The European Union has initiated a landmark shift by suspending sanctions on Syria’s energy, transport, and banking sectors – a decisive move to stabilize the nation’s economy after 13 years of conflict. This decision follows December’s overthrow of Bashar al-Assad and the establishment of an interim government by former rebel coalition Hayat Tahrir al-Sham (HTS).
These measures aim to support Syria’s inclusive political transition and lay foundations for sustainable recovery,stated EU foreign ministers.
Key eased restrictions include:
- Oil, gas, and electricity trade exemptions
- Aviation sector reactivation
- Banking transactions through five financial institutions
- Luxury goods imports for civilian use
The EU first imposed asset freezes in 2011 following Assad’s violent suppression of pro-democracy protests. With HTS dissolving Syria’s former military structures and initiating constitutional reforms, Brussels now conditions further sanctions relief on March’s promised formation of an inclusive government.
UN envoy Geir Pedersen emphasized: Swift economic stabilization hinges on credible power-sharing agreements. Analysts note that while EU sanctions easing addresses Syria’s $18 billion GDP contraction since 2010, persistent challenges include rebuilding 40% destroyed infrastructure and managing $5.6 billion in frozen foreign assets.
Western governments remain divided, with the U.S. maintaining sanctions until human rights benchmarks are met. Meanwhile, Syria’s new leadership faces urgent tasks – from restoring basic services for 16.7 million needing aid to attracting foreign investment in a nation where 90% live below the poverty line.
