Today, Wednesday, Syria called for the lifting of sanctions on the financial transfers of its banking system, stressing that these transfers are the main factor in supporting the economy and attracting investments, according to the Anatolia Agency reported by the official Syrian Agency (SANA).
This invitation came during the meeting of the Syrian Minister of Economy Basil Abdel Hanan with the list of the German embassy in Damascus, Margaret Jacob, as the two sides discussed ways to restore bilateral relations, enhance economic cooperation and stimulate trade exchange.
Abdel Hanan stressed during the meeting that Syria is keen to restore relations with Germany and benefit from its economic experiences, noting the importance of working to lift the sanctions imposed on the Syrian banking system because of its direct impact on the movement of the economy and investments in the country.
German companies return to Syria
Abdel Hanan welcomed the return of German companies to invest in Syria, especially in the alternative energies sector, stressing the importance of benefiting from the German experience in investment systems and its management.
For its part, Margaret Jacob revealed that there are preparations for the reopening of the German embassy in Damascus soon, and expressed Berlin’s desire to develop relations between the two countries in various fields, especially economic.
She added that there is a prospective meeting of the European Union, during which the reduction of the sanctions imposed on Syria will be discussed, noting that there is a great desire for German companies to invest in Syria, with plans to open representative offices for some of these companies in Damascus.
An international trend to reduce sanctions
According to “Anatolia” quoted sources in the US foreign ministries and treasury, the sanctions on Syria began in December 1979 when it was classified as a “supportive state of terrorism”, and has increased since the outbreak of the Syrian revolution in 2011.
On January 7, 2025, the US Treasury announced the reduction of sanctions imposed on Syria for a period of 6 months, with the aim of facilitating the continuation of basic services in the country.
The High Representative for Foreign Affairs and Security Policy of the European Union, Kaya Calas, confirmed on January 27 that the European Union’s foreign ministers agreed to a road map to alleviate the sanctions, with a warning that any wrong steps by the new Syrian administration may lead to a retreat from lifting this Penalties.
