The British government removed 24 Syrian entities from its sanctions list today, Thursday, March 6, and lifted the freezing of their assets.
The British removal from the sanctions lists included the Central Bank of Syria, other banks, and oil companies, according to the government decision reviewed by Enab Baladi.
The removal from sanctions included the Agricultural Cooperative Bank, the Euphrates petroleum company, the Commercial Bank of Syria, the Central Bank of Syria, the Deir Ezzor petroleum company, Dijla company, and Ebla, both of which are oil companies.
Britain also lifted sanctions on the General Organization of Tobacco, the Syrian Oil Company, Mahroukat company, the Syria Trading Oil Company, and the Post Saving Fund.
Additionally, it included Pangates International Limited, Syrian Airlines, the Syrian Oil Transport Company, the Baniyas Refinery, and the Homs Refinery.
This move comes as European countries show flexibility in dealing with Damascus, following the fall of Bashar al-Assad’s regime on December 8, 2024, as reflected in the Paris Conference in mid-February, where participating countries and parties confirmed their support for the transitional phase in Syria.
On February 13, the British government announced its intention to amend the sanctions regime imposed on Syria.
British Minister for Europe, North America, and Overseas Territories, Stephen Doughty, stated in a statement that Britain will update its future sanctions imposed on Syria after the welcome fall of the Assad dictatorship.
He continued, “Sanctions remain a powerful tool in foreign and security policy, and the government is committed to maximizing their impact, including reviewing their use in light of changing circumstances.”
The British government will propose measures over the coming months to adapt the sanctions regime on Syria, including amendments to the regulations concerning Syria, which members of parliament will have the opportunity to discuss, according to him.
The British minister attributed this step to supporting the Syrian people in rebuilding their country and enhancing security and stability, with these changes expected to ease restrictions on the energy, transport, and finance sectors, as well as provide more support for humanitarian assistance.
Doughty emphasized Britain’s commitment to hold Bashar al-Assad and his associates accountable for their actions against the Syrian people, ensuring that the freezing of assets and travel bans on the former regime members continue.
The British Foreign Office and the Department for International Development will continue to use sanctions in a targeted, proportionate, and strong manner to hold those responsible for the horrific crimes committed during Assad’s era accountable, while supporting a hopeful transition for Syria to a more secure, prosperous, and stable future.
On January 27, foreign ministers of European Union countries agreed on a roadmap to ease European sanctions on Syria.
The European Union’s foreign policy chief, Kaja Kallas, stated after the EU Foreign Affairs Council meeting in Brussels, “While we aim to move quickly, the lifting of sanctions can retract if wrong steps are taken.”