Switzerland has announced that it will remove a significant portion of the economic sanctions previously imposed on Syria, including those targeting the country’s Central Bank. This decision follows the political changes that occurred in Syria late last year.
After the overthrow of former President Bashar al-Assad in December 2024 and the establishment of a new government led by Ahmed al-Sharaa, Swiss authorities have decided to ease restrictive measures, following the lead of the European Union and the United States.
Aim to Foster Economic Recovery and Political Transition
According to Reuters, the Federal Council—Switzerland’s governing body—stated that only sanctions against individuals and entities associated with the former regime will remain in effect.
“The purpose of this decision is to encourage the country’s economic recovery and a comprehensive and peaceful political transition,” reads the Council’s official statement.
The decision includes the lifting of restrictions on the provision of certain financial services, the trade of precious metals, and the export of luxury goods. Furthermore, 24 entities, including the Central Bank of Syria, have been removed from the blacklist.
