The cancellation of the US sanctions against Syria is excited. They promise good business. However, experts fear that it will take a while before such a step noticeably improves the life of the Syrians.
The announcement by US President Donald Trump to lift the US sanctions against Syria was surprisingly-and she put investors in a gold grave mood. Wealthy exile Syrians, but also companies from the surrounding states, hope for a boom in the reconstruction of the country devastated by the years of civil war.
And the state hopes for these foreign investors: “Syria is a country of possibilities,” emphasizes Syrian finance minister Yisr Barnieh in a conversation with the Reuters news agency. “We call on all investors to take this opportunity.”
Rubio outlined Sanction easier
Syria had been sanctioned by the United States as a state sponsor of terror since 1979. After the outbreak of the civil war, Washington tightened the sanctions against the government of the then Syrian President Bashar Al Assad, which rebels overthrew in December 2024 after years of civil war. So far, the government in Washington has been holding on these sanctions – but U.S. Secretary of State Marco Rubio has already outlined the way to make sanctions for the former civil war country.
These could begin with the fact that the US government is using exceptional regulations to suspend the criminal measures against the government of Assad by the congress, said Rubio after meeting the new Syrian foreign minister on the sidelines of a NATO meeting in Antalya in Turkish.
Temp is unclear
The White House will expose sanctions of the so -called “Caesar Act”, said Rubio. These are the third of three American sanction programs against Syria, which Washington presented between 1979 and 2019. The “Caesar Act” dates from the first term of the US President Trump. “I think we want to start with the first exception that will make it possible for foreign partners who want to provide help to do this without risking sanctions,” said Rubio to journalists.
How quickly this can actually be implemented in practice is unclear. Experts assume that it will take time for such a step to significantly change the everyday life of the Syrians. “I think people see sanctions as a switch that can be put on and off,” says Karam Schaar, a Syrian economist and head of the consulting firm Karam Schaar Advisory.
Agree Syria and DP World Port development
Despite everything, a sanction decree could give the country urgently needed investments. And the first entrepreneurs are already in the starting blocks: According to an agency report, the Syrian government and the port operator DP World from Dubai have signed a declaration of intent worth $ 800 million for the development of the Syrian harbor TartTous. This was reported by the State Syrian news agency Sana.
The agreement on the development, management and operation of a multi-purpose terminal in TartoN also includes cooperation in the establishment of industrial and free trade areas. DP World is a subsidiary of the investment company Dubai World from the United Arab Emirates.
“We will surely attract other investors”
Syrian exile entrepreneurs have already announced that they want to get involved in their home country, such as billionaire Ghassan Aboud: “Firstly, I would like to help the country in every conceivable way to recover, and secondly, the soil is fertile. Every seed today can lead to good profits.” He assumes that other Syrian business people will also follow his example with connections abroad, since they no longer have to fear that they will be proven with US sanctions.
The Lebanese businessman Imad Al-Khatib has also been promoting his investment plans for Syria more vigorously since the U.S. President Trump's U-President. A few days ago, he sent specialists to the capital Damascus to prepare the construction of a $ 200 million waste sorting system. “This is just the first step, more will follow,” he emphasizes. “We will surely attract other investors because Syria is significantly larger than the Lebanon.” According to Finance Minister Barnieh, interested parties from the United Arab Emirates, Kuwait and Saudi Arabia have already felt.
President Al-Sharaa promises open Syria
Syria's temporary president Ahmed al-Sharaa had called for investments shortly after the sanctions were lifted. Syria should become a country of work and prosperity, said Al-Sharaa in a speech broadcast on television. Investors from home and abroad are welcome.
“Syria will be there for everyone who shakes hands with the country,” said the interim president. At the same time, he again confirmed the will to national unity. Syria will no longer be made a scene of external conflicts, he emphasized.
The political situation in the country remains tense. Some of the former opposition groups have not yet handed over their weapons of the new government. The Kurds' autonomy efforts in the northeast always ensure friction points. In addition, there have been clashes with Assad supporters in recent months who, like the fallen ruler of the religious community, belong to the Alawites. Other minorities also fear that they are harassed.
Syrian economy lies on the ground
After more than a decade of civil war, the Syrian economy is on the ground. The gross domestic product (GDP) has more than halved between 2010 and 2021, says the World Bank, referring to official Syrian data. In reality, however, the slump is probably even more dramatic. The current interim president Al-Sharaa is now on the free market instead of a planned economy like Assad.
According to Jihad Yazigi, publisher of a leading Syrian economic publication, the cancellation of the US sanctions is directional and a “strong political signal”. She paves the way for the reintegration of the country to the Gulf States, international financial organizations and the return of the Syrian diaspora.
Karam Bechara, Managing Director of Syrian Shahba Bank, describes the enthusiasm that the TV pictures of the recent meetings have triggered Trump with Scharaa with Syrian business representatives. “It is too good to be true. We are on the right track if nothing happens that Syria throws off the track.”
