Syria welcomes permanent lifting of US sanctions

ILLUSTRATION UNSPLASH/Mahmoud Sulaiman

JAKARTA - The Syrian government welcomed the latest lifting of the toughest sanctions imposed on the country in decades.

The US Congress imposed sanctions called the Caesar Act on the Syrian government and financial system in 2019 to punish President Bashar Assad for human rights violations during the nearly 14-year-old civil war in the country that began in 2011.

After Assad was ousted in a quick rebel offensive in December 2024, supporters - including some who had previously lobbied for sanctions to be imposed - pushed for the punishment to be lifted.

They argue that the sanctions prevent international investors from launching reconstruction projects and hinder Syria from rebuilding its devastated economy and infrastructure.

US President Donald Trump signed the final repeal on Thursday night after Congress passed it as part of the country's annual defense spending bill.

Several lawmakers have pushed for the lifting of the sanctions to be conditioned on steps taken by the new Syrian government, dominated by the Sunni Islamist group, to protect religious minorities, among other measures.

In the end, the sanctions were lifted unconditionally but with the requirement of periodic reports to Congress on Syria's progress on various issues, including minority rights and counter-terrorism measures.

The Syrian Foreign Ministry in a statement on Friday thanked the US for the move and said it would "contribute to easing the burden on the Syrian people and pave the way for a new phase of recovery and stability."

The ministry called on Syrian businessmen and foreign investors to "explore investment opportunities and participate in reconstruction," which the World Bank estimates will cost $216 billion.

Central Bank Governor Abdulkader Husrieh said the repeal of the Caesar Law would facilitate the country's reintegration into the international financial system by allowing it to seek sovereign credit ratings.

"Syria will likely start with a low ranking, which is normal for countries that have just recovered from conflict," he said.

"The real value lies in the benchmark set by the ranking and the roadmap it provides for improvement," Husrieh added.