Britain said on Thursday it would support efforts to rebuild Syria's financial system by removing sanctions to encourage investments in financial services, energy production and other sectors.
For over a decade, the UK had maintained a hardline sanctions regime targeting Syrian state institutions and individuals connected to Assad’s regime © Mena Today
Britain said on Thursday it would support efforts to rebuild Syria's financial system by removing sanctions to encourage investments in financial services, energy production and other sectors.
London also lifted asset freezes on Syria's defence and interior ministries and a range of intelligence agencies, reversing penalties imposed during Bashar al-Assad's presidency.
The West is rethinking its approach to Syria after insurgent forces led by the Islamist Hayat Tahrir al-Sham ousted Assad as president in December after more than 13 years of civil war.
"The Syrian people deserve the opportunity to rebuild their country and economy, and a stable Syria is in the UK’s national interest," Hamish Falconer, Minister for the Middle East, said in a statement.
A notice posted online by the British finance ministry said the Syrian Ministry of Interior, Ministry of Defence and General Intelligence Directorate were among 12 entities no longer subject to asset freezes.
In March, the government unfroze the assets of Syria's central bank and 23 other entities including banks and oil companies.
The British government said the amendments to its sanctions legislation would allow it to hold Assad and his associates accountable for their actions when in power.
The Foreign Office said Britain was committed to an inclusive political transition in Syria, including the protection of human rights, unfettered access for humanitarian aid, safe destruction of chemical weapons stockpiles and moves to combat terrorism.
"We will continue to press the Syrian government to ensure it meets the commitments it has made," the Foreign Office added.
Bashar al-Assad's 24-year rule of Syria ended abruptly in December 2024 following a lightning advance by rebel forces who struck while the Russian and Iranian allies who had backed him through years of civil war were distracted by conflicts elsewhere.
Russia's Foreign Ministry said on Tuesday that a deal reached with Syria on the future of Moscow's military bases in the country would boost ties between the nations, and a Syrian source said some Russian forces would still be stationed there under the agreement.
Syria and Russia reached a memorandum of understanding to settle the future of Russian bases at Tartous and Hmeimim following 18 months of intensive negotiations, the Syrian foreign ministry said on Sunday, according to the Syrian state news agency.
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