British Foreign Office removes 24 entities from Syria sanctions list
The British Foreign Office announced, Thursday, the removal of 24 entities from the sanctions list that were subject to asset freezes under the sanction’s regime on Syria.
The entities removed from the list include the Central Bank of Syria and a number of banks and oil companies.
This decision comes a week after the European Union countries announced the suspension of some sanctions imposed on Syria, which include key economic sectors.
During the meeting of the foreign ministers of the 27 member states in Brussels, a formal decision was taken to ease restrictions on the banking, energy and transport sectors in Syria, which were subject to a freeze on funds and economic resources.
In an official statement, the European Council explained that it had decided to suspend restrictive measures in the energy sectors, including oil, gas and electricity, as well as the transport sector.
The statement also indicated the removal of five entities from the sanctions list, namely: The Industrial Bank, the Popular Credit Bank, the Savings Bank, the Agricultural Cooperative Bank, and the Syrian Arab Airlines Corporation.
In addition, the funds and economic resources of these entities were allowed to be placed at the disposal of the Central Bank of Syria.
The European Union confirmed that this step aims to contribute to the reconstruction of Syria after years of war, especially after the fall of the regime last December.
