistent with the President’s America First strategy,” the statement said.
Stable country
Syria must “continue to work towards becoming a stable country that is at peace, and today’s actions will hopefully put the country on a path to a bright, prosperous and stable future,” Treasury Secretary Scott Bessent said in a statement.
The move formalised a decision announced by President Donald Trump last week.
During a Middle East tour, Trump unexpectedly announced that he was lifting “brutal and crippling” Assad-era sanctions on Syria in response to demands from Turkey and Saudi Arabia.
The State Department simultaneously issued a waiver enabling foreign partners and allies to participate in Syria’s reconstruction, giving companies the green light to do business in the country.
Secretary of State Marco Rubio said in a statement Friday the waiver would “facilitate the provision of electricity, energy, water and sanitation, and enable a more effective humanitarian response across Syria.”
New investment in Syria
According to AFP, the authorisation covers new investment in Syria, provision of financial services, and transactions involving Syrian petroleum products.
“Today’s actions represent the first step on delivering on the president’s vision of a new relationship between Syria and the United States,” Rubio said.
The United States had imposed sweeping restrictions on financial transactions with Syria during the country’s 14-year civil war and made clear it would use sanctions to punish anyone involved in reconstruction as long as Assad remained in power.
After an Islamist-led campaign last year that toppled Assad, Syria’s new government has been looking to rebuild relations with Western governments and roll back punishing sanctions.
