Switzerland lifts sanctions on main Syrian entities

Switzerland announced on Friday that it will lift a series of economic sanctions on Syria, including those imposed on the central bank.

The Swiss government said that sanctions imposed on individuals and entities associated with the previous government will remain in place after the overthrow of Assad regime.

The Swiss government added in a statement, “The aim of this decision is to promote economic recovery and a comprehensive and peaceful political transition in Syria”.

After initially easing sanctions last March, the Swiss government announced the lifting of restrictions on some financial services, trade in precious metals, and the export of luxury goods.

She noted that approximately 24 entities, including the Central Bank of Syria, were also removed from the sanctions list.

This announcement follows the European Union’s decision to lift its economic sanctions on Syria at the end of May, following a similar move by the US Treasury Department in the same month.