Sanctions lifted on Ahmad Al-Shar'a and key Syrian institutions by a decision from the US Treasury Department.

The US Treasury Department announced yesterday, Friday, the lifting of sanctions on Syrian President Ahmed Al-Shar'a and Interior Minister Anas Al-Khatib, as well as the lifting of sanctions on: the Central Bank of Syria, Syrian Airlines, Sytrol, Syrian Commercial Bank, Real Estate Bank, General Petroleum Corporation, Syrian Oil Transport Company, Syrian Gas Company, Syrian Oil Company, General Establishment of Radio and Television, Banias Refinery Company, Homs Refinery Company, Agricultural Cooperative Bank, Industrial Bank, People's Credit Bank, Savings Bank, General Directorate of Syrian Ports, Latakia Port General Company, Syrian Shipping Chamber, Syrian General Authority for Maritime Transport, Syrian Maritime Agencies Company, Tartous Port General Establishment, General Refining and Distribution Establishment, Syrian Ministry of Oil and Mineral Resources, Syrian Ministry of Tourism, Four Seasons Hotel Damascus. This comes as an immediate decision to ease sanctions on Syria, following US President Donald Trump's announcement to lift all sanctions on Syria at the request of Saudi Crown Prince Mohammed bin Salman, aiming to provide Syrians with a new opportunity and enhance investments and private activities in the country. The US Treasury confirmed that the decision will allow foreign partners of the United States and its allies to invest in Syria, representing a first step in a broader American effort to lift sanctions on Syria. Treasury Secretary Steven Mnuchin stated that Syria must continue to work towards stability and peace, expressing hope that these measures will put the country on a path to a prosperous and stable future. In the same context, Secretary of State Mike Pompeo announced a 180-day waiver from sanctions imposed under the "Caesar Act" to facilitate investments and provide electricity, energy, water, healthcare, and humanitarian relief efforts, emphasizing that this step marks the beginning of a new vision in relations between Syria and the United States. The lifting of sanctions comes after the approval of EU foreign ministers to ease economic sanctions on Syria, amid Syrian authorities' efforts to accelerate economic recovery after 14 years of devastating conflict. UN estimates indicate that Syria needs $400 billion for reconstruction, especially with thousands of buildings destroyed and vital infrastructure collapsed due to years of war.