Syrians optimistic but cautious as sanctions relief revives economic prospects | Political Affairs

Damascus, Syria – For many Syrians, the years of rule by the al-Assad family – Hafez al-Assad from 1971 to 2000, then his son Bashar from 2000 to 2024 – were filled with government repression and ultimately more than a decade of civil war.

But one of the most important has been economic – the result of the sanctions that several countries, led by the United States, stopped Syria from the world economy.

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Despite the fall of Bashar al-Assad after the overthrow of terrorists in December 2024, many sanctions, including the designation of a “state sponsor of terrorism”, remained.

The designation has hindered Syria’s reunification with other countries, while sanctions have hit the Syrian people. Sending money home from abroad often requires transfers through neighboring countries, such as Lebanon or Turkey, while accessing websites and online services, including Netflix and Slack, may require a private internet connection.

But there has been interest in the announcement on Wednesday by US President Donald Trump that his presidency it will remove Syria from the government’s terrorist list.

Removal of previous US sanctions, such as related to Caesar Actit has not changed the Syrian economy, but we hope that those who agree with the list of “state sponsors of terrorism” will allow the country to prosper.

“God willing, things will change,” said Ihab, who owns a cake shop in the central district of Damascus.

Restored

US sanctions are thought to be the biggest barrier to foreign investment since the regime of Bashar al-Assad.

The World Bank said that since 2011, sanctions have led to a sharp drop in exports and an increase in the trade deficit.

After the fall of al-Assad’s regime, the current administration of President Ahmed al-Sharaa has realized that the removal of all international sanctions by the US is the key to relief. economic recovery.

Al-Sharaa, a former leader of the al-Qaeda-aligned Nusra Front, is also sanctioned by the United Nations and wanted as a “terrorist” by the US. But he has sought to end those ties and build trust around the world, including pledging to take part in the fight against ISIL (ISIS).

His efforts have been successful, with the European Union and the US lifting many sanctions on Syria and on al-Sharaa himself. Sanctions related to the list of “state sponsors of terrorism” in the US are among the few that remain.

The first name of “state sponsor of terrorism” in Syria was during Hafez al-Assad’s regime in 1979, due to the government’s support for Palestinian militias.

Additional sanctions were imposed on the government and people who supported the al-Assad regime, for the systematic use of torture and chemical weapons.

Some rebel groups were also allowed because of their ties to al-Qaeda and other banned organizations.

Al-Sharaa ended al-Nusra Front’s alliance with al-Qaeda in 2016 and abandoned the group’s ideology.

He also moved to establish a larger, nationally armed coalition dedicated to fighting the Assad regime, which later became Hayat Tahrir al-Sham.

In May 2025, when Trump met with al-Sharaa in Riyadh, US President he promised to lift many sanctions against the Syrian government. But the expected removal from the list of “state sponsors of terrorism” will be welcomed mainly because it removes significant obstacles for international banks and companies.

“This is very important because it is the main obstacle in the economic and political world with Syria and the leadership of al-Sharaa, and in terms of restoring Syria to the international system and the economic and political system,” Rob Geist Pinfold, a lecturer in security studies at King’s College London, told Al Jazeera.

Financial problems

However, he is careful to add that the removal of the name does not mean that a flood of money will start pouring into Syria.

“This is a major problem that has been solved, but that does not mean that there are no more obstacles to bringing money or engaging in cooperation with Syria.”

He added that international actors may be concerned about the government’s control and ability to deal with the remnants of al-Assad’s regime, which may return to ISIL (ISIS), government obstacles and corruption.

Some Syrians also doubted that the name change would bring immediate results.

“This requires a long breath,” said the owner of a small market in Damascus, who declined to give his name. You can’t go to bed and wake up and expect change.

He cited the ongoing economic crisis and rising commodity prices, as well as the recent oil shortage.

“There is no wealth, and there is no money.”

Some Syrians were hopeful that the economy, and other aspects of daily life, would improve. However, there is a realization that it takes a lot of patience.

For some, that patience has run out, like the market’s owners. Others, however, are just biding their time.

At a juice stand in central Damascus, Zaher counted the money he received from a customer.

“I am in the street with my cart and no one is bothering me,” he said. Electricity is working fine, but nothing works in a day.

“It took Almighty God six days to create the Earth,” said the 50-year-old. “These things take time.”