&w=3840&q=100)
Syria: Sanctions removal reflects growing international backing
Shaibani's statement came after European diplomats said in Brussels that the EU had given the green light to lifting all economic sanctions on Syria in an attempt to support the country's reconstruction following the December overthrow of longtime ruler Bashar al-Assad read more
Syrians line up to retrieve money from an ATM in Damascus, Syria. AP
Syria's foreign minister said on Tuesday that the lifting of sanctions on his country showed an 'international will' to support Damascus, after EU countries agreed to end the bloc's economic sanctions.
In a press conference in Damascus alongside his Jordanian counterpart, Asaad al-Shaibani said that 'lifting sanctions expresses the regional and international will to support Syria', adding that 'the Syrian people today have a very important and historic opportunity to rebuild their country'.
STORY CONTINUES BELOW THIS AD
'The plan today is to benefit from the lifting of sanctions. Anyone who wants to invest in Syria, the doors are open; anyone who wants to cooperate with Syria, there are no sanctions,' he added.
Shaibani's statement came after European diplomats said in Brussels that the EU had given the green light to lifting all economic sanctions on Syria in an attempt to support the country's reconstruction following the December overthrow of longtime ruler Bashar al-Assad.
EU foreign ministers are expected to officially announce their decision later on Tuesday.
The move would follow US President Donald Trump's announcement last week that he was waiving sanctions on the war-torn country.
Jordanian Foreign Minister Ayman Safadi congratulated Shaibani on the developments, saying Syria was now 'in a new phase, and Syria's success requires giving it a chance to succeed'.
Lifting sanctions would provide the Syrian government with 'the capabilities it needs to serve its people and will allow the private sector in all countries of the world to work towards that', Safadi said.
The EU had already suspended some restrictions on Syria's key economic sectors in February.
Officials said these measures could be reimposed if Syria's new leaders do not fulfil their promises to respect minority rights and move towards democracy.
STORY CONTINUES BELOW THIS AD
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
24 minutes ago
- Time of India
Goyal asks exporters to leverage FTAs, talks non-tariff barriers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Commerce and industry minister Piyush Goyal Tuesday asked exporters to increase the utilisation of free trade agreements (FTAs) and discussed non-tariff barriers at a meeting with export bodies and industry. The proposed centralised exporters portal, India's trade pact talks with the EU and the US, and ways to further boost exports of services and value-added goods were also discussed."Met representatives of all Export Promotion Councils (EPCs) & Industry Associations and discussed emerging global opportunities for India. Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country's exports," Goyal said in a post on X."Non-tariff barriers were discussed during the meeting," said an representatives said support could be provided to exporters to deal with EU regulations like the Digital Product Passport (DPP).The DPP, which is to be implemented by the EU from January 1, 2026, aims to digitally record, store and share information about a product's entire life cycle-from raw materials to manufacturing, usage, recycling and disposal. It will be mandatory for a wide range of products including electronics, batteries, textiles and construction materials."It was discussed that about 9-10 FTAs are in the pipeline, including Chile and New Zealand," said an industry representative, adding that an early harvest trade deal with the EU is progressing at a faster pace and it may be concluded soon."Discussions happened on ways to incorporate exporters' data and put it on a common portal," said another industry representative who attended the government has allocated Rs 18,233 crore under the Remission of Duties and Taxes on Exported Products (RoDTEP) in the current financial year for over 10,750 product categories, the commerce and industry ministry said. As of March 31, 2025, total disbursements under the scheme have crossed ₹57,976.78 benefits under the scheme for exports of goods manufactured in SEZsand export-oriented units are restored from June 1 this year.


Time of India
24 minutes ago
- Time of India
Moscow accuses Kyiv of derailing peace talks
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Russia said Tuesday that its massive aerial assaults on Ukraine in recent days were a "response" to escalating Ukrainian drone strikes on its own civilians, accusing Kyiv of trying to "disrupt" peace efforts. Moscow , which has repeatedly rejected proposals from Kyiv and its Western allies for a 30-day unconditional ceasefire, fired hundreds of drones at Ukraine between late Friday and early Monday, killing more than a dozen people and saturating the country's air President Donald Trump , who has been seeking to broker an end to Moscow's three-year offensive, said Vladimir Putin had "gone absolutely CRAZY".Diplomatic efforts to end the fighting have accelerated in recent weeks, with Russian and Ukrainian officials holding direct talks for the first time in three years earlier this Putin has been accused of stalling peace talks and the Kremlin has shown no signs of scaling back its maximalist demands."Kyiv, with the support of some European countries, has taken a series of provocative steps to thwart negotiations initiated by Russia," the Russian defence ministry said in a air defences destroyed 2,331 Ukrainian drones between May 20 and 27, more than half of which were intercepted in areas outside the battlefield, the ministry said. "Civilians, including women and children, were injured," it said, describing its recent strikes on Ukraine as a direct "response".


New Indian Express
29 minutes ago
- New Indian Express
Wall Street's roller-coaster ride swings higher after Trump pauses more of his tariffs
NEW YORK: Wall Street is climbing Tuesday as the roller-coaster ride created by US President Donald Trump's trade policies whips back upward, this time because of a temporary pause for tariffs on the European Union. The S&P 500 was 1% higher in its first trading since Trump said Sunday that the United States will delay a 50% tariff on goods coming from the European Union until July 9 from June 1. The European Union's chief trade negotiator later said on Monday that he had 'good calls' with Trump officials and the EU was 'fully committed' to reaching a trade deal by July 9. The Dow Jones Industrial Average was up 297 points, or 0.7%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.3% higher. They're on track to more than recover their losses from Friday, when Wall Street's roller coaster dropped after Trump announced the tariffs on France, Germany and the other 25 countries represented by the European Union. Such talks give hopes that the United States can reach a deal with one of its largest trading partners that would keep the wheels of global commerce going and avoid a possible recession. Trump reached a similar pause on his stiff tariffs with China earlier this month, which unleashed an even bigger rally on Wall Street at the time. Caution still remains on Wall Street, of course, even if the S&P 500 has climbed back within 4.6% of its record after falling roughly 20% below the market last month. Talks don't guarantee results, and a worry is that all the uncertainty caused by on-again-off-again tariffs could damage the economy itself by pushing US households and businesses to freeze their spending and investments out of fear of what's to come. Surveys have already shown American consumers are feeling much worse about the economy's prospects and where inflation may be heading because of tariffs.