Latest news with #GL25
Gulf Insider
25-05-2025
- Business
- Gulf Insider
US Removes Syria Sanctions In Implementation Of Trump's 'Fresh Start' Vision
The White House on Friday began easing sanctions on Syria, in fulfillment of President Trump's promise to give the war-torn country a new chance and put it on the path to 'greatness'. 'I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,' Trump had first announced in an investment forum in Riyadh last week, where he met President Sharaa (Jolani), who is the founder of al-Qaeda in Syria. But Trump still expressed hope that the new government would 'succeed in stabilizing the country.' Secretary of State Marco Rubio days later admitted in a Senate hearing that the new leadership in Damascus 'didn't pass their background check with the FBI' – which is of course an understatement given Jolani even had been with ISIS early in his jihadi 'career'. The Treasury Department confirmed that it has issued General License 25 (GL25), authorizing previously prohibited transactions under the Syrian Sanctions Regulations (SSR), and further Rubio issued a 180-day waiver of the Caesar Syria Civilian Protection Act, suspending some of the harshest measures passed by Congress in 2019. 'Today's actions represent the first step in delivering on the President's vision of a new relationship between Syria and the United States,' the secretary of state announced. 'President Trump is providing the Syrian government with the chance to promote peace and stability, both within Syria and in Syria's relations with its neighbors.' Western officials have unwittingly admitted that sanctions are a tool of regime change, regardless of the horrific impact they have on millions of common citizens… Syria has reportedly been reconnected to the SWIFT international payment system, and the Treasury action paves the way for American entities dealing Syria's central government, Central Bank of Syria and other banks, as well as energy firms, and telecommunications providers, etc. Click here to read more…
Dubai Eye
24-05-2025
- Business
- Dubai Eye
US issues orders easing Syria sanctions after Trump pledge
The Trump administration issued orders on Friday that it said would effectively lift sanctions on Syria, after President Donald Trump this month pledged to unwind the measures to help the country rebuild after a devastating civil war. The Treasury Department issued a general licence that authorises transactions involving the interim Syrian government led by President Ahmed al-Sharaa, as well as the central bank and state-owned enterprises. The general licence, 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. Secretary of State Marco Rubio also issued a 180-day waiver under the Caesar Act to ensure that sanctions do not obstruct investment and to facilitate the provision of electricity, energy, water and sanitation and enable humanitarian efforts, he said in a statement. 'POSITIVE STEP' Syria welcomed the sanctions waiver early on Saturday, which the Foreign Ministry called a "positive step in the right direction to alleviate the country's humanitarian and economic suffering". Syria is keen on cooperating with other countries "on the basis of mutual respect and non-interference in internal affairs. It believes that dialogue and diplomacy are the best path to building balanced relations," the ministry said in a statement. Most of the US sanctions on Syria were imposed on the government of Syrian President Bashar al-Assad and key individuals in 2011 after civil war erupted there. Sharaa led militias that overthrew Assad in December. The general licence names Sharaa, formerly sanctioned under the name Abu Muhammad al-Jawlani, among the people and entities with whom transactions are now authorised. It also lists Syrian Arab Airlines, the Central Bank of Syria and a number of other banks, several state oil and gas companies and the Four Seasons Damascus hotel. Trump unexpectedly announced last week that he would lift the sanctions at the behest of Saudi Arabia's crown prince, a major US policy shift he made before meeting briefly with Sharaa in Riyadh. It is hoped that easing Syria sanctions will clear the way for greater engagement by humanitarian organisations working in Syria, encouraging foreign investment and trade as the country rebuilds. But the US has imposed layers of measures against Syria, cutting it off from the international banking system and barring many imports, and the potential for sanctions on a country to return can chill private-sector investment. The US first put the country on its list of state sponsors of terrorism in 1979 and since then has added additional sets of sanctions, including several rounds following the country's 2011 uprising against Assad.
