Headlines

EU suspends sanctions against Syria including on energy, banking

Published by Global Banking & Finance Review

Posted on February 24, 2025

2 min read

· Last updated: February 27, 2026

Add as preferred source on Google
EU foreign ministers meeting to discuss sanctions suspension against Syria - Global Banking & Finance Review
The image depicts EU foreign ministers during a meeting in Brussels discussing the suspension of sanctions against Syria, particularly in the energy and banking sectors. This decision marks a significant shift in EU policy amid ongoing humanitarian concerns.
Global Banking & Finance Awards 2026 — Call for Entries

BRUSSELS (Reuters) - European Union countries on Monday suspended a range of sanctions against Syria with immediate effect, including restrictions related to energy, banking, transport and

EU suspends sanctions against Syria including on energy, banking

BRUSSELS (Reuters) - European Union countries suspended a range of sanctions against Syria with immediate effect on Monday, including restrictions related to energy, banking, transport and reconstruction.

The EU has a range of sanctions in place targeting individuals and economic sectors in Syria.

European leaders began rethinking their approach after insurgent forces led by the Islamist Hayat Tahrir al-Sham (HTS) ousted Bashar al-Assad as president in December.

Meeting in Brussels on Monday, EU foreign ministers agreed to suspend restrictions on oil, gas and electricity, and sanctions on the transport sector.

They have also lifted asset freezes for five banks, eased restrictions on the Syrian central bank and indefinitely extended an exemption to facilitate delivery of humanitarian aid.

"We have spent the past two months engaging in discussions and diplomatic efforts to ease the unjust sanctions that have burdened our people," Syrian Foreign Minister Asaad Hassan al-Shibani said on X.

"We welcome the EU's decision to suspend selected sanctions on specific sectors and see this as a step toward alleviating the suffering of our people."

EU states maintained a range of other sanctions related to the Assad authorities, including those on arms trading, dual-use goods with both military and civilian uses, software for surveillance and the international trade of Syrian cultural heritage goods.

They said they would continue to monitor the situation in Syria to ensure that the suspensions remained appropriate.

(Reporting by Bart Meijer; additional reporting by Hatem Maher; editing by Bernadette Baum, Aidan Lewis and Richard Chang)

Key Takeaways

  • EU suspends sanctions on Syria's energy and banking sectors.
  • Restrictions on oil, gas, and electricity are lifted.
  • Asset freezes for five banks have been removed.
  • Sanctions related to Assad's regime remain in place.
  • EU aims to facilitate humanitarian aid to Syria.

Frequently Asked Questions

What sanctions did the EU suspend against Syria?
The EU suspended sanctions related to oil, gas, electricity, and the transport sector, along with asset freezes for five banks.
Why did the EU decide to lift these sanctions?
European leaders reconsidered their approach after insurgent forces ousted Bashar al-Assad, prompting discussions to ease sanctions that burdened the Syrian people.
What is the reaction from Syrian officials regarding the sanctions suspension?
Syrian Foreign Minister Asaad Hassan al-Shibani welcomed the EU's decision, viewing it as a step toward alleviating the suffering of the Syrian people.
What other sanctions remain in place against Syria?
The EU continues to maintain sanctions related to arms trading, dual-use goods, and software for surveillance, among others.
How will the EU monitor the situation in Syria after lifting sanctions?
EU states have stated they will continue to monitor the situation to ensure that the suspensions of sanctions remain appropriate.

Tags

Related Articles

More from Headlines

Explore more articles in the Headlines category