US Treasury says it removed 518 Syrian individuals and entities from its list of sanctions after president’s decree.
Washington, DC – United States President Donald Trump has signed an executive order to dismantle a web of sanctions against Syria, a move that will likely unlock investments in the country more than six months after the overthrow of President Bashar al-Assad.
Trump’s decree on Monday offers sanctions relief to “entities critical to Syria’s development, the operation of its government, and the rebuilding of the country’s social fabric”, the US Department of the Treasury said in a statement.
The Syrian government has been under heavy US financial penalties that predate the outbreak of the civil war in the country in 2011.
In a statement posted on X, Syrian Minister of Foreign Affairs and Expatriates Asaad Hassan al-Shaibani welcomed Trump’s decision, saying it “will open the door of long-awaited reconstruction and development”.
“It will lift the obstacle against economic recovery and open the country to the international community.”
The sprawling sanction programme, which included provisions related to the former government’s human rights abuses, has derailed reconstruction efforts in the country. It also contributed to driving the Syrian economy under al-Assad to the verge of collapse.
Trump promised sanctions relief for Syria during his visit to the Middle East in May.
“The United States is committed to supporting a Syria that is stable, unified, and at peace with itself and its neighbours,” the US president said in a statement on Monday.
“A united Syria that does not offer a safe haven for terrorist organisations and ensures the security of its religious and ethnic minorities will support regional security and prosperity.”
Al Jazeera’s Mike Hanna, reporting from Washington, DC, said the sanctions relief was “wide-ranging”.
“This is a significant step towards the rebuilding of Syria,” he said.
The Trump administration said Syria-related sanctions against al-Assad and his associates, ISIL (ISIS), and Iran and its allies would remain in place.
While the US Treasury said it already removed 518 Syrian individuals and entities from its list of sanctions, some Syria penalties may not be revoked immediatel