EU suspends sanctions on Syria's key sectors to support reconstruction efforts

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.

The Council also introduced an exemption for personal use to export luxury goods to Syria.

Moreover, the EU has decided to extend indefinitely the humanitarian exemption, ensuring continued support for aid efforts.

"The Council maintains listings related to the Al-Assad regime, the chemical weapons sector and illicit drug trade as well as a number of sectoral measures, such as on arms trade, dual-use goods, equipment for internal repression, software for interception and surveillance, and the import/export of Syrian cultural heritage goods," it said.

The EU said it will continue to assess the situation and consider further suspensions of economic sanctions if appropriate, all while monitoring the evolving situation in Syria closely.

The council reaffirmed that the fall of the Assad regime marks the beginning of a "hopeful new chapter for Syria, with all Syrians—both in the country and in the diaspora—having the opportunity to play a role in rebuilding their nation."

Assad, Syria’s leader for nearly 25 years, fled to Russia on Dec. 8, ending the Baath Party’s regime, which had been in power since 1963.

Ahmad Al-Sharaa, who was appointed the new Syrian president on Jan. 29, tasked Mohammed Al-Bashir with forming a government to oversee Syria’s transitional period.