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Syria Sees Economic Hope as US and EU Lift Sanctions

Sanctions relief unlocks foreign investments and trade opportunities, but structural challenges and conflict risks persist.

Overview

  • The US and European Union have lifted broad economic sanctions on Syria, marking a significant shift in Western policy following the ouster of Bashar al-Assad in late 2024.
  • Syrian business leaders express optimism, citing the reopening of banking channels and potential access to global markets as transformative for the economy.
  • Major infrastructure investments have been announced, including an $800 million deal by UAE’s DP World for the port of Tartus and a $260 million agreement by France’s CMA CGM for Latakia.
  • UN officials warn of persistent risks, including sectarian tensions, deep poverty, and the potential resurgence of militant groups, which could derail recovery efforts.
  • Reconstruction costs are estimated to exceed $400 billion, and international donors emphasize the need for governance reforms, inclusivity, and transparency to sustain progress.