Sanctions

This explainer details the economic ramifications of this step (from easing export controls and foreign assistance) and the implications for the lawsuits filed against the Syrian government in courts in the United States under the Foreign Sovereign Immunities Act (FSIA).

The final delisting came after U.S. President Donald Trump notified Congress on 8 July of his intention to remove Syria from the list, triggering a 45-day statutory review period before the delisting process could be completed.

Syria presents one of the region’s most significant investment opportunities, but also one of its most legally complex environments. The country is emerging from prolonged conflict, institutional disruption, sanctions, currency instability, and economic isolation. Its legal and regulatory framework is evolving rapidly. Although many economic sanctions have been lifted, targeted sanctions, export controls, counterterrorism restrictions, and compliance risks remain. Investors should therefore approach Syria with a layered legal and commercial risk-management strategy rather than assuming that a standard arbitration clause will provide sufficient protection. (This article is a guest contribution by Harout Ekmanian.)

The first US-Syria Business Forum, held on Monday at the Dama Rose Hotel in Damascus,  brought together senior Syrian officials, representatives of U.S. companies and business leaders in Damascus, reflecting growing momentum behind efforts to rebuild commercial ties between the two countries.

After over a decade of litigation, the Paris Criminal Court has found French company Lafarge and four former senior executives guilty of financing terrorism and violating international sanctions.

On February 25, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that an unnamed “U.S. person” had agreed to pay USD 3,777,000 to settle 20 apparent violations of U.S. sanctions imposed on Syria.

On December 18, U.S. President Donald Trump signed into law the National Defense Authorization Act (NDAA) for the Fiscal Year 2026 effectively repealing the Caesar Act without snapback provisions. The text was voted on by the Senate on December 15, and by the House of Representatives on December 10.

President Ahmad Al-Sharaa became the first Syrian Head of State to visit the White House, where he met his American counterpart, Donald Trump, on November 10. The visit, a major step in Syria's reintegration into the international community, is also part of Damascus’ efforts to fully repeal the Caesar sanctions.

In late May, a series of landmark decisions by the United States, European Union, and Japan to ease economic sanctions on Syria signalled a potential turning point for the war-torn country’s economy. However, several key restrictions remain in place.

The U.S. administration announced on May 23 a lifting of the main sanctions imposed on Syria by the executive in 2011, as well as a suspension of the Caesar Act for the next six months. The decision effectively suspends all the main restrictions imposed on foreign actors from dealing with Syria and allows the country’s partial reintegration into the international trade and financial circuits.

Several U.S. officials have sent mixed signals concerning the pace at which sanctions against Syria may be lifted, with some seemingly requesting now a set of pre-conditions to eliminate them.

After the fall of the Assad regime, the announcement today by U.S. President Donald Trump that he is willing to remove sanctions on Syria is the best news for Syrian society in a very long time.

During a historic visit to Saudi Arabia, U.S. President Donald Trump announced on Tuesday that he would lift sanctions on Syria as per the request of Saudi Crown Prince Mohammad Bin Salman, as well as Turkish President Recep Tayyip Erdogan. Through this surprise announcement, Mr Trump pledgesd to end a severe sanctions system that, while contributing to the fall of the former regime of Bashar Al-Assad last December, has suffocated the Syrian economy and isolated the country from large parts of the world.

On April 27, Saudi Arabia and Qatar announced they would settle Syria's entire arrears to the World Bank (WB), amounting to approximately USD 15 million. The announcement came two days after a high-ranking Syrian government delegation traveled to Washington D.C. to hold talks with the International Monetary Fund (IMF) and the WB.

Since the fall of the Assad regime, a debate has emerged on the regulation of the use of cryptocurrencies in Syria. These digital assets present an array of opportunities (such as broader financial inclusion and a reduction in the cost of transfers) but also risks (from high volatility, jeopardising monetary sovereignty, and facilitating illicit financial flows).

The Islamic Development Bank (IDB) officially reinstated Syria’s membership on March 16, marking an important step in the country’s path toward economic recovery. As a key financial institution serving member states of the Organisation of Islamic Cooperation (OIC), the IDB plays a vital role in funding infrastructure, social, and economic development projects.

The United Kingdom and Switzerland have recently announced a partial lift of sanctions against Syria, following in the footsteps of the European Union ease of sanctions in late February.

On Monday, the Council of the European Union announced a partial lift of sanctions in the energy, transport and banking sector, although it is unclear if the impact of these measures will be significant. The E.U. removed from its blacklist six entities: Industrial Bank, Popular Credit Bank, Savings Bank, Agricultural Cooperative Bank, Central Bank of Syria and Syrian Arab Airlines, and lifted the asset freeze on all of them except the Central Bank.

European foreign ministers, meeting in Brussels on January 27, have agreed on a “roadmap” to ease sanctions on Syria, although very little details have appeared until now.

In recent days, European and United States officials have opened the door to easing sanctions on Syria provided the new authorities in Damascus ensure the respect of human rights, emphasising the rights of minorities and women.