Syria’s economy poised for improvement after US sanctions removal
Syria’s removal by the United States from its “state sponsors of terrorism” list clears one of the last major hurdles to the country’s integration into the global financial system, analysts tell Al Jazeera. On July 8, US President Donald Trump announced he was formally notifying Congress of his intention to rescind Syria’s designation, which had been in place since 1979.
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Key Facts
- Fact 1: On July 8, US President Donald Trump announced he was formally notifying Congress of his intention to rescind Syria’s designation, which had been in place since 1979.
- Fact 2: A 45-day congressional review period passed on Saturday, and the US completed the formal delisting on Monday.
- Fact 3: Trump’s latest wave of Iran sanctions: Which 60 entities are targeted?
- Fact 4: France, Saudi Arabia agree on $7bn theme park project near Paris US removes Syria from ‘state sponsor of terrorism’ list While Washington had already lifted many of the restrictions preventing transactions with Syrian banks, the “terrorism” designation continued to carry additional financial and trade restrictions, and Syria’s removal will give the country – still struggling to pick itself up after a nearly 14-year war – a badly needed economic boost.
Syria’s removal by the United States from its “state sponsors of terrorism” list clears one of the last major hurdles to the country’s integration into the global financial system, analysts tell Al Jazeera. On July 8, US President Donald Trump announced he was formally notifying Congress of his intention to rescind Syria’s designation, which had been in place since 1979.
A 45-day congressional review period passed on Saturday, and the US completed the formal delisting on Monday. Trump’s latest wave of Iran sanctions: Which 60 entities are targeted? France, Saudi Arabia agree on $7bn theme park project near Paris US removes Syria from ‘state sponsor of terrorism’ list While Washington had already lifted many of the restrictions preventing transactions with Syrian banks, the “terrorism” designation continued to carry additional financial and trade restrictions, and Syria’s removal will give the country – still struggling to pick itself up after a nearly 14-year war – a badly needed economic boost.
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Original source: Al Jazeera