Daily News Egypt
24-05-2025
- Business
- Daily News Egypt
US eases Syria sanctions; Damascus welcomes move
The United States administration under President Donald Trump on Friday granted Syria comprehensive exemptions from US sanctions, a development aimed at fulfilling a pledge to lift decades-old restrictions on the country, which has experienced conflict for more than 14 years. The Syrian government in Damascus welcomed the decision, describing it as an initial phase in implementing President Trump's commitment to lift sanctions. This commitment was reportedly made at the Saudi-American Investment Forum in Riyadh approximately two weeks prior. Damascus stated the move was 'a step towards alleviating the humanitarian and economic suffering' of the Syrian people. A directive from the US State Department on Friday nullified a range of stringent sanctions imposed by Congress in 2019. It also suspended, for a period of six months, a US Treasury Department measure that applied sanctions to any individual or entity dealing with a specified group of Syrian individuals and entities, including the Syrian Central Bank. Details of Six-Month Exemptions and Sanctions Lifted In a related move, the US Treasury Department announced the lifting of sanctions on Syrian President Ahmed al-Shara and his Interior Minister Anas al-Khattab. This followed the issuance of General Licence No. 25 (GL 25), which provides for the immediate easing of sanctions on Damascus and permits previously prohibited transactions. The licence, issued by the Treasury's Office of Foreign Assets Control (OFAC), specifically lifts sanctions on the Syrian Central Bank, Syrian Arab Airlines, the Radio and Television General Organisation, and the ports of Latakia and Tartous, alongside other individuals and entities. General Licence 25 was issued to provide immediate sanctions relief, consistent with President Trump's declaration to cease all sanctions imposed on Damascus. A US Treasury Department statement indicated that GL 25 authorises transactions previously barred under Syrian sanctions regulations, effectively lifting these sanctions. It also aims to stimulate new investments and private sector activity, which is in line with President Trump's 'America First' strategy. US Secretary of State Marco Rubio said in a statement that he had 'issued a 180-day waiver from sanctions imposed on Syria under the Caesar Act to ensure that sanctions do not hinder investments and to facilitate the provision of electricity, energy, water, healthcare, and humanitarian relief efforts.' Rubio added, 'Today's moves represent the first step in realizing the President's vision for a new relationship between Syria and the United States,' noting that Trump 'made it clear that he expects that the easing of sanctions will be followed by action from the Syrian government.' These developments coincided with Washington's announcement that Thomas Barrack, US Ambassador to Turkey, assumed the role of Special Envoy to Syria on Friday. Background on US Sanctions Policy US sanctions on Syria have historically been multifaceted, encompassing legislation passed by Congress, executive orders from the President, measures imposed by the Treasury Department in consultation with the State Department, and prohibitions on non-humanitarian trade between Damascus and Washington. Additional sanctions were aimed at deterring third countries from engaging in business with Syria. Sanctions on the Syrian Central Bank reportedly persisted even after the fall of former President Bashar al-Assad's regime. These measures prevented the Syrian financial system from accessing global banking networks and hindered efforts to revive the Syrian economy through international financial channels. Congressional sanctions, notably the 'Caesar Act,' were designed to isolate Syria's former leadership by barring anyone conducting commercial transactions with them from the global financial system. These sanctions also specifically impede post-war reconstruction. While they can be waived for 180 days via executive order, the Associated Press reported they could likely be reimposed after six months. Economic Reconstruction and Conditions for Further Relief The new US licence encompasses the lifting of sanctions on the Commercial Bank of Syria, the Syrian Gas Company, and the Syrian Petroleum Company, in addition to the General Organisation of Radio and Television, the General Company for the Port of Latakia, and numerous banking and logistical institutions. The Treasury stated that this authorisation is intended to support the reconstruction of the Syrian economy, its financial sector, and infrastructure, in line with US foreign policy objectives. Attracting new investment to Syria and supporting the new Syrian government are deemed essential for this purpose, with GL 25 facilitating previously restricted economic activities. According to Associated Press, the US State Department last week outlined a three-stage roadmap for further sanctions relief. This begins with an initial temporary and partial easing, contingent upon Syria meeting comprehensive conditions for any future, more permanent, easing or lifting of sanctions. Conditions for reaching the second stage include the removal of Palestinian factions from Syria, the new government assuming control of detention centres holding 'ISIS' fighters, and the integration of the US-backed Kurdish force (Syrian Democratic Forces, 'SDF') into the Syrian army. To reach the third stage, the US administration requires Syria to join the Abraham