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.
The International Monetary Fund plans to work with Syria to help it reintegrate into the global economy, IMF chief Kristalina Georgieva said on Thursday, citing a meeting on the war-scarred nation held this week.
Syrian authorities have detained two senior members of the Palestinian militant faction Islamic Jihad, which took part in the October 2023 attacks on Israel from Gaza, the group's armed wing and a Syrian official said on Tuesday.
Syria’s Latakia port welcomed its first major shipment of wheat since the ousting of former President Bashar al-Assad by rebel forces in December 2024.
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