Damascus: Syrian officials have expressed optimism that the lifting of US sanctions will usher in a new era of economic and diplomatic openness for the country. Coordinator of the Economic Relations Council at the Supreme Council for Economic Development, Ayman Hamouya, emphasized that the removal of sanctions is expected to attract significant investments from Syrian expatriates and foreign companies, marking an end to a 14-year hiatus. This development is anticipated to revitalize the banking sector and facilitate remittances through official channels, thereby boosting local economic activity.
According to Qatar News Agency, Hamouya highlighted the government’s implementation of a new investment law designed to create a competitive and secure investment environment. The law aims to streamline procedures and support entrepreneurs through initiatives like the “single window” and the Investor Services Center. Amendments to obstructive laws are expected to improve the investment climate, generate job opportunities, and improve living conditions. Additionally, the influx of new investments is projected to expand Syria’s productive base across various sectors, promoting sustainable economic growth.
Hamouya further explained that the lifting of sanctions enables the government to implement financial and economic policies that stabilize prices and markets, and enhance domestic and foreign trade. These measures form part of a national strategy to reposition Syria’s trade regionally and internationally, ensuring a balance between supply and demand in local markets and making basic commodities available at fair prices.
In terms of political and diplomatic implications, former interim government minister Mohammed Yasin Najjar described the US decision as a strategic shift in international policy towards Syria. He noted that this change signals a move from a maximum pressure approach to one of conditional engagement by Washington. The decision requires Syria to adhere to international standards, including combating terrorism and securing borders, while offering the country an opportunity to reintegrate into the global financial system.
Najjar emphasized that the next phase will focus on strengthening cooperation with international and regional organizations and establishing the legitimacy of new institutions through mutual recognition agreements. Urgent economic agreements are needed to protect investments and facilitate banking procedures, while a security-economic framework with neighboring countries is crucial for managing energy, transit, and reconstruction issues.
This development is seen as a chance for Syria to establish a new relationship with the world, built on security, governance, and comprehensive development. The aim is to foster societal dialogue and engage in transitional justice to build an advanced state characterized by civil peace, drawing from successful models in countries like South Korea and Germany.
The lifting of sanctions comes at a pivotal moment for Syria, providing an opportunity to form new economic and diplomatic partnerships and re-engage with the global financial system. The decision underscores the Syrian government’s commitment to stabilizing the economy, restoring investor confidence, and achieving economic growth, while supporting reconstruction efforts and restoring international relations.
The Office of Foreign Assets Control (OFAC) has issued a final rule to rescind the Syrian Sanctions Regulations from the Code of Federal Regulations, effective August 26, 2025. This measure allows Syria, its banks, and financial institutions to conduct international transactions, including in US dollars, free from American sanctions. The US decision follows an executive order by President Donald Trump, which rescinded previous sanctions-related orders and revoked the national emergency, clearing the path for economic recovery and the reopening of diplomatic channels.