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Trump announces surprising sanctions relief: hope for Syria!
US President Trump announces the lifting of sanctions against Syria to promote investment and peace.
Trump announces surprising sanctions relief: hope for Syria!
On a surprise trip to the Middle East, US President Donald Trump announced today that he would lift all US sanctions against Syria. The U.S. government will immediately begin suspending these sanctions to encourage new investment and support peace and stability in Syria. Finance Minister Scott Bessent said the lifting of sanctions would allow business with the new Syrian government and the central bank, which is particularly important for the oil sector. Transactions related to petroleum and petroleum products from Syria should now be permitted.
In addition, transactions with the new Syrian government under interim President Ahmed al-Sharaa and the Syrian Central Bank were legalized. However, it remains clear that transactions that favor Russia, Iran or North Korea are still prohibited. Likewise, all transactions with previously sanctioned people or companies remain prohibited unless they are explicitly excluded. US Secretary of State Marco Rubio has announced that the suspension of further sanctions will last for a period of 180 days to ensure that US partners can make stability-enhancing investments in Syria.
Investor reaction
Prominent Syrian exile entrepreneurs such as billionaire Ghassan Aboud are also optimistic and are now planning investments in Syria without fear of US sanctions. Lebanese businessman Imad al-Khatib plans to build a waste sorting facility in Damascus that will cost $200 million. In this context, President Ahmed al-Sharaa has promised an open Syria for investors.
Challenges remain
Despite the positive developments, the political situation in Syria remains tense. Former opposition groups have not handed over their weapons and conflicts with Kurds and other minorities continue. The Syrian economy is severely weakened; Between 2010 and 2021, the gross domestic product more than halved. Experts also warn that it could take a long time for Syrians' living conditions to improve as a result of the sanctions relief.
Interim President al-Sharaa relies on a free market instead of a planned economy. In principle, the lifting of sanctions is seen by many as a decisive sign for Syria's reintegration into the Gulf states and international financial organizations. The Caesar Act could be partially suspended to allow foreign partners to provide aid, potentially marking a turning point in the country's economic stability.
Overall, the development shows that the US government is ready to take new paths to support the reconstruction of Syria and thus promote long-term peace in the country. However, these measures are subject to the condition that Syria continues to work towards stability and peace, as Finance Minister Bessent emphasizes.
For further information we refer to the reporting by Nah and daily news.