The only road still linking the rebel-held part of Aleppo to the outside world was closed last week by militias affiliated and allied to the Syrian regime.
According to the Ministry of Economy, Syria’s import bill last year halved on an annual basis.
Syria’s main opposition body, the National Coalition, has formed a new Interim Government.
Syria’s balance of payments remained largely in the red last year as the current account continued to suffer from dismal goods and services exports, the IMF said in a report on the state of the Syrian economy.
The Syrian Government has banned Bureau Veritas and SGS from dealing with Government entities for a period of three years.
The European Union Council is amending the reasons for blacklisting a number of Syrian officials and investors.
Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.
The Ministry of Economy has drawn a list of goods that will be prioritized for imports.
Syria’s official annual inflation rate reached 48.1 percent, according to the Central Bureau of Statistics.
The Syrian Government’s decision to impose a sharp rise in the price of oil products has been met by wide complaints in regime-held areas, which seem to reflect the exhaustion of the population.
ISIS revenues declined 16 percent last year as oil and cement production were affected by loss of territory and air strikes, according to a recent report.
The EU has lifted the sanctions it imposed in 2014 on Hashem Akkad, a Syrian businessman active in multiple sectors, a decision that could have a broader impact on the sanctions regime imposed on Syrian individuals and entities.
After much delays and official announcements by the Governments of Syria and Iran, the preferential trade agreement between the two countries finally entered into force a few weeks ago.
Syrian billionaire Wafic Saïd and Barclays Bank have reached a deal under which the former ends his lawsuit after the bank apologised for the way it cut ties with him.
While many investors expect to benefit from significant business opportunities as soon as the Syrian war ends, in practice many obstacles stand before any meaningful and large scale reconstruction effort.
Syria: Progress & Potential
BIS Conference Centre, 1 Victoria Street, London SW1
Damascus International Fairground