This Council Implementing Regulation amends the EU’s restrictive measures against Syria following the fall of al-Assad’s regime. The act suspends certain sanctions and removes six Syrian financial and aviation entities from the sanctions list, while maintaining asset freeze for the Central Bank of Syria.
The structure of the act is typical for EU implementing regulations, consisting of a preamble with 6 recitals explaining the context and reasons, two operative articles, and two annexes. The first annex lists the entities being removed from sanctions, while the second annex establishes a new list with only the Central Bank of Syria remaining under restrictions.
The main provisions include:
– Removal of five Syrian banks (Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank, Central Bank of Syria) and Syrian Arab Airlines from the sanctions list
– Creation of a new Annex IIb containing only the Central Bank of Syria with frozen assets
– The changes aim to support Syria’s transition, humanitarian aid delivery, economic recovery, reconstruction and stabilization
– The regulation facilitates the return of Syrian nationals with their belongings
– The act maintains certain restrictions on the Central Bank of Syria while lifting them from other previously sanctioned entities
: This regulation has implications for Ukrainians who may have business or personal connections with Syria, as it opens new opportunities for economic cooperation while maintaining some restrictions.
