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EU suspends sanctions on key Syria economic sectors

24 February 2025 14:44 (UTC +04:00)

The European Union on Monday eased sanctions on Syria's energy, transport and banking sectors in a bid to help the country's reconstruction after the fall of Bashar al-Assad, APA reports citing Barron's.

"The EU 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," the bloc said in a statement.

History of the EU Sanctions on Syria

Recall that the European Union has been imposing various economic sanctions on Syria since 2011. These sanctions primarily target the energy, transportation, and banking sectors. In May 2024, the EU Council extended the sanctions against Syria until June 1, 2025.

Calls from Some EU Members to Suspend Sanctions

In January 2025, six EU member states – Germany, France, Spain, the Netherlands, Denmark, and Finland – proposed suspending sanctions on Syria in the transportation, energy, and banking sectors. As a result, on January 27, 2025, EU foreign ministers reached an agreement on a "roadmap" for the phased lifting of sanctions against Syria.

Key Economic Sectors: Energy, Transportation, and Banking

Based on this decision, the EU plans to suspend restrictive measures in the energy, transportation, and post-war reconstruction sectors, as well as for financial and banking operations related to these sectors.

EU's Future Plans and Dependence on Syria’s Political Situation

However, EU officials have emphasized that if the expected democratic steps are not taken by the Damascus administration, the process of lifting sanctions may be reviewed. Thus, the EU plans to lift sanctions on Syria gradually, but this process may change depending on the political and human rights situation in Syria.