UK Cancels Sanctions on 24 Syrian Entities, Including the Central Bank

UK Lifts Sanctions on Syrian Entities After Assad’s Fall

In an unprecedented move, the British government announced on Thursday the removal of 24 Syrian entities from its sanctions list, including the Central Bank of Syria, several banks, and oil companies. Additionally, the asset freeze associated with these entities was lifted. This decision comes at a time when the West is reassessing its policy toward Syria after the ousting of the ousted President Bashar al-Assad in December, following a 13-year-long war.

In a statement posted on the British government’s website, it was confirmed that among the entities removed from the sanctions list were the Syrian Commercial Bank, the Central Bank of Syria, the Agricultural Cooperative Bank, as well as the Syrian Oil Company and “Overseas Petroleum Trading.”

Former Syrian President Ahmad al-Shara had repeatedly called for the lifting of sanctions imposed by the West to isolate Assad during the civil war. Similarly, last month, European Union countries suspended a number of sanctions on Syria.

Despite the removal of sanctions on some entities, the British Foreign Office did not provide further details regarding this decision. It has also not responded to requests for comment from Reuters so far.

In February, Britain announced that it would modify its sanctions on Syria following Assad’s fall, while maintaining asset freezes and travel bans on members of the former regime. However, hundreds of sanctions still remain in place against other individuals and entities.

In his comments, British Foreign Secretary Stephen Doughty stated that any easing of sanctions aims to support the Syrian people in rebuilding their country and enhancing security and stability. He emphasized that the British government would continue to hold Bashar al-Assad and his allies accountable for their actions against the Syrian people, while confirming that the asset freeze and travel ban imposed on members of the previous regime would remain in effect.

Sources:

• Agencies