Sanctions against Syria loosened: Entrepreneurs see hope for an upswing!

Sanctions against Syria loosened: Entrepreneurs see hope for an upswing!

Damaskus, Syrien - The decision of the European Union to loosen sanctions against Syria was greeted by Syrian entrepreneurs. This has marked the most important loosening of western pressure on Damascus for over a decade. The EU announcement was followed by a similar communication by the United States in May. Syrian Foreign Minister Asaad Al-Shaibani praised this decision as a strengthening of Syria's security and stability. Entrepreneurs now hope for restoring their livelihood after years of economic isolation.

HASSAN BANDAKJI, a local business owner, announced that companies that had previously been excluded due to the sanctions of Syria are now in contact again. Many companies and producers plan to return to the Syrian market, which is considered a glimmer of hope for the economy braked by the sanctions. Comprehensive economic restrictions against the government of former President Bashar al-Assad as well as against trade, investments and financial transactions in Syria were affected by the EU and US sanctions.

The effects on the economy

Ali Sheikh Kweider, a factory manager near Damascus, explained that the main difficulty for companies was access to raw materials and automated production lines. The use of bank accounts for transactions also represented a considerable obstacle. The new Syrian government under the former rebel leader and interim president Ahmed al-Sharaa urges the fully abolition of the sanctions to promote the reconstruction of the country. The development is supported by the new leadership in the USA, in particular by US President Donald Trump, who announced that the American sanctions canceled after a meeting with al-Sharaa in Saudi Arabia.

The EU member states have decided to suspend a number of restrictive measures against Syria, especially in the areas of energy, transport and banking. Kaja Kallas, a high representative of the Union for foreign and security policy, described the decision as a positive step to support Syria. While humanitarian exemption is extended indefinitely to ensure humanitarian aid, sanctions remain in the arms trade and against the Assad regime.

Future views and challenges

The abolition of international sanctions was announced on May 21, 2025, which led to many Syrians. Hisham Jebeili, an entrepreneur from Aleppo, reported immediate orders after the sanction relief, but warned that the economic improvement will take time. Critics express concerns because the new rulers have so far not made any democratic progress. Muhammad al-Sukari, a young Syrian, emphasized that patience is necessary and that control over state funds is initially with the new rulers.

With the loss of sanctions, Syrians have access to the international banking system Swift, which gives foreign companies the opportunity to invest in Syria without punishment. Companies from the Gulf States and Turkey have already expressed interest in investments. Despite the positive reactions, experts agree that it could take years for the life situation of the population to improve. Al-Sukari, who plans to return to Syria, emphasize the need for a peaceful and democratic development of the country.

Overall, the loosening of the sanctions is perceived as a historical opportunity for investments, but can only be fully usable in a stable and democratic context. The EU also plans to convene the ninth International Conference to support Syria in Brussels in order to mobilize the international community and to further observe political developments.

The EU Commission welcomes the suspension of sanctions ...
Tagesschau reports on the reactions on the end of the sanctions ...