On Monday, the European Union announced a suspension of sanctions on Syria’s energy, transport, and banking sectors as part of efforts to support the country’s reconstruction following the downfall of Bashar al-Assad.
Syria’s new leadership, which has been pressing for the removal of sanctions imposed on Assad’s regime during the civil war, has seen limited support from the West. European nations and other international powers have been cautious, awaiting clear assurances from Syria’s new Islamist-led government regarding a genuine and inclusive transition.
The EU foreign ministers’ meeting in Brussels approved measures to suspend sanctions on Syria’s energy and transport sectors, allow financial transactions with five Syrian banks, and release funds to Syria’s central bank. The EU stated that these steps aim to enable engagement with Syria in critical sectors such as energy, transport, and finance, as well as support humanitarian efforts and reconstruction.
However, the EU cautioned that these measures could be reversed if Syria’s new leadership fails to honor commitments related to minority rights and democratic reforms.
After years of isolation resulting from Assad’s 2011 crackdown on opposition groups, which led to the civil war, much of Syria’s infrastructure was destroyed and its economy severely weakened. According to the United Nations, Syria will require more than 50 years to return to its pre-war economic levels at current growth rates.
Following Assad’s ouster, global powers are competing for influence in Syria, which was previously supported by Russia and Iran. However, the lifted sanctions do not apply to Syria’s interim president, Ahmed al-Sharaa, and his Islamist group, Hayat Tahrir al-Sham.
