On Monday 24 February, the Council of the EU decided to suspend a number of restrictive measures in view of the situation in Syria. “This decision is part of the EU’s efforts to support an inclusive political transition in Syria, and its swift economic recovery, reconstruction, and stabilisation”, the Council stressed in a statement. The legal acts relating to this decision will be published this Tuesday in the Official Journal of the EU.
In particular, the Council decided to suspend sectoral measures in the energy, including oil, gas and electricity, and transport sectors.
The EU will also introduce certain exemptions to the ban on establishing banking relations between Syrian banks and financial institutions present on the territory of the Member States in order to allow transactions linked to the energy and transport sectors as well as transactions required for humanitarian and reconstruction purposes. In addition, the existing humanitarian exemption will be extended indefinitely.
Four banks (Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank) and Syrian Arab Airlines will be removed from the list of entities subject to the freezing of funds and economic resources. The provision of funds and economic resources to the Central Bank of Syria will once again be authorised.
Finally, the EU will introduce an exemption for personal use concerning the export bans on luxury goods to Syria.
The Council will continue to assess whether further economic sanctions could be suspended and will closely monitor the situation in the country to ensure that such suspensions remain appropriate, the Council said in its statement. Speaking to the media, EU High Representative Kaja Kallas said that the lifting of sanctions was immediate and unlimited, but that it could be cancelled if Syria’s new leaders reneged on their commitments.
The restrictive measures relating to the Assad regime, the chemical weapons sector and drug trafficking, the arms trade, dual-use goods, internal repression equipment, interception and surveillance software and the import/export of Syrian cultural heritage goods are being maintained.
See the Council’s declaration: https://aeur.eu/f/fms (Original version in French by Camille-Cerise Gessant and Justine Manaud)