EU and US Sanctions Lift Mark “Pivotal Step” Toward Syria’s Financial Stability, Says Central Bank
By Kardo Roj
DAMASCUS, Syria (North Press) – The Governor of the Central Bank of Syria, Abdelkader Hasriya, said Wednesday that the coordinated removal of European and American sanctions marks a critical milestone in Syria’s effort to restore normalized economic and financial relations with the international community.
His remarks came one day after the European Union officially lifted all sanctions previously imposed on Syria, following a similar announcement by U.S. President Donald Trump made last week in Riyadh, Saudi Arabia. The nearly simultaneous moves have been widely welcomed by international stakeholders.
Speaking shortly after the EU decision, Hasriya expressed strong approval, calling the coordinated action “a positive step toward enhancing financial and economic stability.” He added that the synchronized lifting of restrictions by both Washington and Brussels signals the beginning of a new phase in Syria’s post-conflict economic recovery.
“The convergence of American and European positions represents a pivotal moment,” Hasriya stated. “This will pave the way for Syria to re-engage in the global financial system and promote broader cooperation with the international community.”
The Central Bank Governor also extended gratitude to what he described as “friendly European nations,” attributing the development to their “principled stances and sincere efforts” in facilitating dialogue and understanding between Syria and Western actors.
While the move marks a potential turning point for the Damascus government, the broader regional implications remain to be seen, particularly in areas outside government control. In northeast Syria, the Autonomous Administration of North and East Syria (AANES) has not released an official statement regarding the impact of the sanctions relief. The region continues to function with a semi-autonomous governance model that emphasizes stability, service provision, and security, primarily maintained by the Syrian Democratic Forces (SDF).
Syria has faced over a decade of economic hardship, with sanctions cited by the government as a major obstacle to reconstruction and development. International humanitarian organizations have also reported that restrictions have hampered aid delivery and essential services, particularly in underserved regions.
Despite the announcement, practical changes on the ground are expected to take time. Financial institutions and businesses may proceed cautiously amid ongoing legal and political complexities.
As of Wednesday, no specific bilateral agreements or international financial mechanisms have been announced in the wake of the sanctions relief. However, Syrian officials indicated that preparatory discussions are underway.