{"id":131288,"date":"2025-10-22T06:25:29","date_gmt":"2025-10-22T06:25:29","guid":{"rendered":"https:\/\/npasyria.com\/en\/?p=131288"},"modified":"2025-10-22T06:25:31","modified_gmt":"2025-10-22T06:25:31","slug":"syria-eyes-full-u-s-sanctions-lift-begins-sovereign-debt-restructuring","status":"publish","type":"post","link":"https:\/\/npasyria.com\/en\/131288\/","title":{"rendered":"Syria eyes full U.S. sanctions lift, begins sovereign debt restructuring\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>QAMISHLI, Syria (North Press) \u2013 <\/strong>Syria\u2019s Economy Minister Mohammed Nidal al\u2011Shaar announced on Tuesday that Damascus is actively lobbying for the full removal of U.S. sanctions in the coming months and has initiated the restructuring of billions of dollars in debt accumulated during former President Bashar\u202fal\u2011Assad\u2019s rule.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking to Reuters at the Future Resilience Forum in London, al-Shaar stated: \u201cWe have to do some push and some lobbying to continue with this path that started in the right direction, and we\u2019re hoping by the end of the year the bill (to scrap the act) will reach the president (Trump), and hopefully he\u2019ll sign it.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;And once that happens, then we are sanctions-free,&#8221; he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He urged Washington to reduce trade tariffs\u2014currently at 41 percent on Syrian imports\u2014and welcomed the prospect of U.S. firms investing in Syria as the economy opens.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On debt, al-Shaar confirmed that Syria\u2019s sovereign liabilities \u201cwill be restructured\u201d with the state seeking grace periods and relief.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;I\u2019m hopeful that the next maybe few weeks, or maybe a month or two, we will reach some kind of an agreement with those who are controlling that part of Syria,&#8221; he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a World Bank report, reconstruction costs in Syria are estimated at $216 billion, a figure that could exceed $1 trillion if infrastructure is brought up to date. Al-Shaar predicted a \u201cquantum leap in our GDP\u201d once the deal is finalized.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since the outbreak of conflict in 2011, Syria\u2019s economy has faced crippling sanctions, a collapsed currency, and mass infrastructure destruction. The U.S. sanctions regime has restricted foreign investment and banking access, severely limiting economic recovery.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, Syria\u2019s pound has lost over 99 percent of its value since the conflict began and remains broadly unstable, despite recent calm. With major rebuilding needs and pledges of foreign investment, Damascus is positioning itself to seize a potential reopening of the economy\u2014contingent on the sanction regime and debt burden being addressed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>By Jwan Shekaki<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>QAMISHLI, Syria (North Press) \u2013 Syria\u2019s Economy Minister Mohammed Nidal al\u2011Shaar announced on Tuesday that Damascus is actively lobbying for the full removal of U.S. sanctions in the coming months and has initiated the restructuring of billions of dollars in debt accumulated during former President Bashar\u202fal\u2011Assad\u2019s rule. Speaking to Reuters at the Future Resilience Forum [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":131289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pgc_sgb_lightbox_settings":"","footnotes":""},"categories":[4,39,2],"tags":[],"class_list":["post-131288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-home","category-syria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Syria eyes full U.S. sanctions lift, begins sovereign debt restructuring\u00a0<\/title>\n<meta name=\"description\" content=\"QAMISHLI, Syria (North Press) \u2013 Syria\u2019s Economy Minister Mohammed Nidal al\u2011Shaar announced on Tuesday that Damascus is actively lobbying for the full\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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