Sanctions were imposed on Syria by various countries and organizations, including the US and EU, in response to the Assad regime’s actions during the revolution, human rights violations, and its involvement in regional conflicts.
Impact of Sanctions
The sanctions have had profound effects on Syria’s economy, contributing to inflation, unemployment, and a humanitarian crisis. They have restricted access to essential goods, financial services, and foreign investments. While affecting the daily lives of people and causing the deterioration of their living conditions. The EU lifted all economic sanctions on Syria following the US removal of sanctions by President Donald Trump last week.
Potential Benefits of Lifting Sanctions
The Governor of the Central Bank of Syria, Dr. Abdulqadir Husari, confirmed that the simultaneous lifting of EU sanctions, alongside US, sanctions on Syria is an important milestone in the process of restoring normal economic and financial relations between Syria and the international community. This represents a positive step towards enhancing financial and economic stability.
Husari expressed his deep appreciation for the EU’s decision to lift Syrian sanctions. Experts note that sanctions removal contribute to economic recovery, allowing an influx of foreign investment and trade, helping to stabilize and rebuild the Syrian economy.
Easing restrictions could improve access for humanitarian organizations, allowing for more effective delivery of aid to those in need, while paving the way for improved diplomatic relations between Syria and other countries, fostering dialogue and cooperation.
Husari affirmed these efforts have played a pivotal role in reaching this critical stage and the efforts reflect a sincere commitment to promoting dialogue and international understanding.
