Latest news with #SyrianSanctionsRegulations
Scoop
28-05-2025
- Business
- Scoop
Providing Sanctions Relief For The Syrian People
Marco Rubio, Secretary of State May 23, 2025 In accordance with the President's promise to deliver sanctions relief to Syria, I have issued a 180-day waiver of mandatory Caesar Act sanctions to ensure sanctions do not impede the ability of our partners to make stability-driving investments, and advance Syria's recovery and reconstruction efforts. These waivers will facilitate the provision of electricity, energy, water, and sanitation, and enable a more effective humanitarian response across Syria. In addition, the Department of the Treasury issued Syria General License (GL) 25 to authorize transactions by U.S. persons previously prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria. The GL will allow for new investment and private sector activity consistent with the President's America First strategy. The Financial Crimes Enforcement Network (FinCEN) is providing exceptive relief to permit U.S. financial institutions to maintain correspondent accounts for the Commercial Bank of Syria. Today's actions represent the first step in delivering on the President's vision of a new relationship between Syria and the United States. 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. The President has made clear his expectation that relief will be followed by prompt action by the Syrian government on important policy priorities. The sanctions waiver is issued pursuant to section 7432(b)(1) of the Caesar Syria Civilian Protection Act of 2019 (22 U.S.C. 8791 note).
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.
Saudi Gazette
24-05-2025
- Business
- Saudi Gazette
Syria welcomes US sanctions relief, calls move a step toward recovery
DAMASCUS — The Syrian Foreign Ministry on Saturday welcomed a U.S. decision to immediately lift sanctions on Syria, calling it a step in 'the right direction' toward easing the country's humanitarian and economic suffering. In an official statement, the ministry expressed readiness to cooperate with all countries 'on the basis of mutual respect and non-interference in internal affairs,' adding that Syria was entering a new phase focused on rebuilding what was destroyed and restoring the nation's standing in the region and globally. The comments followed a decision by the U.S. Treasury Department on Friday to issue a general license that effectively lifts U.S. sanctions on Syria. The license, issued by the Treasury's Office of Foreign Assets Control (OFAC), authorizes previously prohibited transactions under the Syrian Sanctions Regulations, opening the door to new investment and private sector engagement in the war-torn country. 'As President Trump promised, the Treasury Department and the State Department are implementing authorizations to encourage new investment into Syria,' U.S. Secretary of the Treasury Scott Bessent said in a statement. President Donald Trump, during a recent visit to the Middle East, announced he would instruct U.S. agencies to lift what he described as 'brutal and crippling' sanctions on Syria to provide the country 'a chance at greatness.'The sweeping decision is being viewed as one of the most significant U.S. policy shifts on Syria in recent years, potentially marking the start of broader regional normalization efforts and foreign economic re-engagement with Damascus.
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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.
