The European Union has lifted restrictions on certain key sectors of Syria’s economy, as part of its efforts to support a peaceful transition and economic recovery. The Council decision comes after the fall of the Assad regime, which was seen as an opportunity for all Syrians to rebuild their country.
The EU is now facilitating engagement with Syria in areas such as energy and transport, as well as allowing financial transactions associated with humanitarian and reconstruction purposes. This move aims to promote inclusive politics and swift economic growth.
Key measures include:
* Suspending sectoral restrictions on energy and transport
* Removing five banks from the list of those subject to freezing of funds
* Introducing exemptions for banking relations between Syrian banks and EU institutions, allowing transactions related to energy and transport sectors
The Council will continue to monitor the situation in Syria, while assessing further economic sanctions. Existing humanitarian exemptions remain in place, as do export prohibitions on luxury goods.
Restrictions remain in place for areas such as arms trade, dual-use goods, and Syrian cultural heritage goods, targeting the Al-Assad regime and illicit activities.
This decision comes after a statement by the European Council, which emphasized the importance of an inclusive, Syrian-led political process. The EU stands with the Syrian people as they transition towards a new era of hope and rebuilding.
Source: https://www.consilium.europa.eu/en/press/press-releases/2025/02/24/syria-eu-suspends-restrictive-measures-on-key-economic-sectors