After the US lifted sanctions on Syria, a new chapter is opening in economic relations between the two countries. The Syrian capital Damascus is preparing to host the first Syria-US Business Forum on Monday. According to Syrian state news agency SANA, the forum is being organized in cooperation with the Syrian Ministry of Economy and Industry and the Syrian-American Business Council.
The forum, which aims to open new horizons in economic cooperation between the two countries, will discuss the future of the Syrian economy in its recovery phase, the economic reform agenda, and investment opportunities in various sectors. According to SANA, the forum will serve as a dialogue platform between decision-makers and private sector representatives. This aims to strengthen the investment environment, establish new economic partnerships, and attract international capital and expertise to reconstruction and development projects.
Comprehensive easing of US sanctions
The forum is being held after the US administration implemented a comprehensive easing of sanctions on Syria in 2025. The US Treasury Department issued General License No. 25, which frees previously prohibited transactions and aims to encourage private sector investment in the country. Additionally, the US State Department granted exemptions from some sanctions under the Caesar Act, paving the way for investments that will support recovery and reconstruction efforts.
In June 2025, US President Donald Trump signed an executive order lifting sanctions on Syria. A statement from the White House said the move aims to support Syria's journey toward stability and peace. Following these developments, the US Treasury removed 518 individuals and entities from the sanctions list, describing them as 'extremely important for Syria's development, the functioning of its government, and the rebuilding of the social fabric.' In contrast, sanctions were expanded against individuals and entities linked to deposed leader Bashar al-Assad and his supporters.
A new era in Syria
Many countries, led by the US and the European Union, began imposing sanctions on Syria after the Assad regime violently suppressed the popular uprising that began in 2011. These sanctions included measures such as freezing assets, halting financial transfers, blocking technology transfers, and banning trade with the regime.
On December 8, 2024, opposition groups took control in Syria, ending 61 years of Baath Party rule and 53 years of Assad family governance. The new government declared Ahmed al-Sharaa as the country's president for a five-year transitional period on January 29, 2025.
