EU partially lifts sanctions on Syria to support humanitarian efforts and reconstruction

BRUSSELS / DARAMSUQ — The European Union (EU) announced a partial suspension of economic sanctions on Syria, easing restrictions on key sectors such as energy, transportation, and banking. The move, described as a temporary measure, aims to facilitate engagement with the country while bolstering humanitarian efforts and reconstruction initiatives.

Shift in EU Policy Toward Syria

In a significant policy adjustment, the EU Council confirmed the suspension of specific restrictive measures. The partial lifting of sanctions is intended to provide greater flexibility in sectors critical to Syria’s economic recovery.

The EU explained that this decision seeks to enhance cooperation with the Syrian people and businesses, focusing on areas like energy production, transportation, and financial transactions that are essential for humanitarian aid and reconstruction efforts.

Key Sectors Affected by Sanctions Relief

The EU’s decision includes the suspension of sanctions on Syria’s energy sector, encompassing oil, gas, and electricity. Transportation restrictions, including those on aviation and logistics, have also been eased.

Moreover, five major financial institutions have been removed from the EU sanctions list, allowing them access to frozen assets and freer transaction capabilities. These institutions include:

• The Syrian Industrial Bank
• The People’s Credit Bank
• The Savings Bank
• The Agricultural Cooperative Bank
• Syrian Airlines

The Syrian Central Bank has also been granted access to economic resources, signaling a noteworthy shift in EU policy toward Syria’s financial system.

Loosening Banking Restrictions for Humanitarian Aid

One of the most critical aspects of the EU’s decision is the introduction of exceptions to the ban on banking relations between Syrian banks and financial institutions within the European Union. This adjustment enables transactions related to energy, transportation, and humanitarian purposes, as well as those required for reconstruction efforts.

Potential for Further Sanctions Easing

The EU has indicated that it may consider additional measures to further ease economic restrictions on Syria. However, the bloc emphasized that the situation will be closely monitored to ensure these decisions align with developments on the ground.

According to EU foreign policy chief Kaja Kallas, the EU reserves the right to reimpose sanctions if Syria’s new leadership fails to uphold human rights and democratic principles.

Conditional Path Forward

While the EU’s decision marks a notable shift in its approach toward Syria, the sanctions relief remains conditional. Observers view this as a dual strategy aimed at facilitating vital economic activities while pressuring Syria’s leadership to adhere to international norms.

As Syria navigates its post-conflict challenges, the EU’s evolving stance could significantly influence the nation’s economic and political trajectory in the coming months.