EU lifts energy and banking sanctions on Syria
Image edit by Salma Ahmed
EU nations have dropped a variety of sanctions on Syria, such as restrictions that relate to banking, reconstruction, energy and transport, Reuters reported on February 24th.
EU foreign minister’s who met in Brussels agreed that restrictions on oil, gas and electricity would be suspended, alongside sanctions on the transport sector.
Asset freezes for five banks have also been dropped and restrictions on the Syrian central bank have been softened.
Other sanctions on Syria were not lifted, which relate to the Assad authorities, such as those on arms trading, software for surveillance purposes and the global trade of cultural heritage goods of Syria.
European leaders began reconsidering their stance on Syria after Bashar al-Assad was removed as presidency in December by insurgent forces led by Hayat Tahrir al-Sham (HTS).
In January, EU ministers reached an agreement on a roadmap for easing sanctions on Syria, although the specific details were left open for further negotiation.
Notably, echoing similar initiatives, the United Kingdom recently signalled plans to relax restrictions on energy, transport, and finance sectors.
According to a draft declaration which was viewed by Reuters, the Council of the EU decided to lift certain restrictive measures “in areas of energy, transport and reconstruction, as well as to facilitate the associated financial and banking transactions.”
The document added: “[T]he Council will continue to examine whether the suspensions remain appropriate, based on the close monitoring of the situation in the country.”
The New Arab and agencies, Reuters
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