The EU on Monday announced that it is suspending sanctions on Syria’s energy, transport, and banking sectors to aid the country’s reconstruction after the fall of the Bashar Assad regime.
In a statement, the EU said the move aims to “facilitate engagement with Syria, its people, and businesses, in key areas of energy and transport, as well as to facilitate financial and banking transactions associated with such sectors and those needed for humanitarian and reconstruction purposes.”
Key provisions of today’s decision include the suspension of sectoral measures affecting the energy and transport sectors, which encompass oil, gas, electricity, and transport infrastructure.
Additionally, five Syrian entities, including the Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank, and Syrian Arab Airlines, have been removed from the EU’s list of sanctioned organizations.
The move also facilitates financial transactions with the Syrian Central Bank for humanitarian and reconstruction purposes.
Moreover, the EU has decided to extend indefinitely the humanitarian exemption, ensuring continued support for aid efforts.
