EU sanctions end: Money transfer to Syria facilitated

Following the USA, the EU has also lifted all of its economic sanctions against Syria. This was decided by the EU foreign ministers at their meeting in Brussels. This will primarily affect the Syrian banking system, which was previously excluded from the international capital market. “We are giving the Syrian government a chance, but we also expect an inclusive policy within the country that includes all population groups and religious groups,” said German Foreign Minister Johann Wadephul (CDU). However, the arms embargo and the sanctions against members of the former government under Bashar al-Assad remain in force.
The lifting of sanctions has many advantages for people and companies in Syria. Syrians will gain access to the international banking system SWIFT, making it easier to transfer money from abroad. This also makes it easier for companies and banks to access money. Foreign companies can now invest in Syria again. Companies from the Gulf States and Turkey are already said to be making preparations. Details were reported by ARD’s “Tagesschau”, among others. Syrian Foreign Minister Asaad al-Shaibani is also quoted there. At a press conference in Damascus, he reportedly said: “Whoever wants to invest in Syria—the doors are open. Whoever wants to help and support the Syrian people—the way is now clear.”
German Development Minister Reem Alabali-Radovan (SPD) was also positive: “This is a moment of hope and a new beginning for all Syrians. For a successful and peaceful new beginning in Syria, it is crucial that the economy starts up and that people can provide themselves with the basic necessities. Lifting the sanctions will strengthen Syrian society’s ability to help itself.” The minister is the first woman with a migrant background to hold this post. She was born in Moscow to Iraqi parents.
The EU had already suspended the first sanctions against the country at the end of February in order to make it easier for the Syrian transitional government under Ahmed al-Sharaa to make a fresh start. Even then, there were initial openings in the areas of energy and transportation. Humanitarian aid was also facilitated. In mid-March, US President Donald Trump then announced on his trip to Saudi Arabia that he would lift all economic sanctions against Syria.
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