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… from Damascus ❸, June 2025

Events in Syria have been accelerating at a rapid pace, but there is no doubt that May was a surprising, momentous month: after 14 years of economic turmoil in Syria, the sanctions were finally lifted. The Syrian streets had not witnessed celebrations like those on Tuesday, May 13, since the fall of the Assad regime in December of last year.

As soon as US President Donald Trump announced from the Saudi capital, Riyadh, his intention to lift sanctions on Syria, Syrians took to public squares in many cities across the country to celebrate. There is little scepticism that this decision – which was entirely unexpected based on previous indicators – will lead to economic relief and start the reconstruction process after years of war that devastated both people and infrastructure alike.

Relief and renewal: sanctions lifted

Lifting the sanctions on Syria and reintegrating it into the global financial system will, over time, resolve the country’s electricity and energy problems. It will encourage Syrians to restart their businesses or launch new ones, as well as attract Syrian, Arab, and international investors to finance various sectors across the country. This will create numerous job opportunities and, consequently, generate income that will improve people's living conditions. Additionally, allowing imports and exports will help stimulate the economy, boost productivity, and enhance healthcare services by making it easier to access modern medicines and medical equipment.

Days after the US decision, the EU and Japan also followed suit. On 28 May, the European Union Council adopted legal measures to lift the economic sanctions imposed on Syria – a historic step aimed at supporting the Syrian people in the phase of reconstruction and political transition. Two days later, Japan announced the removal of four national banks from the list of entities whose assets had previously been frozen.

In a historic step toward rebuilding its deteriorated infrastructure, on 29 May, Syria signed the largest agreement in the history of its energy sector, valued at $7 billion (according to Syrian media). The deal includes the construction of four cutting-edge power plants using American and European technology, plus a solar power station. The projects are expected to be up and running within three years, and will eventually meet over half of Syria’s energy needs, as well as create 50,000 direct jobs and another 250,000 indirectly. Many Syrians considered the moment the contract was signed a historic one: a step toward rebuilding deteriorated infrastructure, with which most people have had to make do with just a few hours of electricity a day in recent years.

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