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Economy International News

EU to Lift Sanctions on Syria’s Transport, Energy, and Banking Sectors

The European Union announced it will lift sanctions on Syria’s transport, energy, and banking sectors starting today Monday, according to EU foreign policy chief Kaja Kallas.

Diplomats previously stated that the decision aims to support Syria’s reconstruction following the removal of Bashar al-Assad. However, the EU has been cautious, awaiting clear commitments from the new leadership regarding democratic transition and minority rights.

The sanctions relief, initially agreed upon last month, will last for one year but can be reinstated if Syria’s new leaders fail to uphold their promises. UN envoy Geir Pedersen noted that forming an inclusive government by March 1 could further influence Western sanctions policy.

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