The UK announced on Thursday that it would support efforts to help rebuild Syria’s financial system by removing sanctions that had previously impeded economic growth, specifically targeting sectors such as financial services and energy production.
As part of this strategy, the UK has lifted asset freezes on Syria’s Ministry of Defence, Ministry of Interior, and the General Intelligence Directorate, marking a significant reversal of penalties that were imposed during Bashar al-Assad’s presidency.
“The Syrian people deserve the opportunity to rebuild their country and economy, and a stable Syria is in the UK’s national interest,” said Hamish Falconer, the Minister for the Middle East, in a statement outlining the UK’s policy shift.
The UK’s decision is part of a broader rethink of Western approaches to Syria after a key moment in the conflict: in December, insurgent forces led by Islamist group Hayat Tahrir al-Sham ousted Assad from power following over 13 years of civil war. This change in political dynamics has prompted the UK to reconsider its stance, particularly regarding economic sanctions.
The British finance ministry posted a notice online detailing that Syria’s central bank, along with 23 other entities — including banks and oil companies — had their assets unfrozen in March, making it clear that the UK is taking steps to gradually lift restrictions that have hindered Syria’s recovery.
Despite the easing of sanctions, the UK clarified that its sanctions amendments would still allow the government to hold Assad and his allies accountable for their past actions, with a focus on accountability and transparency.
“We will continue to press the Syrian government to ensure it meets the commitments it has made,” the UK Foreign Office said, underscoring its commitment to promoting an inclusive political transition in Syria. This includes key priorities such as the protection of human rights, humanitarian aid access, and the safe disposal of Syria’s chemical weapons stockpiles.
The policy shift also comes with a broader expectation that the Syrian government will engage in anti-terrorism efforts, a central issue for the UK and other Western nations in the region.
