After suspending several sanctions on Syria… What sanctions did the EU still impose?
In a move consistent with political and economic developments in Syria, the European Union Council has decided to suspend a number of sanctions imposed on the country.
The EU Council explained in a statement that this step aims to support the comprehensive political transition in Syria and its rapid economic recovery, in addition to helping in its reconstruction and achieving stability.
The statement indicated that lifting the restrictions will contribute to facilitating interaction with Syria, especially in the areas of energy and transport, and enabling financial and banking transactions related to these sectors, in addition to those necessary for humanitarian purposes and reconstruction.
The restrictions that were suspended included measures related to the energy and transportation sectors, including oil, gas and electricity.
Five entities were also removed from the list of entities subject to the freezing of funds and economic resources: The Industrial Bank, the People’s Bank, the Savings Bank, the Agricultural Cooperative Bank, and Syrian Arab Airlines.
In addition, funds and economic resources will be allowed to be provided to the Central Bank of Syria, with exemptions from the ban on establishing banking relations between Syrian banks and financial institutions in EU countries, with the aim of facilitating transactions related to the energy and transportation sectors, as well as humanitarian transactions and reconstruction.
The current humanitarian exemptions were also extended indefinitely, however, at the same time, the EU maintained its sanctions related to the Assad regime, the chemical weapons sector, and the illicit drug trade, in addition to certain sectors sanctions that include the arms trade, dual-use goods, equipment used in internal repression, surveillance and eavesdropping programs, and the import and export of Syrian cultural property.