Accords, normalising relations with Israel, and to provide evidence of the destruction of chemical weapons allegedly possessed by former President Bashar al-Assad's regime. Syrian Government Reaction On Saturday, the Syrian Foreign Ministry formally welcomed the US government's decision. In a statement published on its 'X' (formerly Twitter) platform account, the Ministry acknowledged the 'issuance of an exemption from mandatory sanctions under the Caesar Act and the circulation of General License No. 25 concerning Syria (GL 25).' It described the decision as 'a positive step in the right direction to alleviate the humanitarian and economic suffering in the country.' The Ministry affirmed that Damascus 'extends its hand to all who wish to cooperate on the basis of mutual respect and non-interference in internal affairs,' believing that 'dialogue and diplomacy are the best way to build balanced relations that achieve the interests of peoples and enhance security and stability in the region.' The statement continued: 'Syria also expresses its appreciation to all countries, institutions, and peoples that stood by it, and affirms that the next stage will be a stage of rebuilding what the former regime destroyed and restoring Syria's natural position in the region and the world.' Earlier this month, Syrian Foreign Minister Asaad al-Shaibani reported an agreement to form rapid technical teams following President Trump's sanctions-lifting announcement in Riyadh. European Union Considers Parallel Sanctions Review Following the US move, EU foreign policy chief Kaja Kallas last week proposed a further easing of European sanctions on Syria. This would allow funding for Syrian ministries in areas such as reconstruction and migration. A document dated 14 May, seen by Reuters, indicated the EU would permit member states to finance Syrian Ministries of Defence and Interior for cooperation on reconstruction, capacity building, counter-terrorism, and migration. A special clause would also grant EU member states greater flexibility in dealing with Syrian state-owned entities concerning the destruction of chemical weapons. The new EU proposal would lift sanctions on the Commercial Bank of Syria while maintaining measures against individuals linked to the former Assad administration. EU foreign ministers are scheduled to discuss relations with Damascus at a meeting in Brussels this week, including the potential lifting of sanctions on the Syrian Central Bank. Germany, Italy, the Netherlands, and Austria circulated a joint paper advocating for the removal of sanctions on the Syrian Central Bank and its financial institutions. 'The goal is to provide additional space for socio-economic recovery,' the four nations wrote. The EU has already eased some energy, transport, and reconstruction-related sanctions, along with associated financial transactions. However, certain member states are pushing for more extensive relief to facilitate Syria's transition process.
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First Post
24-05-2025
- Business
- First Post
Syria welcomes US decision to lift sanctions, sees new opportunities for growth
US President Donald Trump surprised many with his announcement of the new policy on a Gulf tour earlier this month, during which he shook hands with Syria's jihadist-turned-interim President Ahmed al-Sharaa read more US President Donald Trump meets with Syrian President Ahmed al-Sharaa in Riyadh, Saudi Arabia. File image/ Reuters Syria welcomed the Trump administration's decision to ease US sanctions on Saturday, as Washington seeks to begin a new chapter in its ties with Syria. During a Gulf visit earlier this month, US President Donald Trump surprised many by announcing the new policy while shaking hands with Ahmed al-Sharaa, the jihadist who is now Syria's interim president. Trump said he wanted to give the war-torn country's new rulers 'a chance at greatness' after their overthrow of longtime ruler Bashar al-Assad in December. STORY CONTINUES BELOW THIS AD 'The Syrian Arab Republic welcomes the decision from the American government to lift the sanctions imposed on Syria and its people for long years,' a foreign ministry statement said. It described the move as 'a positive step in the right direction to reduce humanitarian and economic struggles in the country'. The Treasury Department issued a general license known as GL25, 'authorizes 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. Most of the US sanctions on Syria were imposed on the government of Syrian President Bashar al-Assad and key individuals in 2011 after civil war erupted there. Sharaa led militias that overthrew Assad in December. The general license names Sharaa, formerly sanctioned under the name Abu Muhammad al-Jawlani, among the people and entities with whom transactions are now authorized. It also lists Syrian Arab Airlines, the Central Bank of Syria and a number of other banks, several state oil and gas companies and the Four Seasons Damascus hotel. STORY CONTINUES BELOW THIS AD Since Assad's ouster, the new administration has been looking to build relations with the West and roll back sanctions, but some governments had expressed reluctance, pointing to the Islamist past of leading figures. Sharaa himself was once considered a 'terrorist' by Washington, with a $10 million bounty on his head. On Friday, US Treasury Secretary Scott Bessent said his country was 'implementing authorisations to encourage new investment into Syria'. The sanctions relief extends to Syria's new government with conditions that the country not provide safe haven for terrorist organisations and ensure security for religious and ethnic minorities, the US Treasury Department said. Concurrently, the US State Department issued a 180-day waiver for the Caesar Act to make sure sanctions do not obstruct foreign investment into Syria. The 2020 legislation severely sanctioned any entity or company cooperating with the ousted government. 