Syria’s economy poised for improvement after US sanctions removal
Summary
The United States has officially removed Syria from its list of "state sponsors of terrorism," a designation held since 1979. This change can help Syria reconnect with the global financial system and improve its struggling economy after years of war and sanctions.Key Facts
- President Donald Trump notified Congress on July 8 about removing Syria’s terrorism designation.
- The US completed the formal delisting after a 45-day congressional review period.
- Syria’s removal from the list ends many financial and trade restrictions tied to the terrorism label.
- Syria was first placed on the list for supporting Palestinian armed groups.
- The country experienced increased sanctions and isolation after the 2011 uprising and civil war.
- The al-Assad regime collapsed in December 2024; a new government including former rebels now leads Syria.
- Nearly 90 percent of Syrians currently live below the poverty line.
- Lifting the designation lowers risks for banks working with Syria and allows US foreign aid and contracts.
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