US Treasury issues immediate sanctions relief for Syria

The US Treasury Department’s Office of Foreign Assets Control (OFAC) issued Syria General License (GL) 25 to provide immediate sanctions relief for Syria in line with the Trump's announcement for the cessation of all sanctions on Syria, according to a statement, Report informs.

The GL25 license “authorizes transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria,” and “will enable new investment and private sector activity consistent with the President’s America First strategy,” it said in a press release.

The US State Department concurrently issued a 180-day waiver under the Caesar Act to ensure sanctions do not impede investment and advance Syria’s recovery and reconstruction efforts, Secretary of State Marco Rubio said in a statement.

Rubio said the waivers will facilitate the provision of electricity, energy, water, and sanitation, and enable a more effective humanitarian response across Syria.