US takes first steps in easing sanctions on Syria

Alsharq Tribune- Sarah Benkraouda 

The US government has begun suspending sanctions on Syria in a bid to encourage new investment and support the country's path towards peace and stability, Treasury Secretary Scott Bessent announced.

"As President [Donald] Trump promised, the Treasury Department and the State Department are implementing authorizations to encourage new investment into Syria," Bessent said on Friday.

"Syria must also 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."

Last week, Trump announced the lifting of all US sanctions on Syria.

Sanctions were imposed by the US and other countries in the wake of the civil war that erupted under former president Bashar al-Assad. His regime was overthrown in early December by an Islamist rebel alliance.

According to the US Treasury Department, the easing of restrictions will allow new economic activity, including financial services and transactions related to petroleum and petroleum products originating in Syria.

Dealings with the new Syrian government, interim President Ahmed al-Sharaa, the Syrian central bank and other financial institutions will also be permitted, the department said.

However, sanctions remain in place on transactions that benefit Russia, Iran or North Korea.

US Secretary of State Marco Rubio said sanctions would be suspended for 180 days to ensure restrictions don't block stability-focused investment in Syria.

"These waivers will facilitate the provision of electricity, energy, water and sanitation, and enable a more effective humanitarian response across Syria," Rubio said in a statement.