The Council of the European Union adopted legal acts formalising the decision to lift economic sanctions against Syria on Wednesday. Twenty-four entities were removed from the list, including the Syrian Central Bank.
“The EU reaffirms its commitment to partnership during the transition period, which will help the Syrian people reunite and build a new, peaceful Syria,” commented EU High Representative for Foreign Affairs and Security Policy Kaja Kallas on the decision.
The adoption of the legal acts formally confirms the decision announced by Kallas on May 20. In addition to the Central Bank, companies operating in the oil and cotton processing sectors, as well as media outlets, have been removed from the sanctions list.
The EU imposed the first sanctions against Syria in 2011, when Bashar al-Assad was president of the country. The measures included an oil embargo, investment restrictions, a freeze on the assets of the Syrian Central Bank, and a ban on the supply of equipment from EU countries “that could be used for internal repression.”
Discussions on lifting the decades-old sanctions against Syria began after Bashar al-Assad was overthrown. Ahmed al-Sharaa, head of the Hayat Tahrir al-Sham (HTS) group, became president of the transitional period. Earlier, the US announced the lifting of sanctions against Syria. Syrian Airlines, several banks, including the Central Bank, and shipping companies were removed from the US sanctions list.
