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EconomySyria News

Japan lifts the freeze on Syrian banks and declares its support for reconstruction efforts.

May 30, 202578 ViewsRead Time: 2 minutes
Japan lifts the freeze on Syrian banks and declares its support for reconstruction efforts.
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In a significant development in international relations and humanitarian support, the Japanese government announced today the lifting of some of the sanctions imposed on Syria, aiming to support the efforts of the new Syrian government in overcoming the crisis that has plagued the country for over a decade and contributing to the reconstruction of what the war has destroyed. During a press conference following a meeting of the Japanese government, Yoshiyasa Hayashi, the Chief Cabinet Secretary of Japan, confirmed that the decision to unfreeze the assets of several Syrian institutions comes in line with Japan's supportive stance towards the positive transformation taking place in Syria. Hayashi stated, "Unfreezing the assets of some institutions in Syria is necessary as the country seeks to overcome the crisis under the leadership of the new Syrian government." He added that Japan will continue to coordinate with the Group of Seven countries and others in the international community to take effective measures towards achieving peace and stability in Syria, emphasizing that the decision reflects Japan's conviction of the necessity to contribute to improving the lives of the Syrian people and helping them overcome the effects of the prolonged war. According to Japan's national broadcaster NHK, the decision included removing four Syrian banks from the sanctions list and asset freeze, namely: * Industrial Bank * Popular Credit Bank * Savings Bank * Cooperative Agricultural Bank The Japanese Ministry of Foreign Affairs affirmed that this step is part of a policy to support the peaceful transitional process in Syria, aiming to alleviate the suffering of citizens and create a more conducive environment for economic recovery and institution rebuilding. The political circles in Damascus welcomed this decision, considering it a positive indicator of a shift in some countries' positions towards Syria, and a growing recognition of the necessity to engage in reconstruction efforts and support the Syrian people away from political pressures. This development comes as the new Syrian government continues to take steps to improve internal conditions, amidst increasing support from some international parties seeking to end the Syrian crisis peacefully.
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Nagham Bilal

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