The EU suspended sanctions on Syria in energy and transport sectors and removes institutions from asset freeze list
The European Union decided on Monday to suspend sanctions imposed on Syria in the energy and transportation sectors, and to remove the Syrian Arab Airlines and four banking institutions from the list of entities subject to the freezing of funds and economic resources.
The Federal Council explained, in a statement, that it decided to suspend restrictive measures in the energy sectors, including oil, gas and electricity, and transportation.
The Council also decided to remove five entities, namely the Industrial Bank, the Popular Credit Bank, the Savings Bank, the Agricultural Cooperative Bank, and the Syrian Arab Airlines, from the list of entities subject to the freezing of funds and economic resources.
The Council also decided to allow the funds and economic resources of those parties to be placed at the disposal of the Central Bank of Syria.
