Syria and its allies hail lifting of harsh US sanctions

DAMASCUS, Syria — Syria’s government and its allies welcome the final lifting of the most draconian sanctions imposed on the country in recent decades.

Syria’s foreign ministry, in a statement, thanks the US for the repeal of sanctions and says it will “contribute to alleviating the burdens on the Syrian people and open the way for a new phase of recovery and stability.”

It calls for Syrian businesspeople and foreign investors to “explore investment opportunities and participate in reconstruction,” the cost of which the World Bank has estimated at $216 billion.

Central Bank Governor Abdulkader Husrieh says in a statement that the Caesar Act repeal will facilitate the country’s reintegration into the international financial system by allowing it to seek a sovereign credit rating.

“Syria will likely start with a low rating, which is normal for countries emerging from conflict,” he says. “The real value lies in the benchmark set by the rating and the road map it provides for improvement.”

Turkey, Saudi Arabia and Qatar, regional allies of the new Syrian government led by interim President Ahmad al-Sharaa, also welcome the move. Sharaa thanks the leaders of all three countries, along with Trump, in a speech celebrating the end of the sanctions.

“We hope that this step will contribute to strengthening stability, security and prosperity in Syria by further promoting international cooperation toward the country’s reconstruction and development,” Turkish Foreign Ministry spokesman Oncu Keceli says in a statement.

The Saudi foreign ministry commends “the significant and positive role played by US President Donald Trump” in lifting the sanctions.