The US Department of State also revoked its designation of al-Nusra Front – latterly known as Hay’at Tahrir al-Sham (HTS) – as a global terrorist organisation. The US Treasury Department announced corresponding sanctions relief.
Rebels led by HTS overthrew long-time Syrian ruler Bashar al-Assad in December 2024, with the group’s leader Ahmed al-Sharaa taking over as president as the country rebuilds after more than 13 years of civil war.
“Today’s action will help foster additional investment in Syria to promote political and economic stability,” US Treasury Secretary Scott Bessent said in a statement.
Treasury said the moves were “in line with President (Donald) Trump’s promise to deliver sanctions relief to Syria.”
But the agency stressed that its removal of restrictions on Syria “does not change Treasury’s posture with regards to countering global terrorism and our commitment to hold bad actors in Syria accountable.”
HTS was earlier known as al-Nusra Front and was formerly the branch of Al-Qaeda in Syria. It broke ties with the jihadist group in 2016.
The United States had initially announced in July its intent to delist Syria as a state sponsor of terrorism, a move seen as a vote of confidence in Sharaa.
Trump met on the sidelines of a Nato summit in Türkiye with the Syrian president, a former jihadist who has sought to recast himself as a unifying figure after the toppling of the Assad family, which ruled with for a half-century.
US Secretary of State Marco Rubio said Monday’s delistings gave Syrians “a path to prosperity.”
The action “eliminates the final major barriers for private sector investment in Syria and promotes Syria’s economic recovery and reintegration into the global economy,” he said in a statement.
Top officials in Damascus hailed the delisting as a major opportunity for the country, still economically devastated after more than a decade of war that rights groups say killed more than half a million people.
Syrian Foreign Minister Assad al-Shaibani described Washington’s delisting as a “historic milestone” and said it reflected “the new Syrian state’s commitment to international peace and security.”
Finance Minister Mohammed Barnieh described the move as a “success for Syrian diplomacy,” according to the official news agency SANA.
It “opens a major and long-awaited door to strengthening Syria’s integration into the global economic and financial system, attracting investment and modern technologies, and supporting development opportunities.”
Central bank chief Safwat Raslan lauded the development, adding that his institution was “working to build a modern and reliable financial system capable of evolving with developments and taking advantage of all opportunities.” (AFP)