'New relationship' Secretary of State Marco Rubio said the waiver would 'facilitate the provision of electricity, energy, water and sanitation, and enable a more effective humanitarian response across Syria'. STORY CONTINUES BELOW THIS AD The authorisation covers new investment in Syria, provision of financial services and transactions involving Syrian petroleum products. However, Rubio cautioned that Trump 'has made clear his expectation that relief will be followed by prompt action by the Syrian government on important policy priorities'. 'Today's actions represent the first step on delivering on the president's vision of a new relationship between Syria and the United States,' he said. Syria's 14-year civil war killed over half a million people and destroyed much of the country's infrastructure. Rubio said the lifting of sanctions aims at promoting 'recovery and reconstruction efforts'. Syrian Finance Minister Mohammed Barnieh said it would help with reconstruction and infrastructure modernisation, and 'opens the door for the return of investments'. The European Union announced the lifting of its sanctions on Syria earlier this month. In a post on social media platform X, Syrian Foreign Minister Asaad al-Shaibani promised Syrians 'more successes in the coming months, complementing the successive decisions to lift American and European sanctions on Syria'. STORY CONTINUES BELOW THIS AD After meeting Shaibani on Saturday, UN Syria envoy Geir Pedersen said that 'strong support from the international community and regional actors should continue'. Analysts say a full lifting of sanctions may still take time, as some US restrictions are acts that need to be reversed by Congress, while Syrian authorities need to ensure an attractive environment for foreign investment.
NBC News
24-05-2025
- Business
- NBC News
Trump administration begins to lift Syria sanctions in place for decades
The Trump administration issued orders Friday that it said would effectively lift sanctions on Syria, after President Donald Trump this month pledged to unwind the measures to help the country rebuild after a devastating civil war. The Treasury Department issued a general license that authorizes transactions involving the interim Syrian government led by President Ahmed al-Sharaa, as well as the central bank and state-owned enterprises. The general license, known as GL25, 'authorizes 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. Secretary of State Marco Rubio also issued a 180-day waiver under the Caesar Act to ensure that sanctions do not obstruct investment and to facilitate the provision of electricity, energy, water and sanitation and enable humanitarian efforts, he said in a statement. 'Today's actions represent the first step in delivering on the President's vision of a new relationship between Syria and the United States,' Rubio said, adding that Trump had made clear his expectation that sanctions relief would be followed by action by the Syrian government. The White House said after Trump met Sharaa last week that the president asked Syria to adhere to several conditions in exchange for sanctions relief, including telling all foreign militants to leave Syria, deporting what he called Palestinian terrorists, and helping the U.S. prevent the resurgence of ISIS. 'President Trump is providing the Syrian government with the chance to promote peace and stability, both within Syria and in Syria's relations with its neighbors,' Rubio said. Syria welcomed the sanctions waiver early on Saturday, which the Foreign Ministry called a 'positive step in the right direction to alleviate the country's humanitarian and economic suffering.' Syria is keen on cooperating with other countries 'on the basis of mutual respect and non-interference in internal affairs. It believes that dialogue and diplomacy are the best path to building balanced relations,' the ministry said in a statement. Most of the U.S. sanctions on Syria were imposed on the government of Syrian President Bashar al-Assad and key individuals in 2011 after civil war erupted there. Sharaa led militias that overthrew Assad in December. The general license names Sharaa, formerly sanctioned under the name Abu Muhammad al-Jawlani, among the people and entities with whom transactions are now authorized. It also lists Syrian Arab Airlines, the Central Bank of Syria and a number of other banks, several state oil and gas companies and the Four Seasons Damascus hotel. Trump unexpectedly announced last week that he would lift the sanctions at the behest of Saudi Arabia's crown prince, a major U.S. policy shift he made before meeting briefly with Sharaa in Riyadh. It is hoped that easing Syria sanctions will clear the way for greater engagement by humanitarian organizations working in Syria, encouraging foreign investment and trade as the country rebuilds. But the U.S. has imposed layers of measures against Syria, cutting it off from the international banking system and barring many imports, and the potential for sanctions on a country to return can chill private-sector investment. following the country's 2011 uprising against Assad.
