"Great Opportunity for the Syrian Economy" .. Central Bank and Finance Ministry Welcome Decision to Lift Sanctions on Syria
July 1, 202558 ViewsRead Time: 2 minutes
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The Ministry of Finance and the Central Bank of Syria praised the executive order signed by US President Donald Trump, ending the sanctions imposed on Syria, considering the decision a crucial turning point in the path to financial stability and economic recovery in Syria.
In a post on LinkedIn, Finance Minister Mohammad Yasar Bernia explained that the US decree revoked five previous executive orders that formed the legal basis for the sanctions imposed by successive US administrations, affecting more than 5000 Syrian entities and entities.
The Syrian minister also noted that the decision also ends the state of emergency imposed in 2004, paving the way for lifting the economic siege on Syria, especially regarding the export of US goods and services.
Bernia emphasized that the decision represents a great opportunity for the Syrian economy, saying: "We are determined to make the most of the potential offered by this development, and we are committed to strengthening financial management and enhancing integrity and transparency."
Meanwhile, the Governor of the Central Bank of Syria, Abdul Qader Hasriya, stated that the US decree directs the US Department of Commerce to lift restrictions that have hindered trade and banking services with Syria, enhancing opportunities to reconnect Syrian banks with the global financial system, including the SWIFT international transfer system.
Hasriya pointed out that the decision lifts sanctions on more than 500 Syrian entities, including banks and financial institutions, considering this step "will enable the revitalization of external financial transactions and enhance the ability to attract modern banking technologies."
He concluded by stating that the Central Bank of Syria is committed to making optimal use of this new phase to enhance governance and integrate the Syrian financial system into the international environment once again, serving the interests of the national economy and the Syrian people.
