US authorizes economic activities in northeast Syria

QAMISHLI, Syria (North Press) – The United States authorized on Thursday some foreign investments in areas of northeastern Syria which are held by the Autonomous Administration of North and  East Syria (AANES).

Despite US sanctions on the Syrian government-held areas, the general license issued by the US Department of the Treasury permits transactions in several sectors including agriculture and finance.

In June 2019, the US administration imposed sanctions that targeted Syrian President Bashar al-Assad and his inner circle to choke odd revenue for his government in a bid to force it back to the UN and put an end to the country’s decade-long war.

On Thursday, the Department of the Treasury issued a general license authorizing activities in northeast and northwest Syria in 12 sectors including agriculture, information and telecommunications, power grid infrastructure, construction, finance, clean energy, transportation and warehousing, water and waste management, health services, education, manufacturing, and trade.

US acting assistant secretary of state, Victoria Nuland, said on Wednesday that the US would allow some foreign investments in areas of northeast Syria outside government control without coming under sanctions.  

The license does not authorize any transactions involving any person, including the Syrian government, whose property or interests in property are blocked pursuant to the Caesar Act, according to the statement of the Department of Treasury.   

It also does not authorize petroleum sector.