Syria Sanctions Eased

Treasury’s Office of Foreign Assets Control (OFAC) has issued Syria General License (GL) 25, formally lifting sanctions imposed under the Syrian Sanctions Regulations and initiating a broad rollback of U.S. economic restrictions against Syria.

The move, announced in parallel with a waiver from the U.S. Department of State under the Caesar Syria Civilian Protection Act, delivers on President Trump’s May 13 pledge to end sanctions on Syria as part of a wider shift in regional policy.

GL 25 authorizes new investment, financial services, trade in petroleum products, and other commercial transactions previously prohibited under U.S. sanctions law.

The license also permits all dealings with the new Government of Syria and identifies certain previously blocked individuals who may now engage in authorized activity.

 “Our actions today mark the beginning of a new chapter for Syria and its people.” said Treasury Secretary Scott Bessent

The new policy excludes any relief for terrorist organizations, human rights violators, narcotics traffickers, or supporters of the former Assad regime, including Russia, Iran, and North Korea.

The U.S. government emphasized that it will monitor developments closely and continue to assess Syria’s compliance with international norms, including protections for religious and ethnic minorities.

Bank Curbs Relaxed

The Financial Crimes Enforcement Network (FinCEN) has also authorized U.S. financial institutions to resume correspondent banking with the Commercial Bank of Syria.

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued Syria General License 25, "Authorizing Transactions Prohibited by the Syrian Sanctions Regulations or Involving Certain Blocked Persons."