Lifting of Economic Restrictions: UK Lifts Sanctions on Over a Dozen Syrian Government Bodies
The UK has tossed aside sanctions on a dozen Syrian government organizations, including the Ministries of Defense and Interior, and the General Intelligence Directorate. This bombshell announcement was dropped last Thursday, a heartbeat away from the moment when, four months prior, the Hayat Tahrir al-Sham (HTS) armed group and their allies booted Bashar al-Assad out after a whopping 13 years at the helm of Syria.
The blacklist revision posted by the UK's Office of Financial Sanctions Implementation declared that these entities will no longer face asset freezes. The sanctioned parties were guilty of oppressing the Syrian populace and propping up the al-Assad regime, according to the notice. However, the statement didn't exactly spell out why these organizations were floated from the sanctions roster.
Back in March, the British government released the financial holdings of the Central Bank of Syria and 23 other entities, such as banks and oil companies. Yet, they ensured that punitive measures would remain in place for members of the al-Assad regime.
The new HTS-led Syrian administration dreams of convincing world capitals to loosen the stranglehold of crippling international sanctions. Asaad al-Shaibani, Syria's Foreign Minister, voiced this when he joined forces with ex-British Prime Minister Tony Blair earlier in the year, emphasizing the need for the lifting of economic sanctions to stabilize Syria.
Certain countries, like the United States, have stayed mum about lifting sanctions and are instead eyeing spotty and limited exemptions until they assess how the new administration plays the game and protects human rights.
Last week, a visiting UN official urged Syria's powers-that-be to launch a recovery initiative, declaring, "Waiting for sanctions to lift leads nowhere." Abdallah Al Dardari, the UNDP's regional head for Arab states, bluntly stated this in a chat with AFP in Damascus.
Rebuilding Syria: A Marathon, Not a Sprint
A UN Development Programme (UNDP) report published in February predicted that Syria would need more than 50 years to return to its pre-war economic standing, unless massive investment is injected to speed things up. According to the report, 9 out of 10 Syrians are now ensnared in poverty, a fourth of the population is unemployed, and Syria's GDP has nose-dived to half of its worth at the war's start in 2011.
The UNDP study also revealed that Syria's Human Development Index score, a gauge considering life expectancy, education, and living standards, has plummeted to its lowest ebb since its inclusion in the index in 1990 – mourning the damage wrought by the conflict.
The UNDP estimated Syria's lost GDP during the 2011-2024 war to be around $800bn.
Sources:
- Reuters
- Associated Press
- FT
- Reuters
- The Guardian
- In an unexpected move, the UK has removed sanctions on a handful of Syrian government entities, including the Ministries of Defense, Interior, and General Intelligence Directorate.
- The decision to lift sanctions came four months after Hayat Tahrir al-Sham (HTS) and their allies ousted Bashar al-Assad, ending his 13-year reign in Syria.
- The UK's Office of Financial Sanctions Implementation stated that these entities would no longer face asset freezes, despite their history of oppressing the Syrian populace.
- Syria's new administration, led by HTS, is urging world capitals to lift crippling international sanctions in order to aid in the country's economic recovery.
- Further negotiations on the matter are ongoing, as certain countries, like the United States, are evaluating the new administration's commitments to human rights before making a decision.
- In a chat with AFP in Damascus, Abdallah Al Dardari, the UNDP's regional head for Arab states, urged the Syrian government to focus on recovery initiatives, stating, "Waiting for sanctions to lift leads nowhere."
