The United States removes severe economic restrictions on Syria
The United States announced a partial suspension of the provisions of the Caesar Act imposed on Syria, in a move that was described as a prelude to the gradual reintegration of Damascus into the global economy.
The US Department of State and Commerce and the US Treasury Department’s Office of Foreign Assets Control (OFAC) said in a joint statement that the decision allows the transfer of most US-origin goods for civilian use, as well as modern software and technologies, to or within Syria without the need for prior licenses.
The statement stressed that this step comes within the framework of supporting reconstruction efforts and achieving economic stability in Syria, stressing that the United States is committed to a united, stable, and peaceful Syria.
The statement noted that President Donald Trump seeks through this decision to give Syria a real opportunity to rebuild and prosper, explaining that the suspension doesn’t include any transactions related to Russia or Iran.
Washington also announced the adoption of new policies to encourage US companies and regional and international partners to invest in the Syrian economy, calling the move a prelude to a phase of economic cooperation conditional on political stability.
The announcement of the measures coincided with the visit of Syria’s interim president, Ahmed al Sharaa, to Washington, where he held a meeting with US President Donald Trump at the White House — the first visit by a Syrian president since the country’s independence in 1946.
The issues of the economy, the lifting of sanctions and reconstruction topped the agenda of talks between the two sides, amid Syrian optimism that the effects of the more than 14 years of war can be overcome.
During his meeting with representatives of the Syrian community in the United States, Sharaa said: “The sanctions are in their final stages, and we must continue working to lift them completely, as reconstruction requires broad internal and international cooperation”.
On June 30, Trump signed an executive order ending the sanctions program on Syria, while the US Senate on October 10 approved a bill to repeal the Caesar Act, pending approval by the House of Representatives and the president’s signature to become officially effective.
The World Bank estimates that the costs of Syria’s reconstruction exceed $200 billion, while the lifting of sanctions is expected to stimulate international investment and return international companies to the Syrian market.
